I’ve noticed many people overreacting to recent good economic news…I worry that policy makers will look at a few favorable economic indicators, decide that they no longer need to promote recovery, and take steps that send us sliding right back to the bottom.
So, about that good news: various economic indicators…suggest that the great post-bubble retrenchment may finally be ending.
We’re not talking Morning in America here. Construction shows no sign of returning to bubble-era levels, nor are there any indications that debt-burdened families are going back to their old habits of spending all they earned.
I’ve isolated and put in bold the money quote for effect; by all means go look at the context if you are suspicious. But I really don’t think he is saying that with irony.