I think only Slow Joe actually believes the 2.2% GDP figure and he’s really not the sharpest knife in the drawer. If you figure in real inflation, we’ve got a minus GDP, hence we are still in the Great Recession.
Around the hole in the porcelein throne.
Who knows if Zer0 or mittens deed for pulling the handle is theirs to own?
I don’t fear the recession, I fear the loss of the dollar as the reserve currency. Inflation will destroy the middle class and cause shortages. The paper currency is being stressed while the financial market is over leverage and in deep debt via derivatives. All the world central banks can do is avoid the bottom by printing, swapping and assuming bad assets. It cannot go on forever. I think there will be a currency reset as emerging nations establish a separate currency system in lieu of the shrinking dollar. I think Japan, US and EU will be forced to preserve whatever is left of their paper currency by resetting it and backing it with a basket of commodities such as oil, natural gas, grains, precious metals and etc. Rumor has it that Russia may be the first nation to back her paper currency with gold. China may follow suit. Both nations have been buying and accumulating gold and have stopped the export of their own mined gold for national stockpile.
Most folks won't realize/understand that until the props fall and the stock market does what it has to do. A lot of folks look at the market and think it equates to today's economy.