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From: ahhaha8/6/2012 3:31:16 PM
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One guy says the economy is expanding, the other, in a recession.

I agree with the latter and have for some time. If the economy is expanding at 1 - 2% as the expanding guy claimed, that's a mild depression. It isn't a recession. There has been no economic environment in place since 2003 that could be called a recession. Actually, there has been no environment in place since the '70s which could admit a recession.

A growth rate of 1 - 2% on a sustained basis is worse than a recession because its persistence inculcates structural depression. People adapt to growing poorer.
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