WHAT AM I SUPPOSED TO DO WITH ALL THESE APPLES & PENCILS IF THERE'S NO DEPRESSION?:

U.S. Productivity Advances Solidly (Prof. Peter Morici, 3/14/2007, Global Politician)

Tuesday, the Department of Labor reported productivity in the nonfarm private business sector increased at a 1.6 percent annual rate in the fourth quarter of 2006. This was a sharp improvement over the 0.5 percent decline recorded in the third quarter.

Average productivity for all of 2006 was up 1.6 percent over 2005.

This solid performance indicates the growth potential of the U.S. economy remains significant. [...]

The slowdown in productivity growth recorded in the third quarter was likely attributable to the adjustments in capacity utilization and investment imposed by the housing slowdown and jump in energy prices. Those were temporary events, and productivity growth should be strong in the months ahead but especially in the second half of 2007

The U.S. economy continues to bang out new products and more efficient methods for making goods and services. Little good evidence has been offered to explain why the process of accelerated innovation that began in the 1990s should dissipate now. Productivity will continue to surge in the months ahead. Coupled with a one percent annual growth in the labor force, the economy can grow 3 percent a year with the right mix of fiscal and monetary policies.