we heard that tidbit on the news last night about the recession being over. it's news to me, i tell ya! i made the comment to keith last night, "wow! except for having less money, higher debt, and continual job cuts and layoffs, the recession is over!!"
really. i'm thrilled. who do they think they are fooling???
Well, a recession is technically two quarters where the GNP drops. Well, given the drastic drop in everything post-9/11, it really had nowhere to go BUT up by november. The circumstances don't fit the normal curve model because the models don't know how to account for a shock like that, just like they didn't know how to account for the shock in the computer-generated mini-crash of '87.
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timeasmymeasure
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Date: 2003-07-18 06:24 am (UTC)we heard that tidbit on the news last night about the recession being over. it's news to me, i tell ya! i made the comment to keith last night, "wow! except for having less money, higher debt, and continual job cuts and layoffs, the recession is over!!"
really. i'm thrilled. who do they think they are fooling???
Re: Hmmm...
Date: 2003-07-18 07:41 am (UTC)