So imagine double-digit inflation with 2% GDP growth. You would be really shrinking at 8%. Today we saw that wage gains in the second quarter were 0.2%. Well, 0.2% in the quarter is like 0.8% for a year. I can assure you that everyone’s increases in
It tends to distort all the numbers. It makes GDP way higher than it would otherwise be and tries to keep a certain calmness in a very, very difficult economic environment.
- Source, Eric Sprott via Proactive Investors