THE ECONOMY IS TANKING – REAL GDP IS NOW TRACKING NEGATIVELY!
JULY 19, 2013
More economic data was released on Monday which further reinforces my contention that entire economy is in a serious decline. In fact, based on several recent economic reports, it’s probably safe to say that the GDP, on a real, inflation-adjusted basis, is now retracting – i.e. we’re in a recession.
Please note that to measure real GDP, I’m using the latest reported annualized CPI as calculated by the Government. In fact, the true inflation rate is significantly higher, which means that real GDP is in serious contraction.
Don’t act shocked when the Fed announces even more QE before the end of the year…