Who's kidding whom?
September 21, 2010 - Jim Smith
Bologna! to the National Bureau of Economic Research, which contends the recession ended June 2009.
These ivory-tower number-crunchers should tell it to those who are still feeling the results of the recession, those who have lost their jobs, those who can't find another job, those who haven't had wage increases for several years, those who have seen their health care costs increase but no income to offset those hikes, those who are living on unemployment benefits, those who are relying on food banks to survive and/or those who feel lost and forgotten.
The Cambridge, Mass., economists believe the recession began in December 2007 and lasted 18 months, making it the longest recession since World War II. They believe the economy started growing again in July to September 2009, thus ending the recession.
Any future shrinking of the economy would signal the start of a new recession, or a so-called "double dip" in the economy.
Hopefully the announcement of the end of the recession has a real basis in fact and signals a coming improvement for people suffering from the ill-effects of the recession and is not just a political move to make the president's economy recovery policies look good for the upcoming midterm elections.
My problem is I remember the old adage "all figures can lie and all liars can figure."