From today’s New York Times:
“In a statement released Monday, the members of the [National Bureau of Economic Research’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.”
From The Divagator, August 7, 2007:
“More likely, the recent sell-off of equities is driven by a collection of worrying signs, not one magic bullet. There is evidence that the US economy is grinding to a halt and may already be in recession. Unemployment is nudging upwards; productivity, the linchpin of American growth, is slowing; inflation remains worrisome; corporate investment, often viewed as a proxy for corporate confidence, is decreasing. All of these things, when viewed together, suggest that the sell-off was past due.”
OK, I was off by a few months. So sue me.
1 comment:
In a recession, it isn't always bad. Most people don't realize how much money there is out there. During economic times like this, there is more money to be had than ever. Because of the bailouts and economy, lenders are bending over backwards to bail you out too. Believe it or not, there is people getting tons of cheap money nowdays to start businesses, buy homes, pay off debt, and more. Recession Bailouts for YOU
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