Monday, December 1, 2008

Newsflash, December 2008

Water is wet, and the US has been in a recession for a year.
The economy slipped into recession in December 2007, the nation's business cycle arbiter declared on Monday, and the downturn could be the worst since World War Two.

The National Bureau of Economic Research said its business cycle dating committee members met by conference call on Friday and concluded that the economic expansion that started in November 2001 had ended. The previous period of economic expansion, which ended in 2001, lasted 10 years.
Gosh, really? I might not have noticed... idiots.

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