Really?!

This genius group has a great rearview mirror...they must not have
felt the need to warn/advise anyone a "year ago". Hope they get a
new Magic 8 Ball for xmas...what a bunch of self-serving idiots. Another
snippet I read about this gang, in the WSJ, said they "boasted" of calling
every recession's length with great accuracy. So, tell us when it's going
to end...


December 1, 2008, 12:13 pm
NBER Makes It Official: Recession Started in December 2007

Official recession watchers at the NBER said today that the U.S. is recession, and it began in December 2007. Here is the text of their statement.
The Business Cycle Dating Committee of the National Bureau of Economic Research met by conference call on Friday, November 28. The committee maintains a chronology of the beginning and ending dates (months and quarters) of U.S. recessions. The committee determined that a peak in economic activity occurred in the U.S. economy in December 2007. The peak marks the end of the expansion that began in November 2001 and the beginning of a recession. The expansion lasted 73 months; the previous expansion of the 1990s lasted 120 months.

A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators. A recession begins when the economy reaches a peak of activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion.
http://blogs.wsj.com/economics/2008/...=djemalertNEWS