I don't think they said that. What I got from it was the recession that started in March of 2001 was over in November of 2001. Doesn't mean there isn't/wasn't another recession on the heels of THAT one. They just won't call it one until next year sometime, more than likely!
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: 2003-07-17 03:25 pm (UTC)no subject
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)