Recession over?

[cjppjc]

When will this horrible recession be over? According to one surprising source, it's over right now.
The source is Robert J. Gordon, an acclaimed macroeconomist and professor at Northwestern University. It's surprising to learn he thinks the recession is over, because he is one of seven members of the elite Business Cycle Dating Committee of the National Bureau of Economic Analysis. These are the people who decide officially, for the record books, when recessions begin and end -- usually many months after the fact, when the decision is really obvious. I'm unaware of any previous case in which a member of this committee has stepped forward and declared the end of a recession in real time.



http://articles.moneycentral.msn.com...mist-says.aspx


Wow that was close. Everybody can go home now.

[rabot10]

Re: Recession over?

When will this horrible recession be over? According to one surprising source, it's over right now.
The source is Robert J. Gordon, an acclaimed macroeconomist and professor at Northwestern University. It's surprising to learn he thinks the recession is over, because he is one of seven members of the elite Business Cycle Dating Committee of the National Bureau of Economic Analysis. These are the people who decide officially, for the record books, when recessions begin and end -- usually many months after the fact, when the decision is really obvious. I'm unaware of any previous case in which a member of this committee has stepped forward and declared the end of a recession in real time.



http://articles.moneycentral.msn.com...mist-says.aspx


Wow that was close. Everybody can go home now.

lol thanks I needed that

rick

[cjppjc]

Re: Recession over?

lol thanks I needed that

rick

No problemo.

[Jam]

Re: Recession over?

Gotta love this guy

[...] the only truly profound problem facing the economy has been the banking crisis, and all the evidence is that it has now passed. The government's "stress tests" of the banking system have identified the weak ones, and there is a coherent plan to bolster them.

:rolleyes:

[metalman]

Re: Recession over?

Gotta love this guy
:rolleyes:

our hero...

[jiimbergin]

Re: Recession over?

[...] the only truly profound problem facing the economy has been the banking crisis, and all the evidence is that it has now passed. The government's "stress tests" of the banking system have identified the weak ones, and there is a coherent plan to bolster them.

Gotta love this guy
:rolleyes:

now we know why it takes those 7 a whole year to decide that a recession has started

[cjppjc]

Re: Recession over?

our hero...

Huh? That's a picture of Robert Novack

[goadam1]

Re: Recession over?

I drove back into New York from the weekend at the beach. The road was empty. I've never seen holiday traffic this light. Last summer traffic was light because of high gas. This summer it's because they reposed the boat and the summer house.

[Jay]

Re: Recession over?

I drove back into New York from the weekend at the beach. The road was empty. I've never seen holiday traffic this light. Last summer traffic was light because of high gas. This summer it's because they reposed the boat and the summer house.

We also drove through New York on the way back up north from a weekend wedding in DC, it was dead. Not much traffic at all the whole way. For 95 to be quiet on a holiday weekend is very weird. Was there a sale at a big box store we missed?

[cjppjc]

Re: Recession over?

Anecdotes, Shmanecodes. Who ya gonna believe. Trusted, acclaimed macroeconomists or your lying eyes?:eek:

[dummass]

Re: Recession over?

I have a friend who got a job in the US repossessing cars. Business has never been so good! :eek:

[cjppjc]

Re: Recession over?

I have a friend who got a job in the US repossessing cars. Business has never been so good! :eek:

See. Recession over.

[Digidiver]

Re: Recession over?

Here in Vegas, the casinos are packed this weekend. You would never think there was any problem at all.

[cjppjc]

Re: Recession over?

Here in Vegas, the casinos are packed this weekend. You would never think there was any problem at all.

In all seriousness there has been a lot of money pumped into the markets. You can imagine some of it flowing over to the tables. Anecdotally, talking with a person who does some work in NYC and they said their old customers from Wall Street are back.

[aweber]

Re: Recession over?

Here in Vegas, the casinos are packed this weekend. You would never think there was any problem at all.

Vegas the place where you meet the real world.:eek: