This isn’t an “economic rebound;” there was never a recession

Source: American Consequences
by John Tamny

“An economy is but a collection of individuals, and recessions are usually a bullish signal of individuals fixing bad habits. Recessions are recovery. Think about it, and also please think about what frequently happens to us during relatively prosperous times. Some of us develop bad habits: we sleep later, exercise less, work less carefully, and perhaps work less than we do during the bad times. Precisely because earning money is easier during the good times, our personal habits sometimes aren’t as strict. … As individuals, success sometimes affords us habits or lack thereof that aren’t sustainable if long-term success is the goal. Thus the beauty of recessions. Far from a bad word, it’s during recessions that our individual IQs rise, and we’re forced to come to terms with what we’ve been doing wrong.” (06/08/21)