Friday, October 2, 2009

Recession Over? Not by any Definition, Technically....

October 12 update: despite idiotic media reports to the contrary, nothing has changed to alter the realty of the data released less than two weeks ago....
A recession is defined simply as a period when GDP falls (negative real economic growth) for at least two quarters. Some economists prefer a definition of a 1.5% rise in unemployment within 12 months.

Keep this in mind and apply it to any media or government claims that the recession is easing or over.

U.S. GDP by quarter at a glance.

October 2, 2009: U.S. unemployment at 9.8 percent, adjusted to a real 17 percent.

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