WASHINGTON — The United States economy officially sank into a recession last December, which means that the downturn is already longer than the average for all recessions since World War II, according to the committee of economists responsible for dating the nation’s business cycles.If it's taken us this long to determine that the recession began in December, how do we know it's still going on?
Also:
But many analysts said they saw no signs yet that the economy was nearing a bottom. American consumers, who for decades have been the country’s tireless source of growth when all else failed, have cut back on their spending more sharply than at any time since the early 1980s.Oh, man. The 80's. If ever there was a lean time of fiscal restraint...
2 comments:
The recession isn't always a bad thing! Most people don't realize how much money there is out there. During economic times like this, there is more money to be had than ever. Because of the bailouts and economy, lenders are bending over backwards to bail you out too. Believe it or not, there is people getting tons of cheap money nowdays to start businesses, buy homes, pay off debt, and more. Profit from Recession
THat's the great thing about economics, you only know how we are right now, years down the line, when all the data becomes available.
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