John McCain says he thinks we are in a recession?
"While McCain, the presumptive Republican presidential nominee, said he thinks the country is in a recession, he noted that he is more worried about helping people who are facing “enormous challenges,” rather than figuring out what the technical definition of a recession is."
Read The Hill ç here
Well, "technically," that would mean we had two quarters of negative growth, wouldn't it? And I really would like to stick to the definition, because putting the "R" label on what is going on right now doesn't make me feel any better.
I don't think anyone will argue we are going through some very tough times.
Housing, fuel, now food prices.
But what's up?
Has the definition of a recession changed?
You know, like when we had to change the definition of "man" when Jane Goodall discovered chimps were using tools?
In the story I'll link you to next, from the Boston Globe, it's almost comical.
"The United States has already slipped into a deep recession that could be the most serious since World War II."
Well, that's news to me....it must have happened while I was in the shower or something.
I'm not saying it will not happen, or can't happen, but there is a chance we can get out of this mess.
And the comical reference I was making...well, we're in this deep recession, but all through this article references are made to the economy growing slightly in the 4th quarter of 2007 and in January of 2008, and there was an increase in jobs in January, etc.
Recession is here, economist declares ç here
Come on!
Before we declare a recession...let's make sure we are actually in a recession.
Why make it any more painful than it has to be.
I'll tell you what's changed.
The definition of candidate for President of the United States of America....and I'm talking about all of them.
