Most of the US economy is already in a recession, and GDP is only being propped up by tech, market vet says
Summary
Business Insider reports that veteran market strategist Jim Paulsen argues most of the US economy is already in a recession, with GDP growth largely propped up by tech spending labeled as 'new era' investment. Excluding this tech-driven subset, private real GDP growth was weak in 2025 and there was little job creation, highlighting a bifurcated economy where the tech-led portion booms while the rest lags. The piece compares this split to a stock market disparity (Mag 7 vs. the rest) and discusses implications for investors and policy.