In a recent paper, Antoni and St. Onge (2024) have argued that the peak in GDP, properly measured, was in 2021Q4. Source: Antoni and St. Onge (2024). Notice that real GDP is drastically below that reported in the annual update a couple weeks ago. This means the deflator they use much be much higher than … Continue reading Recession since 2022? A Magic Asterisk-Mystery Meat-Special Sauce Approach to National Income Accounting