The Great 'Gray Crayon' Strike of 2024. Where is the Recession?
Here's a slew of economic data. What's missing? 'Gray Crayons'.
That phrase 'Gray Crayons’ is of course euphemistic, for there are no shaded areas depicting periods of recession on these graphs.
Why is there no recession yet?
Here are a few reasons: US Treasury Secretary, Janet Yellen, continuing $2 trillion in deficit spending (heading toward $3 trillion) and Jerome Powell at the Federal Reserve, continuing bank bailout funding (BTFP-surely this program will be extended) , along with all the post-COVID-era money still sloshing around in the economy to include PPP loans, mortgage/rent forbearance, and now student loan forgiveness, etc. All these activities are inflationary-government has created more money supply but we as a nation, have not produced more goods or services for that increase in money supply.
