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Talk:Financial Crisis of 2008 (view source)
Revision as of 10:27, December 23, 2008
, 10:27, December 23, 2008→definition of recession
==definition of recession==
==definition of recession==
The NBER is the nonpartisan agency that declares the timing of business cycles--and it has been for 80 years. They use multiple criteria, which gives much more precision (not the simplistic one of two quarters' decline). Note that the START of a recession is actually a high point, from which the economy begins a downward trend. That happened 12 months ago. For more details see [http://www.usatoday.com/money/economy/2008-12-01-recession-nber-statement_N.htm NBER statement] [[User:RJJensen|RJJensen]] 05:00, 23 December 2008 (EST)
The NBER is the nonpartisan agency that declares the timing of business cycles--and it has been for 80 years. They use multiple criteria, which gives much more precision (not the simplistic one of two quarters' decline). Note that the START of a recession is actually a high point, from which the economy begins a downward trend. That happened 12 months ago. For more details see [http://www.usatoday.com/money/economy/2008-12-01-recession-nber-statement_N.htm NBER statement] [[User:RJJensen|RJJensen]] 05:00, 23 December 2008 (EST)
:Recessions are not usually considered to be movements between high and low points, but actual negative growth. If this is the official recognized agency for calling recessions, then I want hard evidence of that before this current downturn. It is odd that it hasn't been mentioned that the standard of two straight cycles of negative economic growth was actually discarded long ago -- but somehow wasn't noticed. And seeing their declaration that the last downturn began in March 2001 was laughable if they weren't serious. The GDP went on a far steeper nosedive as far as rate of crashing at the end of Clinton's term including losses of almost 15 trillion dollars in value in the stock market as the internet bubble burst and Gore tried to take the election, and yet that didn't classify as the beginning of a downturn based upon their standards? Please.
:I've given you a great deal of latitude due to the many edits you have made on this site and I believe that should be rewarded by allowing you to have a pretty free reign in how to set up the article and put in content. In my book you've earned that. But it doesn't appear you have fit any of the information that I have given you in the talk pages into the article. If it is going to start to read like a blog, then I am going to get more directly involved. And simply reverting me, including editing that went beyond what is being discussed here, is not a direction you should follow. [[User:Learn together|Learn together]] 05:27, 23 December 2008 (EST)