Green Shoots Turning Brown

Big banks still not lending. Loan volume at the 21 largest recipients of government funding fell 7% during the month of April, according to a survey by the Treasury Department.

This is a headline from CNN Money. Surprised?

The Federal Reserve Bank of New York’s general economic index fell to minus 9.4 in June from minus 4.6 the previous month, while economists had expected the gauge to stay unchanged. Readings below zero for the index signal manufacturing is shrinking.

This one is from Bloomberg.

A little more time before all "Green Shoots" turn brown. There is no reason yet to believe that the US economy is recovering.