The recession is over, at least according to the official version of history as the National Bureau of Economic Research (a private nonprofit group, despite the name) wants to see it. I think if they declare it just a few more times, that will make it happen. Poof.
I am glad I read this article, though, because otherwise I would not have even known that this is only a post-war recession we’re experiencing! Luckily the experts are here to inform us:
The December 2007-to-June 2009 recession is two months longer than the two previous longest postwar recessions, in 1973-75 and 1981-82. Between 1945 and 2001, there have been 10 recessions that on average lasted 10 months, according to the NBER.
Notice how the article refers to the panel of experts that came to these conclusions, without naming any of the supposed experts. Not that it matters. The overlords have spoken. I’m just here to grovel and thank their boots for the good news.Published in