Monday, December 1, 2008

And here I am without a gift

According to the people with their finger on the Big R Button, not only are we in a recession, we have been for a year now.
The evidence of a downturn has been widespread for months: slower production, stagnant wages and hundreds of thousands of lost jobs. But the nonpartisan National Bureau of Economic Research, charged with making the call for the history books, waited until now to weigh in.

In a statement released Monday, the members of the group’s Business Cycle Dating Committee — made up of seven prominent economists, most from the academic sector — said that the economy entered a recession in December 2007.
Happy Anniversary, Crippling Recession!

No comments: