I just meant to say that I think this drive towards promoting the idea of recovery is way premature. All Optimism Bias all the way. People like Bill McBride may claim they simply follow the data, but I think they simply pick the data they follow.
That said, if anyone has a better, re: more positive but still credible, interpretation of the NY Fed data – and graph – , I’m all game. I can do with some good news. It’s been a while. But that by itself doesn’t make me a doomer. I’m just not as desparate for good news as some people seem to be. I still prefer reality. For now.