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RE: "IT DOES NOT FEEL LIKE A RECESSION NOW"

I think, possibly, it is because it is expected that if the USA suffers financially, that other countries will also feel the suffering as a result of dependence on the dollar. This may be true in the aggregate. However, it does not always directly translate to the individual consumer who does not have to deal in dollars.

Obviously, this does not hold true for all countries. However, perhaps Romania is not so dollar dependent as other countries in Europe. I don't have any data to back up this thinking.

Alternatively, we may learn from the experience of Ernest Hemingway with regards to going bankrupt. He said that he lost everything slowly at first, then all at once. So, the economy may be experiencing something similar.

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