Bowling Alone: Americans Aren't Buying 'Discretionary Services' Like RecreationBy
The shocking chart you see below, a little-seen measure of how pokey this recovery has been, was created by economist Jonathan McCarthy of the Federal Reserve Bank of New York. At Bloomberg Businessweek’s request, McCarthy updated charts he prepared in August by incorporating new data released. While it’s no surprise that this recovery has been slower than the average of fast recoveries, it’s disheartening to see from the chart that in one respect this one is far below the average of slow recoveries.
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