The world is so gloomy that I thought it would be nice to show some good news. As this chart shows, both tech sector and consumer sector stocks have almost fully recovered to their pre-recession highs. Consumer staples are only 5% below their late-2007 (and all-time) high, while tech stocks are less than 3% below their late-2007 high.
The tech sector is still well below its very-inflated 2000 high, but its recovery to date from the 2002 lows is extremely impressive. It just goes to show that this economy is quite dynamic, and able to bounce back from even the worst of news.
and this is good news in our nominal world why?
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