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Game Over

September 20, 2010

Courtesy of Global Nerdy

Hooray! We all must rejoice because the Great Recession has come to end. Who says so? The National Bureau of Economic Research (NBER), that’s who!

According to the NBER, the recession that has been plaguing us ended in June 2009. This news is going to be so very comforting to all the people who are still unemployed and can’t find jobs. We can’t forget about everyone living in poverty. They have to be happy again because now that this recession has ended, things will get better right? Not so fast.

There are some doubters. I don’t know why though. It’s not as if “unemployment [is] high, job creation [is] low, the housing market [is] on life support and other day-to-day economic realities [are] still bad.”

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2 Comments leave one →
  1. Ollie permalink
    September 21, 2010 5:58 am

    Wait a minute. If Bill Gates, Warren Buffet, Oprah, and a few others all write each other a check for a billion dollars (effectively just trading the money) does this count as economic activity? Question: Can the decision to be in or out of a recession be based solely on averages?
    If 90 out of 100 are still unemployed, but the 10 rampantly increase their activity with one another is the whole of society better off?

    Oh, maybe we need to just stop criticizing, be patient and wait for the TRICKLE DOWN!
    The trickle down will save us all when it gets here right?

    • Trung permalink
      September 22, 2010 9:51 pm

      you raise some good points. i am very skeptical about the nber’s results. how can we be out of a recession when the unemployment rate and poverty rate have both increased?

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