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Monday, December 01, 2008

Recession is Redefined for Partisan Political Purposes

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The “Business Cycle Dating Committee” has changed the definition of recession, for partisan political purposes.  Unlike the real definition of recession, which is two or more consecutive quarters of negative growth, this committee has chosen its own definition:
A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators. A recession begins when the economy reaches a peak of activity and ends when the economy reaches its trough.


Since the combined forces of the Dems, the MSM and the terrorists have not yet been able to create a real recession, the lefties simply do as they always do; create their own self-serving definition.

If it does turn out that the second half of 2008 turns out to have been a slight recession, it is due to the relentless attacks and hyperbole of the Dems and their Ministry of Propaganda, the MSM.  If it continues into something worse, it will be due to the Dem social engineering financial boondoggle, the bailout BS, and the looming threat of Obamunism.