Recession: NBER Makes It Official
So the National Bureau of Economic Research has declared a recession, starting in December of 2007. This is highly unusual. Since WWII, the NBER had never called a dowturn that included back-to-back quarters of postive GDP growth. Until now. The economy expanded at a 0.87 percent pace in the first quarter and 2.83 percent in the second quarter. Weird.
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Hmmm. For some reason, someone deleted my very brief comment I posted here yesterday, even though it was neither spam nor contained any profanity. No one likes to be wrong, or embarrassed, but at least you can be an adult about it -- having told your audience that there'd be no recession, that we weren't in a recession and that it was all in our imagination, at least own up and admit you were wrong.
So I'll repost my comment here, and if it is deleted again, my next step will be to notify your superiors at US News.
Dude, where's your credibility? A series...
http://www.usnews.com/blogs/capital-commerce/2008/4/30/dude-wheres-my-recession.html
http://www.usnews.com/blogs/capital-commerce/2008/6/6/dude-wheres-my-recession-the-series.html
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