It's a depression....not a recession
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Started by GunterK - May 18, 2020, 7:59 p.m.
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By TimNew - May 19, 2020, 3:32 a.m.
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The numbers are no doubt the worst I've seen and there is plenty of "pain"  we've yet to bear..  

But when you look at the definition of a recession,   you see 2 or more quarters of economic contraction or negative GDP.   I'm not saying we won't see that.  We'll certainly see 1 qtr  of significant contraction. Maybe two.  Beyond that?  Remains to be seen,   but energy consumption is picking up, significantly.  Can retail numbers be far behind?

I guess my point is,  it's way to soon to start calling this a depression.  Will we hit one?  Maybe,  but I doubt it.


Side note:  Author Michael Snyder has been writing about economic collapse since at least 2013.  He'll be right, some day, as all perma-bears will be.  Further, his chances of being right are better now than they have been.  There is no doubt a lot of people will be feeling pain, some more than others. But how will things look in a year?  I suspect much better than now.