US In Recession Since Dec '07, Says Official Stat Group

Image courtesy of (Molly)

We’ve been in a recession since December 2007, according to a fancypants stat group. WSJ reports, “In a statement, the National Bureau of Economic Research said its Business Cycle Dating Committee determined that the U.S. entered recession in December 2007, marking the end of the economic expansion that began in November 2001.” I don’t think Americans need a committee to tell them the economy has been on the express the train to Suck City for over a year…

All they had to do was listen to Wal-Mart. Wal-Mart knew what was up. They were already getting “positioned for an economic downturn” back in October, 07.

U.S. Entered a Recession A Year Ago, NBER Says [WSJ] (Photo: dooleymtv)

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.