I agree with Brian 2ck. The media is good at forming public opinion and moving people to act. I am convinced that we have not seen the end of the recession and may see a deteriorating economic environment. U.S. Household's net worth fell $2.4 trillion to $57.4 trillion from the second to the third quarter in 2010.
The job picture doesn't tell us how many people are unemployed because they cannot find a job after their benefits were exhausted.
Historically, housing has been the driver of recoveries, but an excess supply of homes has held back construction and price recovery. Many economists expect the housing market will not return to full health until 2016.
Many corporations are stacking up cash and not investing in growth. Non-financial companies held $2.5 trillion at the end of 2010.
The uncertainty of foreign markets is a worry to our international corps and to banks.
The recession prompted many comapanies to use the time to develop technology that would eliminate jobs, and many did. Ford Motor Company is an example.
My best guess is we are in a fragile economy where bad news could throw us back into a recession. People still are not spending the kind of money that will restore the GDP to 3.5 %.