Posted on 12/01/2008 9:41:46 AM PST by Toddsterpatriot
The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy .
The NBER is a private group of leading economists charged with dating the start and end of economic downturns. It typically takes a long time after the start of a recession to declare its start because of the need to look at final readings of various economic measures.
"The committee views the payroll employment measure, which is based on a large survey of employers, as the most reliable comprehensive estimate of employment," said the group's statement. "This series reached a peak in December 2007 and has declined every month since then."
(Excerpt) Read more at biz.yahoo.com ...
Ping!
Leave it to CNN to sound so giddy about it.
Stating the obvious is news?
We had better print some money and nationalize a few more corporations instead of letting the markets work. Oh, and outsource a few thousand more jobs. Because that strategy is making our economy really kick a**.
It’s been obvious to Willie since 2001. We never recovered from the last one.
Or we could elect a Communist as President. I’m sure that’ll fix the economy.
Heck, we gotta be able to blame everything that Obama screws up on GWB, so let’s redefine words......
already one year of recession
How long do recessions last usually?
It will probably end when Obama becomes president in January or soon after that so people can say that he ended the recession. That’s gonna be a good point for him for the 2012 election (sarcasm).
I truly doubt it.
We are not in a recession.
We will not be in a recession until Obama takes office.
We have had one quarter of negative GDP. We won’t now the next quarter until Obama.
Ha ha.
/s
This is pure crap. A recession has always been defined as a negative GDP for two or more consecutive quarters.
We had growth in the second quarter of 2008. Therefore no recession.
Hence, this article. Gotta make it W’s recession (although in fairness it largely is—thanks mostly to the ‘rat congresscritters though)...
You know it,I know it-the media/libs lie again.
“It will probably end when Obama becomes president in January or soon after that so people can say that he ended the recession.”
Why not!? It worked for Clinton. That’s precisely what he did. He campaigned railing against the worst economy in 50 years, and soon after Inauguration Day he turned around and said (paraphrase) “Well, it isn’t as bad as I thought it was.”
I knew that, actually think it started November 2007.
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