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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: one_less who wrote (149408)	12/8/2008 4:24:44 PM
From: Steve Dietrich	1 Recommendation Read Replies (1) \| Respond to of 173976

He also said (148717) it was "the criteria for determining when an economy is in recession," which is false. The NBER is the official arbiter of this stuff and they clearly define their criteria as such: nber.org The NBER does not define a recession in terms of two consecutive quarters of decline in real GDP. Rather, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. For more information, see the latest announcement from the NBER's Business Cycle Dating Committee, dated 12/01/08. SD