Why wait till it is over like the National Bureau of Economic Research does?
I’m officially announcing it: we are in a recession.
No, not because of the ISM report but because of this little factoid:
And according to Google Trends, a lot of people are freaking out about it:
The first spike up was after the February 28th 2007 market meltdown (which was blamed on the Chinese market’s gyration). But now we’re setting new highs in the number of people searching for the word recession.
Which means that the Fed is continuing to play catchup as they have been since their founding. They should be much more aggressive in cutting rates.
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