Excessive Spending - Recession or Remixing?

On October 13 I wrote:

I'm going out on a limb now, but I think the 4th Quarter of 2005 will be viewed, retrospectively, as the beginning of a new recession in the U.S.

Since then, the stock market has done pretty well with the S&P going from around its yearly low to near its yearly high. Does that mean no recession?

Well, let's not confuse the stock market with economic activity. Especially in Michigan.

• Ford to cut 4,000 white collar jobs in North America by early next year
• Forecast: Manufacturing slump to hold down Michigan's economy
• Michigan job losses to go on, U-M says... despite recent declines in Michigan's unemployment rate, they forecast the jobless rate in the state to begin rising again soon, peaking at 7.6% by late 2007.

Add to that the woes at Delphi and Northwest Airlines and Delta Airlines and I just don't see "booming economy" anywhere.

Maybe it's in Florida?

Florida job market is enviable
In the Orlando area, unemployment rate hits 5-year low

Doing what?

In certain sectors such as information technology, human resources and engineering, employers are bidding for the services of skilled workers

Must be the warm weather....