I want to make sure I am on record in forecasting a permanent depression. This is while others are calling for a recession or a simple depression. What if an economy experiences two consecutive quarters of negative economic growth? That by most is deemed to be a recession. Government statistics are always as positive is they possibly can be. The real situation is always much worse.
Now, some are challenging this time honored definition of what constitutes a recession. Why call it a recession if we don’t have to? Certainly we shouldn’t want Americans to be discouraged.
I don’t follow government statistics. Continue reading
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