Thanks NBER for officially saying what was most apparent to everyone months and months ago: The United States is in a recession.
I wonder if the timing of this release was politically motivated, until after a certain election perhaps?
President Bush issued an apology.
"What the American people have got to know is we've taken the steps to unthaw
it, which is the first step to recovery"
Unthaw? Really?
In graduate school we would make fun of the MBA students, since the program was not as "intense" as the economic program. Entire papers have been written on the subject of MBA's and the ruinous effect they have on this county.
Those looking for proof that MBA degrees promote the worst excesses of management practices need look no farther than the insulting and bumbling career of President Bush, our first MBA president. Or, as he may now be called, our recession sandwich president.
Of course, if this was Latvia, all this nay-saying would be illegal, as only optimism is permitted there there.
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