Wrong. Iceland’s economy, which crashed in 2008, is now growing at a respectable 2.8 percent. Economists, you have some explaining to do.
Here in the United States, Americans might wish they lived in the shadow of volcanoes to get a sliver of Icelandic happiness. America's economic recovery – the subject of much debate in this presidential election year – appears to be slowing, meaning that America’s relatively high unemployment rate of 8.2 percent may be around for a while.
This is a great time for people with calculators and pie charts, but not so great for people who like things explained to them with words. The helpful economists at Deutsche Bank inform us that economic recoveries generally run out of steam after 39 months, so America’s 36-month expansion may be coming to an end.
The Council on Foreign Relations has a handy set of graphs that compare our current economic recovery with past recoveries, which again, is unlikely to make one break out the credit card in celebration.