There's A Catch

CNBC's Dennis Kneale declares the Great Recession over. "Dow 10,000 here we come."

What he doesn't tell you is that the Dow will hit 10,000 again sometime around late 2011 or early 2012, not to mention a good year plus of double-digit unemployment. Or longer.

We've got a whole lot of puttering back and forth in the 7,000-9,999 territory to go for the next couple years, kids. Look, things aren't going to go back to where they were in 2005. Not for a long, long time, and in the case of some economic factors, never.