Historic Drop in GDP With Inflation Rising. Collapse Coming Soon!

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Bad to worse: US economy shrank more than expected in Q1
The U.S. economy contracted at a much steeper pace than previously estimated in the first quarter, but there are indications that growth has since rebounded strongly.
The Commerce Department said on Wednesday gross domestic product fell at a 2.9 percent annual rate, the economy’s worst performance in five years
The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country’s gross domestic product (GDP)
Americans Are Taking on Debt at Scary High Rates
Personal debt ratio hits record high of 163.7%

Sources:
http://www.cnbc.com/id/101787838
http://www.investopedia.com/terms/r/recession.asp
http://time.com/8740/federal-reserve-debt-bankrate-consumers-credit-card/
http://www.cbc.ca/news/business/personal-debt-ratio-hits-record-high-of-163-7-1.2462954