There has been silliness of late such as “economic growth” has occurred for x months. That bit of drivel was repeated by the paper formerly known as The Capital Times. Most of these “facts” have more to do with government propaganda that any basis in reality. The rationality is it does not matter how far you have fallen or at what speed, but when it slows or elevates slightly the recession is over. When I here talk like this my first thought is its time for the convenient idiots to put down the crack pipe.
This would be akin to falling down a deep cavern at 50 mph and hitting a tree. The convenient idiots would see this as evidence the fall has stopped. As you continue to fall at a slower pace the convenient idiots would see this as continued evidence of the fall is about over. As you pull your self up ever so slowly climbing out of the cavern, they proclaim you are now out of the cavern.
Sounds crazy! Well, that’s what are convenient idiots are proclaiming now with the current recession. Common sense would argue, at minimum, the place you start counting is where you began descending. Not only should we not call the recession over until all jobs lost have returned, but what counts as economic growth does not include population growth, including immigration. We need to add up all those jobs before we can call ourselves in the black.
No Virginia, the recession is not over. This can be clearly seen from Calculated Risks graph comparing past recessions.