ESP and the search for economic recovery 
Commentary: Signs of growth may be short-lived
By Lou Barnes, Friday, January 7, 2011.
The economy is doing better. Everybody knows that. But is this improvement the long-awaited self-sustaining recovery?
The actual, hard data and the bond market say, "Uh-uh." The 10-year T-note is on track today for the lowest closing yield since mid-December, trying to break 3.32 percent, and low-fee mortgages are sliding near 4.75 percent.
December payrolls were forecast to gain 150,000-290,000 jobs, and reality clunked in at 103,000.
Of that, 36,000 were in health care, the only sector of the economy to gain jobs every month of the Great Recession (and a sector that we cannot possibly afford); and another 47,000 in "leisure and hospitality," more than half of that in the subcategory "food and drink." Under these circumstances, booze is a reasonable plan.
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