Recession:
Two consecutive quarters of decline in real GDP is commonly taken to be a recession. The National Bureau of Economic Research, a private organization, effectively decides when recessions occur, however, and the actual dating process is determined by judgment rather than a formal rule.
Current US figures the week of 11/02/2007
GDP 2nd (07) = +3.8%
GDP 3rd (07) = +3.9%
Interest rates -.25% = 4.5%
+166,000 jobs added
Matt Lauer went to Ohio University but not in the school of business and obviously never studied/audited/sat on economics 101.
Rush needs to return to referring to him as Matt Wower (pronoucing his name like Brokaw would.)
Hey, I don’t where things are going with a weakening dollar and +$90 oil. With the lending problems and real estate decline I expect that next year will not be a good one for the economy and the democrats will use that to their advantage for the mostly stupid middle of the road voters.