Wednesday, April 30, 2008

There Ain't No Recession :: Part II

Commerce Department reports that once again the economy grew in the last quarter (1stQTR08)
The past quarter's growth of 0.6% is the same as the last quarter of 2007. Also positive. Therefore, given the textbook definition of "recession" — there is no recession in the USA. Yes, some segments are depressed. But others are doing quite well, thank you. And yes, the "working definition" of recession is still valid: "If your neighbor is unemployed, it is a recession. If you are unemployed, it is a depression." So, would someone pass along the good news to Warren Buffet and the host of the NBC Nightly News. Oh, sorry. Guess the "news" that the economy is doing okay does not fit everyone's agenda. -ski ---- Jeff 'SKI' Kinsey, Jonah Phone: (330) 432-3533 tag: ©2008 LLC. All rights reserved.
blog comments powered by Disqus