They Are Miscalculating

The media is reporting on the increasing risk of recession, based on Wall Street predictions. Or should I say manipulations?

By saying “recession” or “slowdown”, they are miscalculating at best, misrepresenting conditions at worst.

“Recession” is an interesting word. There is no universal definition as to what economic conditions constitute a recession or what constitutes a depression. Talk to different economists and you will get different criteria. None of those definitions establish complete collapse of an economy. They will use the term, “economic crisis”, even when that “crisis” lasts for years. Look at the conditions in Greece. Look at the conditions in Venezuela. In both of those countries, the economic conditions have basically been inflicted on those countries. For Greece, the conditions were imposed by creditors. For Venezuela, the conditions have been caused by US sanctions and seizure of assets.

Stock market decline. On 8/23/19 the DOW was down by over 600 points again. Which means we are quickly approaching a drop of 2000 points in less than three months. While the general economy has been suffering for years, the stock market, meaning rich investors, has been riding high through it all. We have been hearing how well the economy is doing but when you talk to real people on the street you hear a far different story.

Media complicity. With the 2020 election coming up, the media who touted the strength of the economy has changed their tune drastically. Now corporate economists are…