The “R” Word…

I’ve been watching this on the news for the last several weeks and think we need to clarify the fact that there is a definition to what a recession is and is not. By definition, a recession is 2 consecutive quarters of negative growth in gross domestic product (GDP). This week’s report shows growth for the first quarter at .6%. That’s GROWTH (i.e. GDP increased). If you’re a talking head and go on television talking about the current recession when the last two quarters show economic growth, you look like an idiot. Suck it up and face that fact that the American economy is simply robust enough to endure the “shock” of high oil prices, the collapse of the housing bubble, and increasing prices on commodity and manufactured goods while continuing to grow. Stop looking like an idiot. That is all.

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