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To: garyhope
 "According to polls, voters didn’t realize that the country was in a recession." [in 2000]

Hmmm...  That's not a true statement.  We weren't in recession until March - November of 2001.  Thanks to President Bush we pulled out of recession very very quickly.  Since 911 happened in the 3rd qtr this is enough of a miracle to saint the man.

11 posted on 04/01/2008 9:29:56 PM PDT by HawaiianGecko
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To: HawaiianGecko

It is true. The u.s. had entered a recession which started in the 4th quarter of 2000. It ended in the 4th quarter of 2001. A normal recession, as they usually last for 9 months. If we are in a recession, we will not have confirmation of it till the 4th quarter of this year.


14 posted on 04/01/2008 9:39:03 PM PDT by spyone
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To: HawaiianGecko; garyhope
That definition of "recession" is recently invented one to fit a leftist political need.

Yet, as any economist knows, a recession is two consecutive quarters of negative growth

And I take issue with Lott's assertion of a 2000 recession


16 posted on 04/01/2008 9:47:28 PM PDT by TeleStraightShooter (Will the AmericanHating Rev Wright be Barack Hussein Obama's ambassador to Iran?)
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To: HawaiianGecko

The NBER “calls” recessions. They are not necessarily unbiased. They are people from mostly “fancy” Eastern schools.

In 2000-2001 according to the BEA:

http://www.bea.gov/national/xls/gdpchg.xls

there were 3 quarters during which real GDP fell. They were 2000:Q3, 2001:Q1 and 2001:Q3. Notice no two were consecutive. If based on this data one were to call a recession, it is a matter of opinion whether it began in 2000:Q3 or 2001:Q1. The quarterly growth rates from 2000:Q2 to 2002:Q2 consectutively were, 6.4, -0.5, 2.1, -0.5, 1.2, -1.4, 1.6, 2.7. To argue that the first quarter with negative growth was not in that recession is a bit strange, wouldn’t you say?

And Lott’s point is pretty well taken, as yet we have not had a quarter of negative growth during this election cycle. Maybe we will this quarter, maybe not. But there has been a lot of recession talk to not yet have a quarter of negative growth. And he compares that to the lack of recession talk during a quarter of negative growth headiing up to the 2000 election.


22 posted on 04/01/2008 10:01:22 PM PDT by JLS
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To: HawaiianGecko
Thanks to President Bush we pulled out of recession very very quickly. Since 911 happened in the 3rd qtr this is enough of a miracle to saint the man.

I was under the impression that sainthood required three miracles. But I could be mistaken; I'm not Catholic.

56 posted on 04/02/2008 10:51:04 AM PDT by Vroomfondel
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