The Depression is Over!? (September 20, 2010)

. . .

E     “The Depression is over.  So they say.  In fact, it was only a recession and has been over since June 2009.  So says the National Bureau of Economic Research, the NBER.”

U     “How does that work?  Can I get a job, go back to work and collect a paycheck retroactive to June, 2009?  That is my benchmark.”

E     “Call them.  The NBER is generally respected as institutions go.  They pegged it as just a recession that was over in June 2009.”

U     “Praise the Lord and pass the paycheck.”

E     “A well-informed citizen should understand the NBER economic model; I don’t.  There may not be enough time even late on Saturday night to analyze the economic model.  However, I follow every fundamental economic factor.  The economic fundamentals are worse than they were two years ago.  The NBER conclusion seems wrong.”

U     “I don’t understand the economic model, but I know the conclusion is wrong.”

. . .

Bumper stickers of the week:

Recessions are so overrated.

2 + 2 = 5

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