Cue Eyeroll.

Breaking news: it’s “official.”  The U.S. is in a recession.

Oh, and it started almost a year ago:

Monday’s declaration by the panel of the National Bureau of Economic Research confirms what many private economists, lawmakers and members of the general public already have assumed and puts an official date on it: A U.S. recession began in December 2007.

That was the same month employment peaked, and the economy began shrikning [sic] in a downturn that has been exacerbated by the financial crisis that took hold of markets beginning in September.

Man, MSNBC was in such a hurry to break this story that they couldn’t even spell “shrinking” right.  If only they could’ve told us something we didn’t already know.

2 thoughts on “Cue Eyeroll.

  1. ladyfresshh December 1, 2008 at 4:48 pm Reply

    yeah they got the gas face for this

  2. Jason December 1, 2008 at 10:29 pm Reply

    According to Keynes, the root cause of an economic downturns is an insufficient aggregate demand. When the total demand for goods and services declines, businesses throughout the economy see their sales fall off. Lower sales induce firms to cut back production and to lay off workers. Rising unemployment and declining profits further depress demand, leading to a feedback loop with a very unhappy ending.

    90% of the time you can make statistics show whatever you want 50% of time

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