American Economy (thus world economy)

[Jackson50]

NJ5 said:

MontanaHatchet said:

And without following your link, I don't give much credibility to a man who believes that the U.S. economy will "tank" within this year (in other words, the next 3 months), especially with Christmas approaching. Maybe the nation will see poor year over year growth, and maybe the economy will even shrink (but that's entirely unlikely). Yet...how is it going to "tank?" Maybe you can call doom and gloom in the next 5 to 10 years, but right now, there's no reason to believe that the global economy will somehow collapse.

Oh, you believe the government's statistics which show GDP growth? Here is a handy link to destroy that illusion:

http://financialsense.com/fsu/editorials/schiff/2008/0905.html

3.3% GDP growth? Nope, more like a 3.5% decline. The USA is already in recession. Of course, the mainstream and most of the financial media didn't even touch this.

 

There is actually a reason as to why the government used a low GDP deflator rate. I do not wish to explain all of it in here, but the provided link will explain it.

https://www.ftportfolios.com/Commentary/EconomicResearch/2008/8/4/gdp_report_mis-underestimated