Are we already in a recession?


I am baffled. I really do not understand what the analysts are thinking. I just do not see any strength in the economy. See for instance the above chart (click on the chart to enlarge it).
It shows the growth of industrial production over the previous twelve months. It is sinking, plunging, tumbling.
Just review all my previous posts. I showed you the important indicators released by various government agencies and business associations.
They are all unanimous. The economy is going through a massive deceleration. Yet, all the smart people interviewed on TV and the radio keep reminding us the economy is growing and the Fed needs to tighten.
I look at the facts, the hard data, and I see a lot of bad news. I let you decide.
I am probably wrong. As always, time will tell.
More details in The Peter Dag Portfolio on www.peterdag.com

George Dagnino, PhD
The Peter Dag Portfolio
Since 1977
Author, Profiting in Bull and Bear Markets
No. 1 bond timer in the past 12 months. 

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