Another recession in the ongoing Depression. As it was in the thirties so it is now. The Great Depression was composed of expansions and recessions with the unemployment rate never decreasing to normal levels. Counted the way that unemployment was counted in the thirties, our smaller numbers become equal to those of the thirties. Actually. there may have been no actual expansion at all if you count price inflation the same way it was counted thirty years ago. That gives us unremitting “recession” since 2008.
yep, the only difference between now and the 30’s is the welfare system, which is hiding the truth.
That is my take on it. I guess we will find out in another 5 years or so. We currently are running trillion dollar federal deficits and the fed is pumping a trillion a year into the financial system to prevent it from collapsing. What do we have to show for it? A .1% decline in 4th quarter GDP. Food stamp participation rates still at all time highs and a labor force participation rate at generational lows.
The county I live in has 25% of the population living at the poverty level or below. It has never been that bad. But if you listen to the financial MSM, we have turned the corner and everything is now going like gang busters.