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2008-12-01 Home Front Economy

It's official: U.S. in a recession since December 2007

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Posted by tipper 2008-12-01 13:05|| || Front Page|| [11130 views ] Top

#1 "U.S. in a recession since December 2007"

Only if you change the definition of "recession" from economic contraction to slower growth. People are so spoiled that flat to slow growth is now considered "recession".

Posted by crosspatch 2008-12-01 13:15|| 2008-12-01 13:15|| Front Page Top

#2 "The last two recessions (1990-1991 and 2001)"

And it turned out that there was no 1990-19991 recession and there certainly wasn't one in 2001. So the tech bubble is now a "recession"?

And I take issue with this statement:

"Many people erroneously believe that a recession is defined by two consecutive quarters of economic activity declining. That has yet to take place during this recession."

Two consecutive quarters of economic decline IS the definition of recession. Look at it this way. Can you say the tide is going out without the water level actually dropping? And how do you tell that the level is dropping? Two consecutive measurements with the level lower than the previous measure would be your indication.

You can not have a "recession" without the economy actually receding. If the economy doesn't recede, then it isn't a recession. They are attempting to finagle a way to call it a recession while the economy still shows growth.

So it becomes two consecutive quarters of failing to meet expectations becomes a recession.

Idiots.

Posted by crosspatch 2008-12-01 13:20|| 2008-12-01 13:20|| Front Page Top

#3 Idiots.

Homer is an idiot. Homer usually doesn't have an agenda. These individuals are working to change the 'dialogue' to fit their meme. Intent is what generally separates idiots from malefactors.

Posted by Procopius2k 2008-12-01 13:36|| 2008-12-01 13:36|| Front Page Top

#4 Recession

Posted by tipper 2008-12-01 13:48|| 2008-12-01 13:48|| Front Page Top

#5 Tipper, that page on Wikipedia just regurgitates the NPER crap. I suppose the "truth" is whatever validates what people wish to be true.

So the next question would then be ... what is the absolute definition of "significant". What they have done is muddied the water by going from an absolute definition (two consecutive quarters of contraction) to a subjective definition.

Orwell would be proud.

Posted by crosspatch 2008-12-01 14:45|| 2008-12-01 14:45|| Front Page Top

#6 They are padding the data so it looks like the "recession" hit during Bush's term and The ONE fixed it within a year of his coming to office.

That is, if his runaway spending and crushing taxes doesn't push this economy into a depression.

Posted by DarthVader 2008-12-01 15:03|| 2008-12-01 15:03|| Front Page Top

#7 FOXNEWS AM > CAVUTO Show Guests > MALE PERT [Govt]claims 'tis the WORSE RECESSION SINCE 1973-1974 [read, Vietnam + Nixonism + Quagmire]; VERSUS FEMME PERT [WSJ] whom claims US IS AT WORSE HEADING TOWARDS AN ECON "KATRINA/NAW ORRLEENS" TEMPORARY DOWNTURN [read, LEVEE/DIKE-/NUMBERS-GATE, Govt Planning], NOT ANY PER SE DEPRESSION OR STAGFLATION???

Posted by JosephMendiola 2008-12-01 19:32|| 2008-12-01 19:32|| Front Page Top

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