If you are in touch, you are supposed to ignore the 0.6-percent GDP growth in the fourth-quarter of 2007 and 1 percent growth in the first-quarter of 2008, because that belies the belief that the U.S. economy is in recession.
I thought a recession is defined by two or more consecutive quarters of Negaitve growth???
This, plus figures on unemployment decreases out today, are what inspired Phil Gramms comments.
Lots of economic experts are puzzled and frustrated by the malise of consumers in polling data.
I’m starting to think that polls are what is messed up. Too many unemployed, unhappy people answering the phone. Happy folks use caller ID. ;->