Recession? What recession?

November 26, 2001 7:08 AM

Recession? What recession? "An economic research group declared Monday that the United States has been in a recession since March of this year." It's official.
posted by shoepal (7 comments total)

As it requires two quarters of negative growth to report that the economy is in recession, the announcement by its own nature has to be six months out of date. Consequently, I'm not really sure what point you're trying to make with the wording of your post.
posted by ljromanoff at 7:42 AM on November 26, 2001

I knew we were in a recession since early this past summer, and I'm not even an economist. I can't even keep my checkbook balanced. I find it amusing that almost a year after it actually happened, "official" people are finally admitting it. Yet another example why "official" people suck raw eggs through a crazy straw.
posted by ZachsMind at 7:57 AM on November 26, 2001

I suppose I was poking fun at the fact that there is an "official" declaration from an appointed group (of profs). It's all speculation until these cats say "yes, the economy has been in recession." That is prestige!
posted by shoepal at 8:01 AM on November 26, 2001

Direct link.
posted by rory at 8:43 AM on November 26, 2001

Duh. No shit. I don't need to be a member of an economic think tank to figure that one out.
posted by aacheson at 8:55 AM on November 26, 2001

Yeah. As if my wallet weren't enough evidence of it already.
posted by betobeto at 9:06 AM on November 26, 2001

OK, to satisfy Zach, we'll reform the department into the Bureau of Economic Guesswork. A select group of highly trained economists will be flown to Washington and asked to examine their wallets.

This will result in immediate recession determination, thus allowing ... uh .... earlier recession determination. Oh yeah.
posted by dhartung at 6:39 PM on November 26, 2001