It’s halftime! 2013 is half over, and data for another quarter is in. It’s time to check in on Barataria’s predictions for the year and see how things are going.
The mainstream press has already latched onto the story of a recovery that is slow but gaining strength, so this is hardly news anymore. But exactly how and why it is strong remains important in many ways. This is a restructuring more than a traditional recovery after a recession, so it takes a lot of time. The foundation has to be laid before the new economy can be framed on top of it. That foundation came through in 2012, but progress has to continue in key areas to make it possible for the jump to a new boomtime around 2017 or so.
Break out the expensive commercials and grill the burgers, we have a game!
How is that recovery going for you? Overall, the first quarter of 2013 has been a decent one. Nothing is moving very quickly, but we are seeing progress. It’s time to check back on the predictions Barataria made for the year and see how we are doing.
Back at the start of the year, it seemed as if the recovery had something to prove. 2012 was not a bad year, but it was only the foundation of a recovery. A little bit of faith that things were getting better certainly had a lot to do with Obama winning re-election, among other things. But 2013 is indeed shaping up to be the year the recovery starts to seem real.
Are you ready for a new housing boom? It’s OK, I thought you might need a chuckle today. But there are some analysts who seriously expect housing to lead the economy out of the slump of the last five years … much as it showed the way into this mess in the first place. It’s probably overstating the upside dramatically, but there are signs of recovery or at least stability in the housing market overall. It’s uneven and just starting, but this may be the latest sign that we are, in fact, more or less at the bottom right now and starting to turn up.