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Recession evidence now "conclusive"

Discussion in 'Political Discussion' started by PatriotsReign, Nov 7, 2008.

  1. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    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
     
  2. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    To me PR it was pretty obvious 6-8 months ago or longer that we were in a recession. It was just a matter of how long and how deep.imo
     
  3. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Well, I'd have to say your opinion is pretty much fact. It'll be interesting to see when the National Bureau of Economic Research will say the recession started...hey, they may say 6-8 months ago!;)
     
  4. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    Talk about a LAG TIME they're just coming to this conclusion now. :confused: I guess that just were being cautious. :rolleyes:
     
    Last edited: Nov 7, 2008
  5. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    OK Real World....where are you?:D
     
  6. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    some baby boomer already thought of this
     

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