There Is No Recession
I've written periodically here since the beginning of this year that I expected the U.S. to enter into recession in the second half of 2012. It has not happened, and by any measure it looks highly improbable at this point. A recession may occur in 2013 in conjunction with the fiscal cliff and sequestration issues, but that's a separate issue that I will address at another time.
The genesis of my recession call for this year was that Europe would experience a Lehman-type event that would shock the global economy and that U.S. housing values and sales would again decline as owners rushed to sell ahead of the expiration of mortgage debt forgiveness at the end of 2012....464 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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