Yesterday the National Bureau of Economic Research, the official recession party starter, announced the recession was well underway and has been since December 2007. Taking a year to make it official may have caused national exasperation, but waiting until the weekend after its Friday meeting may have saved Black Friday. Bless us all!
Sales rose three percent from last year, which while modest is far from the decline feared. Considering Monday's news of the recession sent the Dow into its fourth largest drop ever (fourth? OK, a very big drop), an announcement on Friday surely would have saddened the national shopping spirit. Does such a seemingly deliberate move anger or comfort you?