Do you see how virtually all the economists are well paid to lie about the current recession and coming Second Great Depression?!
As noted above, during 2007, most media, analysts, and the economic community proclaimed there was “no sign of recession.”
They were wrong.
Today, we are once again seeing many of the same early warnings. Leading economic indicators, inverted yield curves, and the change in monetary velocity suggest the risk of a recession is elevated.
There are three lessons to be learned from this analysis:
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The economic “number” reported today will not be the same when revised in the future.
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The trend and deviation of the data are far more critical than the number itself.
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“Record” highs and lows are records for a reason, as they denote historical turning points in the data.
We suspect the bevy of WSJ economists will again be incorrect in their assumptions.
Unfortunately, we won’t have that evidence until it is too late.
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