The Economy, Lounge Style

[tw0please]

Agreed, GDP isn't perfect. But the components do not point to incipient recession. Consumer spending is very strong, indicating positive overall confidence in the economy. Employment and wages are up. Construction is down as expected. You claim that the units of measurement are wrong is but you haven't pointed to any specific "better" measurements that show current direction of growth is up, down, or otherwise. I understand that you don't subscribe to the traditional economic views but in the end someone has to measure something in order to know exactly what's going on; saying that all assets are mispriced because of U.S. monetary policy doesn't do anyone any good other than make people feel frustrated that there might be something better out there but no one can prove it's better.