Some people simply need big, sensational, and preferably negative events to fill the vacuum in their skulls and if they cannot create anything interesting in the real world, they are creating big stories in the virtual reality.
Believe whatever you want, but here’s a dose of undeniable reality: Governments have fudged economic numbers for political benefit for years, so you can’t necessarily trust “official” reports.
Look at what’s happening here on Main Street. Flea markets and resale shops are booming as people increasingly need to buy what they need at a discount. For some, it’s a choice between $4.00-a-gallon gas for the car or shoes for the kids.
Hey, we’re doing it; half the stuff in our house was bought used or handed down from relatives.
Even Wall Street will give you a clue. The Dow is down about 1,600 points since that first quarter GDP report was issued.
Here’s a clue: The word “deflation” is now being bandied about by mainstream economists. And so is the other “D” word.