During the stock-market histrionics over the last three months, I never joined the recession camp. In fact, I poured a bit of derision upon the doomsayers in “Companies Add Jobs for 18th Straight Month – Investors Jump Out Windows“. That was on September 2, 2011, where I wrote things like:
“Is it possible for a recession to begin with rates at 0%? I suppose so, but it’s not something that has happened in the last 60 years.”
And today, third-quarter GDP came in at 2.5% – which is not only not a contraction, but is almost double the 1.3% growth of the second quarter.
The moral of the story is that I, like, totally nailed it.
Note to perma-bears: Hang your heads in shame! Especially you “Tyler Durden”!