And there it is... we are officially in a recession.
And even this somewhat negative number was “cooked”, to seem to have less impact. The real number probably exceeded the number from the first quarter, which was also “cooked” to lessen its impact.
We are so screwed. With the recent increase in the basic lending rate, all the indications for a depression are now in place. Stagflation, falling real employment, a supply chain that is seemingly so broken it cannot be easily fixed, solid industrial production and processing also full of falling numbers, and current regime now occupying the Oval Office trying to spin all this as “positive”.
When pigs fly.