Digmen1 - 9:42 pm on Aug 19, 2009 (gmt 0)
I would say that the world has pulled back from the brink of a major depression.
There are some green shoots.
But we have a l o n g way to go before we have a recovery.
They all say that jobs are the last thing to recover. But it is jobs that we all need to pay our bills and buy things.
There are still many major redundancies and job losses all around the world.
So I say until we see unemployment figures going down there is no real recovery. And yes there does need to be some major rebalancing. But nobody is doing anything to start this.