Yesterday the official word came out, we're in recession. The National Bureau of Economic Research came out yesterday and officially proclaimed we've been in a recession since last December. The NBER is the official body that declares these kinds of things. It's kind of like the Seal of Good Housekeeping, only not so much.
Well, now that it's all official and everything, I mostly have just this to say, "D'uh, dudes." Yeah, those of us in the real economy, or working in real government, we already knew this.
So, there's going to be a slew of numbers being thrown at us in the coming days in an effort to soothe your fears and concerns. Two of those are going to be cost of living and rate of inflation. You need to listen carefully to these numbers because for the past eight years the numbers reported have a caveat. They've been "core number" which "exclude the volatile energy and food prices." You know, those things that those of us in the middle and lower ends of the economy spend most of our money on. With the recent drop in fuel prices I'll bet the numbers that you hear won't be the "core numbers" but instead the numbers that include those volatile energy and food (maybe they'll just exclude food this time) prices." This is what's known as "lying through statistic." Just thought I'd give you a preview.
I wonder how the current administration will blame this on the Clintons. Oh yes, see, Nancy Pelosi and her liberal cabal have been in charge of Congress. Thankfully the true patriot conservatives have kept them from getting any business done or else this would have been worse. Yeah, I'm sure that will be the line. Bonus points if you can spot the contradiction in that reasoning.
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