by Michael Snyder
The Economic Collapse Blog
We were supposed to be well into a “recovery” by now, but instead more bad economic news just keeps pouring in. In fact, the numbers that I am going to share with you in this article are absolutely eye-popping. Initially, many of the economic optimists had been trying to convince us that we would experience a “short, sharp recession” followed by a “V-shaped recovery”. Well, at this point it has become quite clear that we can forget all about that scenario. The mainstream media is increasingly starting to use the word “depression” to describe what is happening to the U.S. economy, and the raw numbers definitely support the use of that label. For example, the Atlanta Fed’s GDPNow model is now projecting that U.S. GDP will decline by 46.6 percent on an annualized basis during the second quarter of 2020…