It's not surprising that we're in a recession, but this is...
It's official. The National Bureau of Economic Research has finally declared that the United States is in a recession. This obviously is not very surprising. What is surprising, to me at least, is how long we have been in a recession. They decided that it officially started in December 2007.
This means that the current recession, which is still going strong, is already the third-longest since the Great Depression, following only the 16-month recessions in the mid-70s and early 80s. Chances are before we're all said and done, we will have passed those two fairly easily.
U.S. entered recession December 2007, panel says