Friday, November 07, 2008

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.

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