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Hussman: Second Recession Will Be Declared Soon
Economist John Hussman says the National Bureau of Economic Research will have to declare another recession soon.
Commenting on a recent report from the Business Cycle Dating Committee of the National Bureau of Economic Research that said the recession that began in December 2007 is over, Hussman noted that, “the committee decided that any future downturn of the economy would be a new recession and not a continuation of the recession that began in December 2007.”
“The Committee took pains to make it clear that it was not forecasting the future or suggesting that economic progress has even been very good,” Hussman wrote in a recent note to investors.
He said the bulk of the growth coming off of the June 2009 economic low “was driven by a burst of stimulus spending coupled with a variety of programs to pull economic activity forward.”
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