If you've been following the news in the last couple of days you've no doubt heard the financial wizards debating whether the current market setbacks portend the start of a "new" recession. Some insist a "new" recession is underway; others insist that the latest Wall Street panic is merely a speed-bump on the road to recovery. (Some of these call this a "low trajectory" recovery, as if it were an aimed cannon ball or something.)
Rubbish.
All of these experts are totally off base. How can we start a "new" recession when the one we've been struggling with lo these past several years still hasn't ended?
1 comment:
Is it a new recession or the old one continued?
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