Spring has sprung, and of course that brings with it the inevitable claim that the "green shoots of recovery" are upon us.
This was emphasised by Larry Kantor of Barclays Capital writing in his latest client note that he saw signs of "green shoots."
His argument is that expectations are so low, the market is beaten and the prognosis so grim, that it is time to start being more aggressive in investment decisions to take advantage of the situation. He believes a turnaround starts in Asia and quickly moves to other markets not so badly affected by financial collapse.
In other words, countries like Britain and the U.S. which are at the center of the financial meltdown are going to be amongst the last to recover.
There is solid common sense in Kantor's views. There has been so much unprecedented action by policy makers on the monetary, fiscal and regulatory front that recovery is inevitable. It is just a question of when and how strong.
Are you seeing the green shoots of recovery in your economic life yet ?
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