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Great news!

The National Bureau of Economic Research (NBER) has announced that the recession is over. In fact, according to this organization, the recession ended in June of 2009.

What a farce!

Our nation is still locked in a terrible economy with little relief, if any, being realized by the billions of dollars that the Obama Administration has expended to bust, I mean boost, business in our nation. The NBER claims that certain of its calculations have shown that the America recession has been over for over a year. It further claims that any new reduction in economic figures will signal a new recession.

How about this for a sign of a new recession?

It was announced today by the federal government that new unemployment claims rose this past week to 465,000. Additionally, the National Association of Home Builders just announced that their Housing Market Index was at its lowest point since March of 2009. This index pertains to single family homes and has to reach 50 on the chart to be considered a good market.

Warren Buffet reviewed this NBER claim, discounted it and stated "the USA is still stuck in a recession". More interesting is what President B. H. Obama said. He is quoted as expressing that the recession "obviously for millions of people who are still out of work, who have seen their home values decline, who are struggling to pay the bills day to day, it is still very real for them".

The idea that the recession "is still very real" is true but is a tremendous understatement when you consider the unemployment picture and the poverty level and the number of foreclosed homes and the huge national debt.


The head of the NBER is a MIT economics professor. If he is an example of what college students are being taught about the American economy then I am certainly glad that all my children already have their college degrees.