?

Log in

No account? Create an account

The Toybox

people for the conservation of limited amounts of indignation


Previous Entry Share Next Entry
just brace yourself, because it is just that shocking
children of dune - leto 1
seperis
Totally shocking news that you would never, ever have guessed:

Via CNN:

It's official: Recession since Dec. '07, straight from the Department of Obvious Cat Is Obvious and the Secretary of The Sky Is Blue.

There is also a possibility they will make a tentative report on the possibility humans breathe oxygen. Please stay tuned.


  • 1
THIS JUST IN: Sex makes men stupid!

BUT WAIT!! THERE'S MORE!!

THE EARTH REVOLVES AROUND THE SUN! I'M SPEECHLESS!

No!

...

Really?

...

Gosh.

I know! That totally came from nowhere, didn't it?

I love Ric Romero news. It's so... newsy.

Heh. I was just telling a coworker about this. Found it odd that the US can state other countries are in a recession on the first of the following month, but it took us 12 months to admit we're in one ourselves. BBC called it roughly 10 or 11 months ago. :)

*laughs* I am so not surprised.

*snort*

The best thing is of this recession reporting is that these recession definitions still make it look better on paper than the situation for most people. I mean, afaikn here the real income of most didn't grow through the last "upturn" period either, and the working conditions got worse too, all so companies could make profits. Only these fabled "trickle down" effects that supposedly exist according to some capitalist myth frequently fail to materialize, and nothing ever trickles before they manufacture the next downturn during which they of course need to to squeeze even more.

In other breaking news, water is wet. Who knew?

Water, powerful wet stuff that is.

In other news, that darkness that happens every evening? Scientists have now declared it to be called night!

But Lakshman Achuthan, managing director of Economic Cycle Research Institute, said that at this point, the only solution for the recession is time. "All the hand waving and real cash that policymakers are throwing at the problem won't change the fact we're stuck in this nasty recession," he said. "The ultimate cure of a recession is letting it run its course."

Is there any way to tell this clown that an economic downturn isn't some constant, natural cycle, like the revolution of the earth? If he isn't already aware that sometimes an economy can go down and stay down, maybe he should be talking to the Roman Senate. Oh, wait....

*snort* I got the "news alert" from the NYT on that. All I could do was eyeroll. Good grief.

To be fair, NBER does actually have to do some math. And after you get economists doing math, everything is lost until they run out of pens, paper, and coffee.

I understand that there's some force called gravity on the planet, too... I wouldn't pay much attention to this, though, not until Wall Street Journal calls it.

  • 1