http://en.wikipedia.org/wiki/Early_2000s_recession
The NBER's Business Cycle Dating Committee (BCDC) uses monthly, rather
than quarterly, indicators to determine peaks and troughs in business
activity[1], as can be seen by noting that starting and ending dates
are given by month and year, not quarters. However, controversy over
the precise dates of the recession led to the characterization of the
recession as the "Clinton Recession" by Republicans, if it could be
traced to the final term of President Bill Clinton. A move in the
recession date in a 2004 report by the Council of Economic Advisors to
several months before the one given by the NBER was seen as
politically motivated.[2] BCDC members suggested they would be open to
revisiting the dates of the recession as newer and more definitive
data became available.[3] In early 2004, NBER President Martin
Feldstein said:
"It is clear that the revised data have made our original March
date for the start of the recession much too late. We are still
waiting for additional monthly data before making a final judgment.
Until we have the additional data, we cannot make a decision."[3]
Nonetheless, as of early 2008, no further revision to the dates has been made.
Using the stock market as an unofficial benchmark, a recession would
have begun in March 2000 when the NASDAQ crashed following the
collapse of the Dot-com bubble. The Dow Jones Industrial Average was
relatively unscathed by the NASDAQ's crash until the September 11,
2001 attacks, after which the DJIA suffered its worst one-day point
loss and biggest one-week losses in history up to that point. The
market rebounded, only to crash once more in the final two quarters of
2002. In the final three quarters of 2003, the market finally
rebounded permanently, agreeing with the unemployment statistics that
a recession defined in this way would have lasted from 2001 through
2003.
On Fri, Jan 9, 2009 at 4:16 PM, Vivec <[email protected]> wrote:
> This statement is patently false:
> "Bush inherited a recession"
>
> He did not.
>
> Please provide evidence, outside of the Bush camp, which shows that he
> inherited a recession.
>
> http://mediamatters.org/items/200405010002
>
> "In March 2001, the U.S. economy went into recession for the first time in
> ten years, according to the National Bureau of Economic
> Research<http://mediamatters.org/rd?http://www.nber.com/cycles/november2001/>(NBER.)
> NBER -- the private, nonpartisan organization whose business cycle
> announcements have long been considered the definitive word on the topic --
> announced its determination on November 26, 2001:"
>
>
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~|
Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to
date
Get the Free Trial
http://ad.doubleclick.net/clk;207172674;29440083;f
Archive:
http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:284427
Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm
Unsubscribe:
http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
