Dec. 1: A CNBC panel discusses new data from the National Bureau of Economic Research saying that the current recession actually began in December, 2007.
CNBC
WASHINGTON - The economy fell into recession late last year, according to a panel of economists that is responsible for determining the dates of business cycles.
Monday's declaration by the panel of the National Bureau of Economic Research confirms what many private economists, lawmakers and members of the general public already have assumed and puts an official date on it: A U.S. recession began in December 2007.
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I'm (sic) not cynical, I just haven't been around long enough to be Jedi mind-tricked by politics as usual. Alas, maybe in a few years I'll be beaten back into the herd. tstew
it generally does take some time to determine when it begins.
I take 2 things from this.
First we have been here before and we will be here again. business cycles always include draw backs. AND when you have a business cycle that has been impacted by bad federal law, you get a nasty mix. and we have been here before..
Second, because we are still in the recession when the "experts" have finally figured out that we are in a recession, means this one has been long and pretty sharp.
oh, and we have been here before.
__________________ If I do something stupid blame the Lortab!
More ammunition for the doom-and-gloom folks among us, I guess.
__________________ http://endtimeobserver.blogspot.com
Daniel 12:3 And those who are wise shall shine like the brightness of the firmament; and those who turn many to righteousness, like the stars for ever.
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I'm (sic) not cynical, I just haven't been around long enough to be Jedi mind-tricked by politics as usual. Alas, maybe in a few years I'll be beaten back into the herd. tstew
Well, it plunged more than that in the past couple months!
Are you being negative?
Why didn't you inform me that it was in positive territory all of last week?
That would have been cheerier.
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I'm (sic) not cynical, I just haven't been around long enough to be Jedi mind-tricked by politics as usual. Alas, maybe in a few years I'll be beaten back into the herd. tstew
So, Sister Ostrich, God will still be in control, but it's nice to be informed, isn't it? And, btw, Obama is gonna fix all of this anyway.
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I'm (sic) not cynical, I just haven't been around long enough to be Jedi mind-tricked by politics as usual. Alas, maybe in a few years I'll be beaten back into the herd. tstew
Hybrid Mode
