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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on December 01, 2008, 06:07:51 PM
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The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy .
Stocks got hammered Monday, as investors bailed out following confirmation that the U.S. is mired in a recession and indications that it's likely to continue for some time.
The Dow Jones industrial average (INDU) lost 680 points, its fourth-biggest single-session decline on a point basis ever. The decline was 7.7% in percentage terms - the 12th worst percentage one-day decline ever.
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Yeah... interesting how it's only a recession now that Bush is on the way out.
Kind of odd isn't it?
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Yeah... interesting how it's only a recession now that Bush is on the way out.
Kind of odd isn't it?
I guess they were hoping no one would notice. :-\
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OK... what I don't get is, why does anybody HAVE to make it "official?"
The economy has been in a state of negative growth for some time now. That's certainly not been any secret. Does someone have to officially acknowledge "yes, there IS an elephant in the room." I mean anyone with a brain can see there's a recession going on. So why is the market just now having this knee-jerk reaction (as per usual) to what's been under their collective noses this whole time?