Peter Morici is a professor of international business at the University of Maryland. He previously served as director of economics at the U.S. International Trade Commission where oversaw the agency's professional economists working on ITC investigations and provided international economic policy advice to the House Ways and Means and Senate Finance Committees, U.S. Trade Representative, Council of Economic Advisors and other government agencies.
With home sales rising, new cars flying off lots, and Wall Street profits soaring, analysts see an imminent recovery, but the economy is running on steroids.