PARSE THE NUMBERS

Crude oil reversed last Thursday's sharp gains as poor consumer confidence and a disappointing durable goods number reflected a struggling economy. essentially the intellectual battle lines have been frozen for 18 months the divide being whether or not a viable, sustainable recovery is underway, or not.

With persistent unemployment, that some say my not recover until 2013, disappointing industrial production, miniscule M2 money supply growth and month-to-month disinflation, how dark a rose color are the glasses through which some analysts peer?

Very dark indeed, is our response. Where is the demand coming from for the goods and services of those companies posting positive earnings, and more importantly, are they sustainable, probably not.

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