OK, Now They Tell Us

LCT Magazine
Posted on December 1, 2008

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

Related Topics: breaking news

Comments ( 0 )
More Stories
Out of town guests include Billy Placier of Music Express in New York; Scott and Melissa Woodruff of Majestic Limousine in Des Moines, Iowa, and Renee Ferraro with ZBest Worldwide in Baltimore, Md. At right is Perry Barin, operations manager at Music Express in Burbank and a GCLA board director.
Photo

GCLA Brings Out The Most Holiday Attendees So Far

The Greater California Livery Association draws 200+ members and guests to its annual meeting and holiday celebration in Los Angeles on Dec. 5, where it announced 2018 officers and board directors.