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To: Tulvio Durand who wrote (90844)	12/27/2000 10:32:18 PM
From: spred	Read Replies (1) \| Respond to of 152472

>>GNP has been decelerating over several months (six months is technical definition of recession), << I thought it was 2 quarters of negative growth (shrinking economy), not just slowing growth, but still expanding economy. Sam

To: Tulvio Durand who wrote (90844)	12/27/2000 10:36:17 PM
From: Ingenious	Read Replies (2) \| Respond to of 152472

According to the definition below, we are far from a recession. We are slowing down to 2-3% growth and unemployment in the 3-5% range. If anything, this would be a prelude to recession; most countries would call our economy "booming".( Of course, that would make 1996-2000 - "explosive" I suppose.)The ball is in Greenspan's court. RECESSION: The common term used for the contraction phase of the business cycle. A general period of declining economic activity. During a recession, real gross domestic product declines by 10 percent or so and the unemployment rate rises from it's full employment 5 percent level up to the 6 to 10 percent range. Inflation tends to be low or non-existent during a recession. Recession last anywhere from six to eighteen months, with one year being common.

To: Tulvio Durand who wrote (90844)	12/28/2000 8:55:33 PM
From: Jordan Levitt	Respond to of 152472

<<Your arguments are compelling, But are we not already in a recession? GNP has been decelerating over several months (six months is technical definition of recession), NASD is in steep down slope >> Nope. We are not already in a recession. A recession is not the slowing of growth. It is to quarters of negative growth. GDP has to actually shrink ! Though there is some argument as to the psychological effect of slowing from 100 miles an hour to something more sedate !