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Recession evidence now "conclusive"

You gotta be kiddn' right? So the National Bureau of Economic Research is finally ready to declare the recession is "official"...word has it.

incredible as it may seem, we have not officially been in recession to date. but of course I gave it my blessings months ago;)

I guess there is speculation that the bureau did not want to make the announcement in the middle of an election.

"Now to be fair, the NBER has to be responsible. It would have been unwise for these economists to rush to declare a recession as soon as it started to see signs of weakness - that alone could get consumers and businesses scared, creating a self-fulfilling prophecy.

In addition, even though the NBER describes itself as "nonpartisan" and "unbiased," it surely didn't want to drop the R-bomb in the middle of a presidential campaign.

But an announcement could be coming very soon. According to a report on Bloomberg Friday morning, Stanford University economist Robert Hall, who heads the NBER's business cycle dating committee, said that recession evidence was now "conclusive" in his opinion."

Call the economy in recession, already - Nov. 7, 2008