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Wednesday, April 30, 2008

No recession- where is the MSM?

by George Dienhart

Just found this at the Politico website:

economy limped through the first quarter of this year at a six-tenths of
a percentage point growth rate as housing and credit problems forced
people and businesses alike to hunker down. The country's economic
growth during January through March was the same as in the final three
months of last year, the Commerce Department reported Wednesday - but
not the kind of statistic that economists define as a recession.
Although the economy is stuck in a rut, it is still managing to keep
growing - however slightly.'

Therefore, this settles it- no recession now. We will not know if there
is even a recession until after the election. The definition of

A recession is a decline in a country's real gross domestic product
(GDP), or negative real economic growth, for two or more successive
quarters of a year.

Notice today's report is for the first quarter. We will not get two more
quarters of growth until after the elections.

The real story here is that the economy continued to grow- even with the
decline of the housing and credit markets.

That is good news; we will see how the left spins it.