Recession: Only took them a year to admit it.

[tpunx99GSX]

I love it how they come back a year later and say... "yeah we have been in a recession for the past year" FUCKING DUH. http://www.msnbc.msn.com/id/27999557/

[john]

Yea, I think they were/are worried that saying it will make the economy worse. For example a business may not hire that extra worker as they are not sure if sales will continue to grow.

It will be interesting to see what the new campain is going to do about this. I feel we are in a better situation now with Obama than McCain but how much can one person change our economy??? I hope it will get back on track soon but don't expect much to happen until 2010 or so when I believe the housing market to turn around.

[vr-4lif3]

The actual definition of a recession has still not been met. I'll wait for 4Q GDP numbers to come out before I say we are in a recession. Bear markets always come before recessions.

[Goat Blower]

I've already seen it. A company I interviewed with said they would probably be opening a position by December or January. After the election, that position won't be opening until at least next June. Not too surprising.

I think the only way we're going to get out of this soon and not prolong it like in the 30's is to cut taxes across the board and let the market settle. We could be out of this in two years or less that way. If we keep bailing everybody out and increase taxes, we'll be in this for a decade. It's the Jimmy Carter era all over again, the worst is yet to come.

[JustROLLIN]

Its interesting that historically when the actual recession announcement is made, most times we are already on an upswing out of it. Not that its necessarily true today, just a thought.

[hellomynameis]

If you could call it a recession the day it starts, kudos to you. The NBER uses several indicators to judge the start date of a recession. It's not as simple as saying there was a decline in real GDP for one, or even two quarters. A good place to start your research: NBER Recession FAQ