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Did the US Wait Until After Black Friday to Declare Recession?

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?


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janneth janneth 8 years
If by waiting, they could help sales even a little bit, then I think it's good.
Meike Meike 8 years
Reminds me of a time a little more than a year ago that my husband and I were telling a couple of ignorant folks in our community that a recession was occuring and would be more severe in the future. Of course, they decided to debate with us on it. An evil part of me feels like telling them, "I told you so," but that would be cruel considering their house went into foreclosure.
bengalspice bengalspice 8 years
Is that the Anthropologie store front? They've been getting really creative with decorations lately.
stephley stephley 8 years
People have been denying we're in a recession all year - what's one more day?
kranky kranky 8 years
All things considered, I find it hard to believe that the NBER withheld the information in hopes of preserving the shopping spirit for Black Friday. I would be really incredulous of anyone who thought that Balck Friday would magically fix all that woes our economy. From my understanding, sales were up, but profits were down due to the deep discounts being offered anyway.
krae85 krae85 8 years
lol me thinks they did wait, but everyone knew anyway.
Roarman Roarman 8 years
And those pretty paper snowflakes were fun too.
bluesarahlou bluesarahlou 8 years
I loved making those paper chains...And it was pretty obvious we were in a recession.
Roarman Roarman 8 years
I didn't need these people to declare it to know that I personally was in a recession.
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