The National Bureau of Economic Research said Monday 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.
The NBER said that the deterioration in the labor market throughout 2008 was one key reason why it decided to state that the recession began last year.
THE GOOD NEWS: THE RECESSION IS ALREADY A LEAR OLD.
THAT MEANS WE'RE CLOSER TO THE END THAN ANYIONE THINKS!
I'M NOT KIDDING! HERE'S WHY:
- ENERGY IS CHEAP.
- MONEY IS CHEAP AND PLENTIFUL.
- GOVERMENTS WORLDWIDE ARE STIMULATING THEIR ECONOMIES.
- LABOR IS CHEAP.
- COMMODITIES ARE CHEAP.
- HOUSING IS CHEAP.
- IT'S A BUYERS MARKET.
THAT'S ALL THE INGREADIENTS OF A MAJOR UPTURN.
STARTING IN... APRIL OR MAY.
OF COURSE, EMPLOYOMENT/UNEMPLOYMENT ARE LAGGING INDICATORS. THAT WON'T REBOUND UNTIL SEPTEMBER.
BUT WE HAVE TO DO OUR PART: IT'S A BUYER'S MARKET SO WE GOTTA GO OUT THERE AND BUY BUY BUY!
IT'D BE SILLY TO SIT OUT THE BEST BUYER'S MARKET IN DECADES!