Says “it will be deeper and last longer than many think.“
From the article:
He said the United States was “already in recession” and added: “Perhaps not in the sense that economists would define it” with two consecutive quarters of negative growth.
So we are now defining economics based only on feelings? We haven’t even had one quater of negative growth. The most objective description is that we have an almost FLAT economy. Since we have apparently dumb downed economics to just feelings, I can see how we achieved a self-fulfilling prophecy of a recession.
I will be interested in what the GDP numbers are on Thursday, although Buffet and others have apparently given up on objective measures….
Sorry Buffett and company, but your “feelings” are out of touch with reality. WSJ article, URL:
GDP Grew More Than First Thought,
Increasing 0.9% in First Quarter
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