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Is the U.S. economy's current expansion past its sell-by date? Will we soon go back to the employment levels we had before 2008, or did the recession do lasting damage? Macroeconomists wrestle with these questions, but usually without much success. I find this article interesting, as it talks about how business cycles are seeming to look outdated, and how the concept should be dealt with in a different than as a cycle.

Business Cycle is the fluctuation in economic activity over time and is characterized by four distinct phases- recovery, growth, decline and recession.

Economic growth in the US remains on a steady path, according to a markets-based estimate of the macro trend. The Macro-Markets Risk Index (MMRI) closed at +6.8% yesterday (Mar. 9). The benchmark's readings so far this year have remained in a tight band of roughly +5% to +10% - a signal for anticipating ongoing economic growth.

This is an article that explains what we've learned in the past few weeks, that necessities are inelastic compared to luxurious products. Furthermore it gives information about the customer types and even explains a strategy that can be used when consumer income elasticity is high. It also mentions that products have a "life cycle" and that this cycle is also a determinant in consumer behavior. Lastly, it adds that best method to determine income elasticity is to do research surveys.