New Data Confirms: The Recession Started A Year Ago
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It wasn't actually the record downgrade to payrolls that stood out the most. Far more importantly, the QCEW confirms there is a very good chance a recession began LAST YEAR. Not just the forgotten how to grow kind, a full-blown one, even mainstream Economists and the NBER will be recognizing. The evidence continues to show we all went from forgetting how to hire to remembering how to fire. The Fed's fifty next week is all but set.
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