Jupiter's Anthony Nutt: Quick return to 'normal' growth unlikely

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It was once said the reason why drivers on our motorways failed to slow down in thick fog and so crashed in multiple collisions was because the authorities had failed to provide illuminated gantry signs explaining the fog was fog.

However, had the signs been there, drivers would not necessarily have been able to see them – because of the fog. Some highly cyclical equities, such as mining stocks, appear to be behaving in similar cavalier fashion, so it may be better not to tailgate them. Global policymakers have done a remarkable job in stopping Western economies falling into a deep depression. Yet what currently looks like a V-shaped recovery may have more to do with a technical rebound from depressed levels of economic activity than an indication normal service has been resumed. Indeed, a quick return to ‘norm...