Jobs Report Optimism from Greg Ip

Good discussion of the increasingly optimistic tone in the U.S. economy by Greg Ip, at the blog of The Economist. He keys off of today's strong jobs report. I think he's more or less right here. My only quibble is that Europe is OK for now because of heavy intervention by the European Central Bank, but it's not actually healthy (the banks there need more capital). And I remain a little concerned with how far the U.S. economy is from an equilibrium state, with the equilibrium bringing, when it comes, higher taxes and higher interest rates. Still, though, he's right that things are improving and gives a balanced reading of the data and trends.