The committee determined, however, that the fact that the broadest, most comprehensive measure of economic activity is well above its pre-recession levels implied that any subsequent downturn in the economy would be a separate recession.
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This has a certain ring to it, a contemporary echo of the hair splitting and circular arguments we're told Medieval scholars passed chilly afternoons with.
I suppose that technically, it's all on the up and up (I'm not qualified in the economic theory or maths to parse the assertion). If so, what a wonderful illustration of the severely limited usefulness of closed loops of inquiry.
DRM
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