It's official: US in Recession since Dec. '07
 

http://money.cnn.com/2008/12/01/news...ion=2008120112

The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy .

Damn, you beat me to it, was just coming here to post that. It really is unbelievable that they are JUST NOW admitting to it.

I have been telling people well over 6 months ago that this was already a fact and that we may very well be heading into another depression.

Anyone want to guess what their responses were?

We are not in a recession... Impossible. And a depression? Please....

People need to wake up.

Absorb and deflect:

In a statement, White House Deputy Press Secretary Tony Fratto said that even though the recession is now official, it is more important to focus on the steps being taken to fix the economy.

"The most important things we can do for the economy right now are to return the financial and credit markets to normal, and to continue to make progress in housing, and that's where we'll continue to focus," he said. "Addressing these areas will do the most right now to return the economy to growth and job creation."

It's sad that the citizens already knew this long ago

I like how they made it breaking news like no one knew about it........ LAST year's news is cause for breaking news I guess. lmao

Yeah, because we sure don't want to focus on the fact that we REALLY dropped the ball on this one. Wonder what things would look like today if we started working on the problem when it started instead of letting it fester into the cankerous wound it became.

Based on the kick off of the holiday shopping season on Friday, I don't think the American people got the memo or give a shit.

Buuuuut... That's also why most Americans are drowning in debt.

didn't want to wipe out McCain's bid on the Whitehouse ...

nice, admitting it a year later. heh.

Last year at this time every conservative republican economist expert was telling everyone America wasn't in recession and the economy was awesome.

https://youtube.com/watch?v=klhS7blpdzQ

While I agree Americans are addicted to credit cards reports supposedly state that Americans are in fact using their debit cards more then credit cards this year.

all i have to say is 'really...doh!'

NIce reading ty

All we need is love.


































...and more money.

Thanks for the good news