Most likely, we already are in a deep recession, maybe even depression - which is covered up by deficit spending - which is made possible, for the most part, by the Fed. Without the Fed's printing we would probably be in a deep deflationary slump.
whatever inflation there is FEELS much worse because wages and hours worked are so stagnant....iow, the pain at the pump is extremely acute, same with groceries, or insurance, or education, 'health' care (but oh wait, inflation is 'tame' because the cost of smart phones and laptops are plummeting)
sam zell is on cnbc this morning saying that that the business purchases (in IT for example) are being deferred, signaling a recession....at 1.3% 'growth' ( considering that inflation numbers are misstated) i would say the economy is indeed already in a recession, and whatever 'recovery' has been at stall speed, hence no job real creation....not exactly a recipe for growth |
