I've been reading in the news lately about the recession being declared in Germany, UK, and Japan (am I missing any others?). They don't spell it but they imply it is because of USA's latest economic blunder. But AFAIK to declare recession you need two trimesters of negative growth, so the USA situation may add to the problem but is not the cause. I guess the cycle was already coming down, no matter what the economists want us to believe they got no bloody idea about what causes these cycles or how to stop them. Any comments?
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