“In sum, when we disaggregate the recent increase in personal income, we find signs that the recovery has been weaker and less sustainable than many observers have taken it to be. Not all sources of personal income are created equal, and in the present circumstances, not even the rise in personal rental income counts as grounds for optimism. Because the recovery, such as it is, has begun only recently, it may acquire a healthier tone as it proceeds, if indeed it does. For the moment, however, we must recognize that recent changes give little warrant to the expectation of a full, sustainable recovery in the near term.” (03/17/10)