NBER declares recession ended in June 2009 - Sep. 20, 2010
The National Bureau of Economic Research gets Ditched for not using a more relevant definition for economic downturn that incorporates a stronger use of unemployment and poverty levels. Additionally, the NBER gets Ditched for their role in setting up useless "checkpoints" for our economy that instill a false sense of accomplishment and simply take away from the urgency of the matter at hand. This is a financial "Mission Accomplished" sign being touted right before November elections meant to prevent voters from remembering that unemployment is at 9.6% and almost 44 million people in the US are living in poverty. No matter what side of the aisle you fall on or what fiscal policies you adhere to, it is imperative to remember that much work still needs to be done before the country realizes a meaningful recovery.
Unemployemt Reference: http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS14000000
Poverty Reference: http://www.census.gov/hhes/www/poverty/data/incpovhlth/2009/pov09fig04.pdf
No comments:
Post a Comment