'The business cycle dating committee at the National Bureau of Economic Research concluded Thursday that the U.S. economic recession that began back in March 2001 ended the following November.

"We don't take a stand on what's ahead, but this one is in the record books," said Robert Hall, an economics professor at Stanford University who has chaired the committee for more than 20 years.

The recession was over before we knew it; the committee didn't declare the March 2001 beginning of the recession until Nov. 26, 2001.'

That's true. Remember what constitutes a recession. Question is, why do they wait so long?

The NBER decides by committee instead of using the simple classic 2 quarter decline in GDP. They try and smoothout the bumps. 10 down quarters with two ups in the middle they define for the whole period as a recession. Seems sensible. The NBER is a private oraganization. 12 nobel prize winners on board.

yup, the recession is over.

now get ready for the depression :unsure: :ph34r:

The Coming Great Depression. That book was popular in the 1960s .. err .. I mean the 1970s, wait a minute was it the 1980s? Everyone is always so afraid. It never comes.

The Coming Great Depression. That book was popular in the 1960s .. err .. I mean the 1970s, wait a minute was it the 1980s? Everyone is always so afraid. It never comes.[/b][/quote]
Wow, I hear echoes about a singing fat lady :yowsa:



Last edited by Ironhorse at Jul 20 2003, 02:54 AM

Wow, I hear echoes about a singing fat lady :yowsa:[/b][/quote]
I see Christina Aguilera ;-)