Finally, a refreshing breeze of economic sanity…..
From John Lott: A recession is defined as two consecutive quarters of negative growth. But we haven’t even seen one quarter of negative growth. In fact, the last two quarters have shown nothing short of phenomenal growth. During the third quarter of last year, GDP grew at an annual rate of 4.9 percent, twice the normal growth rate. The second quarter last year saw a growth of 3.8 percent. The new numbers for the very end of last year will be released on Jan. 30, but they are unlikely to show negative growth.
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