Economic Recovery or, Shell Game?
The National Bureau of Economic Research, the ones in charge of official business cycle dating, said Monday that the recession officially ended in June of 2009. Their statement allowed that
although economic conditions may not have been favorable since then and that the economy has not returned to normal operating capacity, the recession ended and a recovery began in June 2009. This is
good press for the incumbent party heading into election season. However, this is also a brightly burning example of why we shouldn’t trust a sound bite.
The bursting of the domestic …