ViewpointsOpinionThe United States Is Borrowing to Disguise RecessionSavePrintThe Department of the Treasury building in Washington, on Oct. 18, 2018. Mandel Ngan/AFP via Getty ImagesDaniel Lacalle10/30/2023|Updated: 11/19/20240:00X 1CommentaryThe headline economic figures for the United States look robust. However, details show concerning weaknesses.Share this articleLeave a commentDaniel LacalleAuthorDaniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat” (2015), and “Life in the Financial Markets.”websiteAuthor’s Selected ArticlesIran’s Allies Abandon the Regime as Geopolitical Tension EscalatesJun 25, 2025Is the European Union Deliberately Delaying Trade Negotiations?May 27, 2025Inflation Is Not Soaring, and Economic Growth Is SolidMay 20, 2025China’s Keynesian Model Is Crumbling—It Needs a Trade Deal, FastMay 16, 2025Related TopicsGDPUS debt