By Benjamin J. Butler
Santa Monica, California
As I landed on US soil for the first time in a while, I was greeted by the headline in the WSJ, “US in Weakest Recovery since 1949.” Some pundits think, though, that as inventories pulled GDP back to 1.2%, the next quarter will naturally bounce. I think that is a flawed analysis as inventory to sales ratios are at worrisome levels. But as I wondered around Santa Monica for the last few days, you wouldn't necessarily feel the precariousness of the US economy.