News
just in from the National Bureau of Economic Research that the economy entered a recession in December of 2007. I repeat--just how useful a term is "recession" if we have to wait until a year's worth of data (well, really only two quarters) is accumulated and analyzed before it can be declared? Are there not a series of in-stream measurements that can be looked at together that correlate with a contracting economy? Or do we simply prefer as a society to talk about whether or not we're in recession while the economists gather the data?
i also love how the analysts declared the reason for the drop in the various stock markets was due to this "news" being released. seriously? ae that many people who make a living out of managing large investment portfolios really just now figuring out that the u.s. is still in recession? i also heard the the fed chairman may have developed a slight cough and raspy throat...i suspect that will be cause for a market adjustment as well.
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