Quote:
Originally Posted by theking
According to what you posted I did not state any bullshit...now did I? The NBER does not use any "specific" methodology sounds like voodoo (bullshit) to me. BTW...have they declared the nation to be in a recession...if so please provide the link?
|
They don't declare a recession until 6-18 months after the fact, but what difference does it make if you think taking many factors into account sounds like 'voodoo' to you?
Regardless of who decides to label a recession (and more than half of economic experts believe we are in a recession) it really doesnt matter. It doesnt take an economic scholar to know this country is in its worse shape since the great depression. More people have lost their houses to foreclosure since the depression, energy prices have skyrocketed out of control, food prices are the highest they've ever been, the dollar is at its weakest point ever, the US deficit is at its highest ever, consumer debt is at its highest level on record, and US wages are dropping. I cannot think of a worse recipe for economic disaster and I believe we have not even come close to seeing the worse.