The word "recession" is being used less and less in news stories as the world becomes complacently confident that the central planners have 'fixed' the business cycle. Of course, the unpopularity of the R-word was matched only by the pre-recession lows in 2007/8 before the last collapse in the US economy. In the same way that there can be no bubble when everyone is talking about bubbles... when no one is talking about recessions, we wonder what that means?
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Of course, if we don't mention it - it won't happen...
Chart: Bloomberg