The Great Recession never ended. I say that because the deep economic flaws that caused it were never corrected. All recovery efforts since merely clouded our eyes to the problems growing larger around us, even making them worse, and now we are going back into the belly of the Great Recession.
The recovery was all a prop, which is why I call it a fake recovery. In September, we entered the second part that I’ve long said would hit when the props were removed. (To be clear, I don’t mean predicted to happen in every year I’ve been writing on economics, but that I have said throughout those years would come when the Fed unwound its recovery efforts. Well, the Fed did, and we’re here!)