On Monday the National Bureau of Economic Research released a statement saying that the US economy has officially been in a recession since December of 2007. The NBER is an organization of academic economists who study business cycles. To no surprise the stock market has begun heading for the basement. Well, it was already in the basement so I guess they've gotten out the shovels and jackhammers to find lower ground to wallow in.
I'm so glad that somebody got up and told me the economy was in a recession because I don't think we the people had any idea. Oh wait, that's right . . . we were the ones loosing our jobs and homes. But, don't worry, I have formed my own panel of experts to draft a response to the "experts" on Wall St. and at NBER. The Chairman of my committee has release the statement below in reply:
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