OK, Now They Tell Us

Posted on December 1, 2008 by LCT Magazine

CLASS, TIME FOR RECESS(ION): A panel of  academic economists now has officially decreed that the U.S. has been in an economic recession since December 2007. Thanks for the breaking news, you academic whipper-snappers. Maybe if they had been hanging out a bit more with Main Street businesses they could have figured things out faster and been more in tune with solutions that actually work.

We've always understood recessions to be two consecutive quarters of negative GDP growth, which very likely will mean the third and fourth quarters of 2008 -- as opposed to the whole year. At this point, being a quarter or two off is no worse than most other economic predictions. Frankly, Americans are fed up with the "expert analytics" of "acadumbic economists." All the MBAs, finance gurus, Wall Streeters, Ivy League "gee-whizzers," Fed pontificators, academic economists, investment economists, government economists, moronic economists, etc. could not effectively evaluate or maintain our entire economic system for the better part of this decade. It's time again for us private-sector taxpayer grown-ups to take control, and of course, bail out the idiots. -- M.R.

Headline we'd like to see: WAL-MART SHOPPERS TRAMPLE WALL STREET CREDIT SWAPPERS

View comments or post a comment on this story. (0 Comments)

More LCT Blog Blog Posts

March 8, 2017

Immigration Issues Can Hit Limo Operators

Illegal or not, immigrants in one California region spend hard-earned money on renting stretch limousines.

March 1, 2017

Did The Dent Fairy Come To Visit You?

Unlike the tooth fairy and baby teeth, the dent fairy never runs out of vehicles.

February 15, 2017

My Unofficial International LCT Show Agenda

The suite parties, charity fundraisers, and off-the-grid get togethers round out a complete global industry trade show.

February 14, 2017

How To Practice Common Sense Customer Service

It's one of the most important and difficult qualities to hire for, since it emerges in unexpected situations on the job.

February 1, 2017

3 Big Fouls From My First Uber Rides

Operators don't have much to worry about if TNC drivers keep acting like this.

See More

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blog

See More

LCT Store

LCT Magazine - May 2017 $12.95 Post International LCT Show Issue COVER STORY: * Best Operators of 2017: Their Winning Secrets Revealed * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close