This recovery is wonderful in every way, except the important ones. It is like a shiny new airplane. It has glossy aluminum wings. It has plush seats in the first class section. Trim stewardesses serve drinks. Movies are available on demand in all sections…

With unemployment hovering at 9.4% consumers continued to show reluctance in July as incomes stagnated. Furthermore, with the jobless rate expected to exceed 10% later this year, consumer confidence fell in August, keeping hopes of a sustained economic recovery at bay.

European shares touched a 10-month high on Friday on optimism for a global economic recovery and with Nokia and results from U.S. bellwethers boosting the technology sector.

While the many of the world’s economies continue to look for signs of growth, the U.S. economy took a big step in the right the direction in the second quarter.

The dollar fell against the yen on Friday after a government report showing a slower-than-expected contraction in the U.S. economy in the second quarter was offset by a decline in consumer spending.

Oil fell below $66 on Friday, in line with broad falls on global markets after data showing the U.S. economy contracted and consumer spending had declined, with knock-on effects for fuel demand.

The economy continued to show signs of recovery from the worst recession in 60 years as the total number of Americans receiving unemployment benefits dropped for the first time since January, the Labor Department reported yesterday (Thursday).

Stocks fall again… Rob Parenteau on what it will take to move markets higher… Are U.S. equities turning Japanese? Two charts that might have you thinking so… The ultimate indicator? One d-list data point that’s marked the end of recessions since 1970… President, mainstream media wake up to debt dilemma… our executive sounds off… Plus, a sector still “growing explosively,” despite the recession…

Consumer deleveraging has barely even started, says Payout Trader editor and Crisis Strategy Alert senior analyst Charles Delvalle.