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Recession? What Recession? The View From The Montana Log-Cabin As Gold Continues Rebound

By Nigel Somerville | Saturday 30 July 2022

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

I am reminded of the words attributed to Prime Minister Jim Callaghan during the Winter of Discontent by The Sun. Callaghan denied having said “Crisis? What Crisis?” and today it seems that President Biden is having the same difficulty understanding the word “recession”. He tells us that this doesn’t look like a recession to him – but the standard definition being of two quarters of negative growth says otherwise: US GDP fell by 0.9% in Q2, following on from a 1.6% drop in Q1. That should be ringing alarm bells, rather than being the cue to try to challenge our intelligence.

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