copious.abundance wrote:According to peripato's chart, and his reasoning, there were, in reality, no recessions between about 1963 and 1998, because the LFPR was rising. Even though there really were. After all, if the LFPR is going to be our measure of what constitutes a recession/recovery, then there cannot be a recession when it is rising, if, as he claims, there cannot be a recovery when it is falling.
As for the velocity of money, its current low level has everything to do with the Fed's purchase of treasuries the past several years. If it weren't for that, it would be a lot more normal-looking. You'll have to research that yourself.
You see, the doom and gloom crowd is pretty desperate these days to find some way to claim there has been no recovery, so they're forced to cherry pick increasingly obscure stats and mis-interpret other stats in order to maintain their illusion of doom. But then, I've been pointing out that for at least 3-4 years too.
Sanctimonious git.