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Monday, August 8, 2011

A Double Recession Dip?

In "The Great Recession Conspiracy", I pointed out that "recession" and "depression" are technical terms that only economists care about.  That certainly is true today.  Every talking head on TV, radio or print is babbling about a double dip recession.  What a lot of crap.  The recession never ended for 30 Million Americans without jobs or who are underemployed.  And the six million who have been unemployed for over a year really understand that fact.

Economists are so wrapped up in their mathematical models which demand precise numbers that they have no idea what happens in the real world where real people live with uncertainty.

You might want to go back and re-read the entry about "This Time Is Different".

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