Posted on 09/16/2009 6:59:58 AM PDT by fiscon1
Following Bernanke's remarks yesterday that in his opinion the recession is over, the market indices all moved up about a half percent yesterday. Technically, we need two straight quarters of economic growth as measured by GDP. Yet, Bernanke is using the new economic math as I described yesterday. Back when I first learned economics, recessions and other economic measures had objective measures. In this case, a recession ends when there are two straight quarters of growth. Yet, now, economists like Bernanke come up with their own dubious measures that have no objectivity.
(Excerpt) Read more at theeprovocateur.blogspot.com ...
Bernanke said the economy likely is growing now, but it won't be sufficient to prevent the unemployment rate, now at a 26-year high of 9.7 percent, from rising.
oooooo-k, just what is Ben's "new" leading economic indicator?
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