It's Official: we've been soaking in a Recession

Government officials are loathe to use the "R" word, but this is confirmation of the obvious.

According to Bespoke:

After ten straight months of job losses, the NBER's head of the recession dating committee stated the obvious - the US economy is in a recession.  Looking on the bright side, though, by the time the NBER typically announces that a recession began, it is usually close to or already over.