US is not in a recession

[turkeyneck]

The United States is still not officially in a recession.

That's because a recession is only defined by a group of academics called the National Bureau of Economic Research.

http://money.cnn.com/2008/11/07/markets/thebuzz/index.htm?cnn=yes

 

[Landis82]

Duh.

 

[karol88]

there is a recession in people's minds, enough to cause a recession

 

[hoodooman]

Maybe its past that. What's the definition of depression.

 

[kut2k2]

It's now official, and as most of us already figured out, it's not a youngster.

http://money.cnn.com/2008/12/01/news/economy/recession/?postversion=2008120115

 

[joemiami]

No one(especially the gen public) gives a fuck about the National Bureau of Economic Research. When the public tightens down their wallet, cant get loans, have their work hrs cut and/or laid off completely, and GDP can barely move forward...... those are serious recessionary sypmtoms. PERIOD

 

[clacy]

If a recession takes place in the woods, but no one sees it, was there really a recession?

 

[bond tr4der]

US is not in a recession, per intrade.

A recession is defined as two consecutive quarters of negative GDP growth.

What's the official definition of a depression?

 

[joemiami]

Recession is defined as 2 consecutive periods of neg GDP ?

And who is the ultimate authority on whats the RIGHT definition?

Just bcuz it doesnt fit someone's definition of what a recession is doesnt mean it isnt happening.

people who go by so called "definitions" lack foresight and are incapable and/or stubborn about seeing the bigger picture......

 

[achilles28]

Recession started long before Dec 07.

Inflation was underreported = GDP overreported.