It’s Official We Are In A Recession
Monday, December 1st, 2008The National Bureau of Economic Research said today that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy.
The NBER is a private group of leading economists charged with dating the start and end of economic downturns. It typically takes a long time after the start of a recession to declare its start because of the need to look at final readings of various economic measures.
With more jobs lost, personal income declining, housing market crisis, banks failing, and credit markets tightening I have been using the word recession for months. I hope it does not take the NBER another year to realize we are slipping into a depression.
Our economic state is sad. With the holidays ahead and people scared to spend money it is not looking good for our economic future. I hope Obama can really make a change or that “D” word will be used freely. That “D” word is Depression.
Furthermore, I think we should prosecute President Bush for lying to the people about weapons of mass destruction. He destroyed our country for his own personal benefit. How many companies does President Bush have ties to that have profited from his presidency? How much money has he made during his presidency? I can’t seem to find this information. Our country has been run by a lying thief and he should pay. They should take his personal assets to help pay off debt the he has caused. I can imagine he has made plenty from oil companies alone.
Source: CNN
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Sources say Howard Stern and Beth Ostrosky are getting married tomorrow. The event is tonight at Le Cirque. They supposedly have booked the whole restaurant (the first time anyone has ever taken over the entire place) for a sit-down dinner for 180 guests. Mark Consuelos husband of Kelly Ripa is “certified” to supervise their vows.
