I could have told them that Over a year ago but they didn't ask Me. They should ask us little folks in the future.
The U.S. is in a Recession
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It's official: the United States has been in a recession for a year now, the National Bureau of Economic Research confirmed today.
From NY Times... The committee noted that the contraction in the labor market began in the first month of 2008 and said that the declines in most major indicators, like personal income, manufacturing activity, retail sales, and industrial production, "met the standard for a recession." The announcement came as the stock market fell sharply, its first decline in five sessions. The Dow Jones industrial average was off more than 450 points or 5.1 percent by afternoon trading. The Standard & Poor's 500-stock index fell 6.1 percent. This is the first official recession since 2001, when the economy suffered after the bursting of the technology bubble. The period of expansion lasted 73 months, from November 2001 to December 2007. As you all know, the government has already issued a number of bailouts to help bolster the economy. What else can the government or corporations do? What responsibility should the average citizen have? Let us know in your comments below. Posted by Natasha G on 12/01/08 |
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Wednesday December 3, 2008, 7:21 AM