Obama’s Recession Arrives: Double Dipper Officially Started Last Friday .

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Pete the Banker will undoubtedly have more to say on this later and tune into the program today (11-3 AM 860) for more info, but the big brains at one of the nation’s trusted economics blogs confirms what many others have feared: it’s another recession.

H/T Gateway pundit (here) for info on this from the Zero Hedge blog (here) where they confirm the US “quietly entered recession last Friday.”

What is just as important is that as the following chart from Bloomberg demonstrates, the YoY change in real GDP, which is now at 1.5%, is a slam dunk indicator of recession: “Since 1948, every time the four-quarter change has fallen below 2 percent, the economy has entered a recession. It’s hard to argue against an indicator with such a long history of accuracy.” 

Here are the pretty pictures:

Tell ’em where you saw it. Http://www.victoriataft.com

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