12 August 2008
How To Get Them and Are We In A Recession?
Posted by James Breen at 8/12/2008 1:17:00 AM
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It used to be that the measure of a recession was two consecutive quarters of negative GDP, something that we haven't done yet. However, with all the bad financial news (enormous national deficit next year, 1 in 171 homes being foreclosed, record unemployment, stock market woes, financial companies taking massive writedowns, domestic car manufacturers tanking, etc), it's sure feels like a recession despite the official measures telling us otherwise. (As an aside, the two consecutive quarters .. Read the rest of this entry.
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