Recession 2.0

Looks to me like the U.S. is back in a recession that began in the late spring, perhaps in May of 2011. I have been watching some data – about half of which turned down in the 2nd quarter – and the other half was positive but nothing to be excited about.

It may not be an official NBER declared recession, but it will still feel like one.

The country’s population goes up about 1% per year and if GDP growth is less than 1%, wouldn’t that mean per capita GDP growth would be negative and feel like a recession at the individual level?


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