Monday, April 12, 2010

Sure doesn't feel like the recession is even close to being over.

What Goes Around, Comes Around: NBER Not Ready to Declare 'Recession' Over |
Nonetheless, the establishment media has consistently run with the NBER's definition of when the recession began. After all, they're the experts. Who are we peons to dare to point out that using the normal person definition, the recession began in the third quarter of 2008, continued for four quarters, and ended when GDP went positive in the third quarter of 2009?

In a move that one would expect is causing an excess of expletives inside the White House, NBER officials have indicated that they can't yet conclude that the recession as they define it has ended. A New York Times story carried at CNBC.

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