There is no recession!

Ok, all of you Chicken Little’s out there with your sky falling. Let me get one thing straight. THERE IS NO RECESSION! Yeah, you read right. NO RECESSION! How do I figure? Well, a recession is a mathematical fact defined by a decrease of the Gross Domestic Product (GDP) for two or more consecutive quarters, (read: six or more months). Guess what? According to the U.S. Department of Commerce, Bureau of Economic Analysis, the U.S. hasn’t had a recession since 1982, that’s right, 1990Q4 and 1991Q1 were two consecutive quarters where the GDP was down. Accordingly, the GDP has been up every quarter since G.W. took office, except 2007Q4 and the quarter he took office, and then, it was only down 0.04% and 0.12%, respectively. Now, there are indications that we might be leading into the start of a recession, but that won’t be finalized until the end of this month and even then, preliminary reports show that the GDP will actually be up again this quarter. So the FACT IS: WE’RE NOT IN A RECESSION!