But… but we already are in a recovery!

This seems to be a rather strange way of talking about the recovery that supposedly began in April, May, and August, depending upon whom you believe:

“Despite some encouraging signs in the global economy, it is difficult to predict the timing and pace of any economic recovery.

I wouldn’t be surprised if GDP turns positive soon in a “better than expected” shock. But, as even Paul Krugman has pointed out, unemployment is the more significant statistic despite it being designated a lagging indicator. What we’re likely seeing is the result of the increased politicization of economic statistics, which has caused the divergence of the metric from the object of measurement.