Has it been a year??

 I’m confused and I’m not sure if it’s only me and everyone else gets it. The headline on my paper said “Recession already year old” according to the National Bureau of Economic Research. I know my memory isn’t as good as it used to be but I don’t remember anyone stating that last December.  I Googled “are we in a recession”…here are a few excerpts.

Some economists define a recession as two consecutive quarters of economic contraction, or a decline in real gross domestic product (GDP). By that measure, the U.S. wasn’t off to a bad start this year. Waiting for the data tends to take some time. As a result, most recessions have not been declared by National Bureau of Economic Research until at least five months after they’ve ended. Newsweek Oct 16th.

Many of our readers have been wondering why we don’t just come out and say the U.S. is already in a recession. Others take issue with our “negative” focus on the economic data that are now flashing warning signs — arguing that these stories just spook consumers and make matters worse. – March 26th MSNBC

There isn’t any recession. The latest figures show that we clearly were not in one as of midsummer, whether you use the rule-of-thumb definition – two consecutive quarters of GDP shrinkage – or the looser concept of a sustained and significant economic decline.- Fortune Magazine – Sept 17th

If payroll jobs decline for a fifth straight month in May, it will be hard to deny that the economy is in a modern recession, a period of malaise and protracted angst–lethargic growth interrupted by periods of contraction–of difficult-to-predict duration.- Forbes June 4th

 Can someone enlighten me? Why did that Chicago song just pop in my mind…Does anybody really know what time it is?


One Response

  1. Yes this recession is different. First you see people shouting in glee that yes we are in a recession. Then consider the political infighting that we see daily. This infighting causes all parties to give money to whomever in hopes of getting votes during the next election cycle.

    Our leaders are not putting our nation’s best interest first. They are selfish imbeciles that need to grow up a play with each other’s toys.

    Yes it is true that we see a recession about every three years, and when we do they usually last about 8.5 months. This time politics will bring to the table spending and their denial of the situation won’t get us out of this mess.


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