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 Recession Is Made Official — and Stocks Take a Dive
I think you should take your rose colored glasses off. The TARP and stimulus packages will prolong the recession and plunge us further down the road to financial ruin. Wait until hyperinflation kicks in.
I pray to make it to inflation...because this would mean we avoided a 1930’s style depression.
Their defintion of what a recession is differs from the OFFICIAL and ACCEPTED definition.
The only thing NBER has in common with anything Conservatives know about is Paul W. McCracken who is also a trustee of American Enterprise Institute or (AEI).
I'm still turning over in my mind whether AEI should be considered Conservative or RINO. After all, they, themselves tout "The Wall Street Journal, the New York Times, and the Washington Post publish more op-eds by AEI scholars than by scholars from all of the other D.C.-based think tanks combined."
Getting your stuff published in the anti-semitic Washington Post doesn't mean all that much anymore, and the NYT? Give me a break.
So, who should we believe, AEI, or this other group, or the NYT, or the Washington Post, or our own eyes ~ the definition of a recession is that you gotta' have two quarters of decline, not just one, and December 2007 doesn't cut it in that calculation.