We never exited the recession that started in 2008.
We already knew this. Eff the CNBC types and talking heads...the only thing that ‘recovered’ was the stock market..and that only because the printing presses never stopped via QE1,2. There are an awful lot of gullible people out there who may believe we ‘recovered’, then there’s us. We have the media to overcome..but the message is clear, 0bamanics is an epic failure.
The phrase “Greater Depression” was coined by Doug Casey a decade or so back as a way of describing the economic crisis he foresaw as inevitable, and which is now materializing.
Yes, and now it's in bubble territory and Bernanke has no choice but to start QE3 to try and keep it inflated (no pun intended) through the election. It's the only positive-looking economic news this administration has.
We may never see the widespread price inflation that the growth in the money supply would suggest; just like in 1929 after a decade of Fed-pumping, everything will "mysteriously" collapse.
I do not envy the next president.