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"US economists say recession is over": OK, what are they smoking, where can I get some?



October 12, 2009 – Comments (0)

Yes, I will admit that the quality of quantity of truly bad news is decreasing. However: the US GNP is still deflating, and still in the midst of a true depression; the bad news is still coming, but just a little more pastel than before. Unemployment is still increasing. The U3 will probably get really close to 11% before going back down. The U$ is weak, and this shows no sign of changing.

First, this is a depression, not a recession. Second, it ain't over till the fat lady sings.

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