Date registered: Aug 2005
Location: Lawrence, KS (USA)
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
This one fully exists. It only "doesn't exist" on the technical definition which, from everything I read is starting to be revised as it no longer reflects the reality of defining the parameters of a recession.
Unfortunately, it is a recession. The only people who keep going back to old textbook definitions are those who need to spin it otherwise. By the time this one is through, that "6 month compression" definition will be a think of the past as it already is with many.
Put another way, the FED does not react with an open checkbook to a non- existent economic condition. Afterall, Bernanke's one subject of expertise is the Great Depression.
Until we get two quarters of down GDP "this recession" does not exist. No one can deny that we are in a slowdown in some sectors of the economy, but to continue to call it a recession is just more fear-mongering BS (Bear Shit)!
Put another way, the FED acted to PREVENT a recession, and I think they did just that.
Don't believe everything you think