What Recession?

What Chair?

What Recession?

The real GDP figure came in positive again during the 2Q, showing that the economy grew at 1.9 percent. Therefore, once again every recession junkie that told us that we are in a recession during the second quarter has now been proven wrong. This marks the 7th consecutive quarter that the recession camp has told us that we are in a recession. How many quarters will it take until people stop believing them?

I read about a philosophy professor, who taught philosophy 101 for freshman at a state university. It was the end of the semester, and so he gave to them for their final exam a very simple question to answer. He took a folding chair and put it on his desk, the professor challenged his students asking the question 'prove to me why this chair doesn't exist.' All those freshman philosophy students began to ponder and write at length page after page for the balance of class. But there was one guy who was done in less than a minute. He wrote something short and then put his pencil down. And he was the only one in the class to get an A on the final exam. What did he write? Simply this, just two words 'what chair?'

Philosophies, they can be oh so confusing, but for you in me its simple. There are those in the recession camp that continue to chastise us by telling us to prove to them that this recession doesn't exist. And my answer to them is very simple 'what recession?' Because until we have two consecutive negative quarters of real GDP a recession doesn't exist. I don't need to prove the existence of a recession that isn't a reality and doesn't exist. So again I say, 'what recession?'