[HawaiianGecko]

 The ten year expansion ended in March of 2001 [the peak] and the end of recession beginning of expansion [the trough] occurred in November 2001.  Start with the link in my last post.

There is no reason to sit here and belabor the point.  The National Bureau of Economic Research (NBER) is THE authority on recessions.  Arguing against what they say is like arguing with Einstein that he cannot spell his own name because you know the 'i before e except after c' rule and he got it wrong in his own name twice.

While it may be intriguing (not to mention humorous) to debate the man using the point above as ammunition, he and the rest of the world will peg you as foolish for for challenging the very authority that defines the subject... Albert on the spelling of Einstein and NBER on calling recessions.

 

[JLS]

There is no reason to sit here and belabor the point. The National Bureau of Economic Research (NBER) is THE authority on recessions. Arguing against what they say is like arguing with Einstein that he cannot spell his own name because you know the 'i before e except after c' rule and he got it wrong in his own name twice.

Hardly. The NBER make the call, really A call. A recession is not really a very precise term. Their call is an opinion. The MSM give much weight to their opinion. I don't give that much weight to the MSM. I am a profession economist and as I said above the NBER is not without its own biases.

They made the strange call to call a recession in 2001 but leave out the first quarter of negative growth. That is very odd to me. But of course they mostly work in fancy Eastern schools or in DC where the GOP is not popular. Given the chance to call this an inherited recession or say it is Bush's fault, they chose the latter. That does not make there opinion the only one. Lott apparently has a different one. He may have his own biases.