The reason why recessions are backdated is because economists NEVER see them coming in real-time. For example now. Worse yet, Trump's sugar high tax cut has obfuscated the data like never before. For the first eight years post-2008, gamblers cheered bad economic data, because it meant more Fed stimulus. Now, Fed stimulus is being removed at an accelerating rate, yet gamblers are still expecting a happy ending. Because, they've been lied to for too long.
This is the delusion that is WIDELY and I do mean WIDELY believed: The U.S. is winning the global trade war. And tax cuts are stimulative:
"Europe is slowing down. Asia is slowing down. We are moving rapidly. "Right now, the U.S. is carrying the ball. I don't see an end to it. With all due respect, I don't think this is anything resembling a sugar high"
With all due respect Larry, you're a big fucking moron. This is the inconvenient truth about GDP "growth":
"Faster government spending accounted for nearly half of the acceleration, according to The Wall Street Journal analysis."
And yet even the Wall Street Journal missed the main point. Because they forgot to add in the tax cut itself. Which was ALL borrowed money. Where do they think "Consumer" and "Business" got all of the extra money to spend? Only a country with a reserve currency can get away with this many "free money" dumbfucks running amok.
At $780 billion, the U.S. Federal deficit is 4% of GDP. Meaning that debt is growing faster than the U.S. economy.
It gets far worse, because the sugar high is wearing off, yet the dunces at large still believe the delusion.
"A stark pickup in government spending, particularly in defense, has helped fuel a broad acceleration in U.S. economic growth in the past year and a half"
