Unemployment Is the Most Important Challenge for the U.S.

From the start of the economic and financial crisis that began in 2007, I made it clear that this was not a garden variety recession. Instead, I said, it was the aftermath of the bursting of the largest real estate bubble the world had ever seen. Many developments of the past three years support my thesis. Now I predict that this will not be a garden variety recovery either. We should expect some false starts in the economy and a bear market rally for stocks. And my prediction has two important observations backing it up … Observation #1 — A Secular…