breitbart.com — The U.S. economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday. So, all the denials by Bush and McCain really mean squat; they tried to cover up and ignore the nation's economic peril to further their own political agenda. Now look where it has gotten us.
Dec 1, 2008 View in Crawl 4
Closed AccountDec 1, 2008
The economists are finally catching on to what the people have known for a year or more...To be fair, it wasn't Bush & McCain who were wrong. They were just passing on what the economists told them. The economists were the ones who pretended that they knew what was going on & they said that the economy was doing just fine."Voodoo economics" is redundant. Economics is no more of a science than astrology, reading tea leaves, or divining the future based on the examination of sheep entrails.
Closed AccountDec 2, 2008
You have to love this, economists arguing over definitions. Well, they are both right and both wrong. Just ask each side.This quote is great:"But the NBER's dating committee uses broader and more precise measures, including employment data. In a news release, the group said its cycle dating committee held a telephone conference call on Friday and made the determination on when the recession began. ""more precise" takes them eleven months to figure out?! CCoburn3 says they are finally catching on to what everyone already knows, well it took them awhile and a conference call to come up with this answer. I think that this unknown group, the NEBR, made their research fit the facts and then made a PR announcement in order to get some free publicity.At least the regular method wouldn't take eleven months to figure out what happened.