I took a screen shot of the following headline.
Then I took a screenshot of the following Image.
![](https://jamesquillian.com/wp-content/uploads/2023/05/042723_Homeless2-1024x576.jpg)
Homeless people set up tarps and tents in downtown Los Angeles in May 2016. (Brian van der Brug/Los Angeles Times/TNS)
Mainstream economics is concerned with the first image. Fantasy Free Economics focuses on the second image.
Mainstream economics is a statistical exercise. At what point are we in a recession? Is it when statistical numbers say yes…. or, do we believe what we see with our eyes?
So, are we in a recession? How do we decide?
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