The economy is still weak. And if there is any financial turbulence the whole thing will come crashing down again. And then there will be no helping the economy:
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Today, two new indicators provide yet more evidence that Americans are feeling better about the economy. Gallup reports that Americans' economic confidence is at a seven-month high. The National Federation of Independent Business reports that small business confidence is also up for the fourth straight month. Likewise, the most recent Reuters/University of Michigan Index of Consumer Sentiment has shown four straight months of improvement. And the Conference Board's Consumer Confidence Index jumped more than 9 points, to 64.5, in December.
Yet while confidence is definitely trending upward in recent months, levels appear to be mired in recession territory, long after the recession ended.
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