Skip to comments.June Recession Call Looking More Likely
Posted on 09/28/2012 7:23:52 AM PDT by Kaslin
"Unexpected" weakness and downward revisions are hallmarks of the beginnings of recessions. And so it it with durable goods. Economists had forecast a gain, instead there was a 1.6% drop. Moreover July was revised lower as well.
(Excerpt) Read more at finance.townhall.com ...
Not “unexpected” here. For some time I’ve been saying we actually went into another recession back in the early summer. The government bureaucracy is frantically trying to massage the stats to show we are not, and the news media are aiding and abetting them. We are in fact in a recession, but it is not scheduled for public announcement until Thanksgiving. Gotta get 0bama re-elected first, you know.
I believe truck freight began to go down about that time.
No surprise to me. We’ve been seeing and feeling it now for at least three months.
We have been beyond a recession for a year. This is the beginning of a Depression. And it ain’t gonna be pretty.