of course we were in a recession last year. Most people dont pay attention until things hit them personally and this yr very few can ignore the obvious.
and anyone who blames Obama is an ass, obviously.
Posted by the young Judith (tyj) at March 12, 2009 08:55 AMI say bullocks to Roubini, most recessions average 18 months, check this out:
From the Comerce Department (hat-tip:TPM)
Sales at U.S. retailers in February fell less than forecast and January's gain was almost double the previous estimate, indicating the biggest part of the economy may be starting to stabilize.
Purchases decreased by 0.1 percent, led by the slump in demand for cars, following a revised 1.8 percent jump in January, the Commerce Department said today in Washington. Excluding automobiles, sales unexpectedly climbed 0.7 percent.
Posted by Goyo at March 12, 2009 10:14 AMRoubini predicted this diaster. I'll trust him (and Krugman) over a blip in retail sales.
Posted by Gay Veteran at March 13, 2009 09:48 AMGay Vet: I respect the thoughts of Dr Doom, but it will be China that will lead the way from the economic morass. I guess I am tired of academics taking pot shots at the Obama Stimulus plan. Jiabao's comments from today indicate that Obama's hands are tied....personally I watch the tea leaves of Asia rather than sitting back postulating the "opinions" economists...but that's just me.
Posted by Goyo at March 13, 2009 12:06 PM