The Last 7 Times (Since 1970) This Happened, The US Economy Entered Recession

Tyler Durden's picture

The slowdown in US construction spending growth is rapidly becoming another fiction-peddling chart that President Obama, Janet Yellen, and equity market bulls need to ignore...

 

Since 1970, each time growth has slowed this much, the US economy has plunged into recession...

 

It's probably nothing though.

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MrktWzrd's picture

because today  is  more like 1947 ?

The Merovingian's picture

What do you call a recession wrapped in a depression? Not sure, because the economics I learned that makes sense of all of this doesn't allow for that. So, I'll just call it a Repression .... it seems to fit the narrative nicely.

Winston Churchill's picture

That would be a Redepression(tm).

Cycle's picture

Evantually it changes into "Screwflation." Where prices of what you need to survive increase, while prices for all the rest of the baubles decreases.

NihilistZero's picture

I think the "Screwflation" has been going on for about 16 years already...

abyssinian's picture

"This time is way different!"   Uncle Yellen

BaBaBouy's picture

Build it They will come ...

Disc Jockey's picture

Nothing to see here folks! Move along...move along...

GetMeIntoThis's picture

Fed presidents didn't see that any recession is coming in upcoming months. Also they increasing rates meaning that economy doing fantastic! This time gonna be different, ask FED president!

Spungo's picture

That looks like a fairly weak indicator.

Bay of Pigs's picture

Pretty certain the US has been in recession for several years now. False indicators and gov't lies aside.

Spungo's picture

I think it started in 2011. Most commodities started crashing around that time. Canada and Australian currencies started crashing at that time. America doesn't exist in a vacuum. 

NihilistZero's picture

No coincidence that the FED launched QE infinity around that time.  There last great stab at creating a "wealth effect" just delivered us Housing Bubble 2.0 and the equities mega bubble.  The few that saw wage increases from the equities bubble pumped the Housing Bubble in a symbiotic clusterfuck of fiat stupidity.  If we'd just finished taking our medicine.  We might have some semblance of a functioning economy by now.  But we couldn't let the Big 4 banks, who ARE the FED,  realize their RE portfolio losses.  Instead the housing stock is funneled through REO to Rent intermediares who are now selling their positions to greater fools.  And whose financing said fools?  Fannie Mae and Freddie Mac.  Or as they are commonly known the US tax payer. . And even if you pay no income tax, you're still paying when you buy the half size bag of potato chips that cost twice as much.

For fuck's sake I truly do hope and believe that Trump is the real deal.  I believe he stepped into a vacuum where even the oligarchs have no idea what to do (outside if Soros and the evil NWO globalists).  Trump is not only representing the working class,  but those millionaires and billionaires who aren't in the NWO club.  They see their business models falling apart. It's an existential crisis for most business in America.  They are realizing they Need those domestic consumers after all an that their brothers in wealth lied to them about globalization.  The American millionaire and the American worker are pretty much in the same boat.  Trump is the fulcrum to take American industry back to its roots where there was no animosity between labor and management and the rising tide did truly lift all boats.

Devils Advocate's picture

Recession, come on, there will never be one of those again!

starman's picture

Meh , nothing a CB can't solve.

Bush Baby's picture

That's right.

The fucking corruption is like an iceberg , we only see 10% of it and the 90% you don't see will rip a hole in your boat and sink you.

pickatheweek's picture

Recession?  Ohhh, noooo, don't ever mention the "R" word...not possible under n0bama's watch.  All the fat cat DC scumbags and WS elites at Goldman who've been livin it up in the hampsteins are all probably short this shitshow now.

SelfGov's picture

Each of these recessions correspond to a peak in oil production of a major nation (or globally as per the last recession).

The US just saw oil and gas production peak and then decline. Of course there is going to be recession.

Unknown Rider's picture

The last seven times this happened we didn't have obama as president - there will be no obama recession, by order of obama himself. The recession will need to wait for about 3 weeks following Trump's innauguration so that he's had enough time for the media to brand it as something other than the obama recession.

Baby Eating Dingo22's picture

Not that Obams any better, but Bush pulled the same "economy's great" BS

They are all liars

silverer's picture

But things are different now. We can pretend better than we could just a few years back.

CHoward's picture

Remember it's all about Obama's legacy - so NO RECESSION UNTIL after he vacates the Oval!  Got that?  Good!

pundog's picture

Cassandra  never rests.

Iconoclast421's picture

1993? 2006? Hello? I love it when people cant even read a chart.

Bear's picture

Yes ... but those don't fit the narrative.

Angry White Guy's picture

I have no doubt in my mind we already ARE in recession...that is if you believe the BS that the LAST one ever ended, which it didn't for 99% of the US.

If Trump is elected, the Fed will allow things to completely crater.  If Clinton is elected it's more printing, more distortions, more misery, and most likely another large scale war (that needs to be financed, of course).

November 2016 seems increasingly likely to be some sort of special junction in the space time continum.

highly illogical's picture

That was a very click bait headline

lsd's picture

That's an upgrade for economy, we move from depression to reccesion, good times!