Yup, the theme of my recent posts continues. Charle's Biderman finds the quantitative evidence to prove what I have been saying for the last several months: that we're back in recession. Worse, this recession is starting before we have come anywhere near recovering from the last which started in 2007.
Once again, this is eerily similar to the depression of the 1930's where there were short periods of growth followed by new recessions. And keep in mind, it is my opinion that the "growth" we've had in the last several years was not growth at all if one looks at REAL inflation and not the tortured statistics our government now puts out. When that is taken into account we have been in an economic depression for many years. But soon even using or government's own statistics they will not be able to deny the lack of growth. The recent revision of Q4 2012 GDP from -.1 to +.1 makes no difference.
At some point the US stock market will have to accept and come to terms with this new reality. I suspect when it does it will happen very quickly and these new highs will become a distant memory.