Yay, Recession!
Hooray, we're in a recession!
The NBER has officially declared us in recession, and says we have been since December 2007. This is good news! Why? Because NBER is notoriously slow to declare recession. Usually, by the time they do, it's over or nearly over.
In this case, I don't think it it's over, but it might indicate a bottom.
Furthermore, check out the sidebar in the story I linked to. In the two worst post WWII recessions (the ones we're closest to now), the total length of the recession is 16 months, max.
If it did indeed start in December 2007, we only have to endure to the spring. (This matches everything else I've read that states the worst will be over by Spring - barring another catastrophe.)
Now, that doesn't mean that all will be awesome come May. I think recovery will be slow. But I do think there might be a light at the end of the tunnel.
The NBER has officially declared us in recession, and says we have been since December 2007. This is good news! Why? Because NBER is notoriously slow to declare recession. Usually, by the time they do, it's over or nearly over.
In this case, I don't think it it's over, but it might indicate a bottom.
Furthermore, check out the sidebar in the story I linked to. In the two worst post WWII recessions (the ones we're closest to now), the total length of the recession is 16 months, max.
If it did indeed start in December 2007, we only have to endure to the spring. (This matches everything else I've read that states the worst will be over by Spring - barring another catastrophe.)
Now, that doesn't mean that all will be awesome come May. I think recovery will be slow. But I do think there might be a light at the end of the tunnel.