It’s Official: Recession Started Last December

[jk]

It’s Official: Recession Started One Year Ago

By MICHAEL M. GRYNBAUM and DAVID JOLLY
Published: December 1, 2008
It’s official: for the last year, the United States economy has been in recession.


The evidence of a downturn has been widespread for months: slower production, stagnant wages and hundreds of thousands of lost jobs. But the nonpartisan National Bureau of Economic Research, charged with making the call for the history books, waited until now to weigh in.


In a statement released Monday, the members of the group’s Business Cycle Dating Committee — made up of seven prominent economists, most from the academic sector — said that the economy entered a recession in December 2007. [emphasis added, good call, ej.]
http://www.nytimes.com/2008/12/02/bu...s.html?_r=1&hp

[Jim Nickerson]

Re: It’s Official: Recession Started Last December

It’s Official: Recession Started One Year Ago

By MICHAEL M. GRYNBAUM and DAVID JOLLY
Published: December 1, 2008
It’s official: for the last year, the United States economy has been in recession.


The evidence of a downturn has been widespread for months: slower production, stagnant wages and hundreds of thousands of lost jobs. But the nonpartisan National Bureau of Economic Research, charged with making the call for the history books, waited until now to weigh in.


In a statement released Monday, the members of the group’s Business Cycle Dating Committee — made up of seven prominent economists, most from the academic sector — said that the economy entered a recession in December 2007. [emphasis added, good call, ej.]
http://www.nytimes.com/2008/12/02/bu...s.html?_r=1&hp

IIRC that was when that dude over at iTulip, Janzen, said it began. The guy has his finger on the pulse of the world. All we need now is for metalman to confirm the exact post.

[lomaxzoltor]

Re: It’s Official: Recession Started Last December

I believe this was the post where he declared it: http://www.itulip.com/forums/showthread.php?t=2739. Time for Fred to updated "ITulip's Record".

[ASH]

Re: It’s Official: Recession Started Last December

IIRC that was when that dude over at iTulip, Janzen, said it began. The guy has his finger on the pulse of the world. All we need now is for metalman to confirm the exact post.

The more often EJ is right, the more tempted I am to quit thinking for myself. True, I was thinking for myself when I weighed EJ's arguments and concluded that he was credible, but this is becoming distressing. Soon, out of laziness, I'll be reduced to accepting EJ's calls on the economy uncritically... and then WHAM!

[DemonD]

Re: It’s Official: Recession Started Last December

NBER: Telling people their house is on fire, after it had burned to the ground, for more than 85 years.

[FRED]

Re: It’s Official: Recession Started Last December

The more often EJ is right, the more tempted I am to quit thinking for myself. True, I was thinking for myself when I weighed EJ's arguments and concluded that he was credible, but this is becoming distressing. Soon, out of laziness, I'll be reduced to accepting EJ's calls on the economy uncritically... and then WHAM!

God help us, no! It only all works by intelligent criticism. Beat us into shape! But kindly!