Recession redux?
By Dr. Irwin Kellner
NEW YORK (CBS.MW) -- Here's a splash of cold water: The National Bureau of Economic Research, the widely acknowledged umpire of the business cycle, has just said that the U.S. may still be in the recession that began nearly two years ago.
Either that, or we may have double-dipped into a new recession. ...
If the NBER thinks the weakness starting late last year was a continuation of the recession that it previously determined began in March 2001, that would make the current downturn at least 21 months old -- the longest contraction in 70 years. ...
Carl
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