We have had plenty of recessions since the 90s but they have been disguised by the biggest Ponzi scheme (immigration) the world has ever witnessed. It is a dreadful policy where the average GDP per capita declines as a result of the new arrivals. In other words the standard of living declines. Our roads are clogged, our hospitals are full, our school education is the world's poorest ... we may not have had a recession as defined but we do have all the downsides that go with one.

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