By the way...imports dropped more than exports dropped. Hence, there is a net negative impact on imports which causes GDP to look better than it is.


Recessions happen. Are you a believer that the normal business cycle no longer exists? Hasn't the govt. had all the tools in the past (spending and rate cuts) to boost the economy? If nothing is different from the past then recessions will happen again.


Tell the Japanese that rate cuts boost the economy. They have been at near 0% for a long time and are still having problems. It is all part of the normal business cycle.