Some economists are starting to whisper the "R" word--recession. While it doesn't appear to be on the immediate horizon, its important to remember that the last recession began in December of 2007, but economists only knew that by looking back, after the fact. They officially called the recession of 2008 a full year after it startted. Since World War II, recessions have occurred an average of every five years. The current expansion is more than six years old, beginning in July 2009.
Meanwhile, globally, copper prices keep falling, hitting a new six-year low on fresh signs of a slowdown in China. Economic weakness in the world’s biggest copper consumer has led to reduced demand for the metal, which is used in everything from iPhones to refrigerators and pipes. Shares of mining companies have also suffered. It has directly hit economies like Australia and others. Steve and Sinclair explore multiple reports in the Wall Street Journal regarding the historic deflationary trend worldwide, keeping interest rates very low.
In the Q & A segment CPA Nick Stefaniak joins the A-Team for a lively quiz on tax planning. Fun and informative!