“This Is … a Ski-jump Recession, with Short-term Stimulus Creating a Bump That Will Ultimately Lead to a More Precipitous Decline Later”

Kevin Harrington, managing director at Clarium Capital Management LLC – which manages over $2 billion dollars – told Bloomberg:

If we have a recovery at all, it isn’t sustainable. This is more likely a ski-jump recession, with short-term stimulus creating a bump that will ultimately lead to a more precipitous decline later.

We haven’t fixed the problem. We’ve just slowed down the official recognition of it.

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