Rejoice! The Recession is Over!
According to the National Bureau of Economic Research (who? yeah, that was my reaction), the recession ended in June of 2009! All this time we've been labouring under the false impression that the horrible economic conditions we're experiencing, including 9.6% official unemployment (unofficial may be upwards of 20%), dismal housing prices, inflation (it's there, as any trip to the grocery store will tell you), and general economic malaise were part of the recession. According to the NBER, (cool acronym, though if they'd gotten an "UM" in there somehow they could be "NUMBER"), all this economic misery is all part of the RECOVERY!For some reason, this story reminded me of the kid at the end of "Matrix Revolutions" who runs from cave to cave screaming "He did it! He saved us! Neo saved us!" I'll give you one guess who NBER is setting up to be Neo in this instance. If you need a hint, just look to the White House for its main occupant. I don't know much about the NBER, but now the administration will have "proof" that the recession is over, and that it "successfully steered us through the longest post-war recession ever".