Quote:
Originally Posted by cartman
Usually economic depressions are defined as recessions lasting longer than 8 quarters. And recessions are usually defined as two or more quarters of negative GDP growth. Since we've had an expanding GDP, then the term depression doesn't fit in an economic sense.
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Where did that expanding GDP come from though? Take apart the numbers and apply some math and I think you see a whole bunch of minus signs and a big whopper of a positive balance. Take out financial gimics and we have been shrinking during the years of negative employment growth (reads as a slight recession and then growth after the gimics) followed by slow growth on the charts now (with a lot less financial gimics though).
If you can paper things over with a few trillion in 'liquidity' I can give you an expanding GDP for the next century as long as I can find enough suckers, immediately followed by a hyperinflation event and some form of reset. Unfortunately I think this has been the plan for about 80-90 years now....