- According to Investopedia, “A depression is a severe and prolonged downturn in economic activity. In economics, a depression is commonly defined as an extreme recession that lasts three or more years or which leads to a decline in real gross domestic product (GDP) of at least 10%. in a given year.”
- George Gammon explains that since the 2008 financial crisis, the Consumer Price Index has been rising at a higher rate than the GDP deflator, which the government uses to calculate published inflation data. Using real numbers, or “shadow stats,” shows an even bleaker picture that shows the U.S. has been in a depression for the last decade-plus.
- Gammon continues by pointing to increased government regulations (especially around pandemic-related mandates), higher taxes, and economic stimulus as factors that will likely lead to a massive economic depression as soon as 2022.
Originally posted on George Gammon