The CPI economic growth index indicates our economy is growing at a rate of about 2.5%. Simultaneously, however, the official rate of inflation is 2.5% (nearly 6% if we look at the real numbers). What this means is that not only is the economy not growing, we are actually in a growth decline of at least 3%.
By economists’ definition, a recession is a period of time in which we experience negative economic growth for two quarters. Given we’ve seen a real decline in economic growth for at least the last five years, does anyone still believe we’re out of the recession?
via House Sales Plunge – LewRockwell.com.