08-12-2009, 09:53 AM
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$ Saving Sixth Grader
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Join Date: Jul 2009
Location: NY
Posts: 69
Points: 410.00
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Quote:
Originally Posted by EEinNJ
Economists define a recession by several consecutive quarters of negative growth. The data is backward looking, so they tell us when we're in a recession long after we've empirically figure that out. Likewise, we'll know it's over when people start getting hired, not fired, are able to buy a house instead of having it foreclosed, etc. And the economists will tell us 3 months later. For now, it's just wishful thinking.
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100% agree  |