Bearish Economist Sees Signs of Recovery

“The larger corporate sector is doing quite well. Big manufacturers are doing really well now. But in the small business sector, we're seeing still jobs disappearing,” said Ian Shepherdson, the chief U.S. economist at High Frequency Economics. “We're seeing very weak capital spending. We’re seeing very miserable sentiment, and I think a lot of that can be traced back to the problem with contracting credit.”