On 7 Mar 2006 at 15:57, Greg Sevart wrote: > >> The NBER did NOT say that 9/11 deepened the recession. > > > >>From YOUR quote: > > > > "The attacks clearly deepened the contraction" > > > > SHEEZ. > > > > > >> They stated that 9/11 could be why what could have been a minor > >> contraction fell into a recession in the first place. > > > > It wasn't minor. > > > > > > From the first part of the quote: "Before the attacks, it is possible > > that > the decline in the economy would have been too mild to qualify as a > recession." > > I don't think it gets any more clear than that.
As I already explained, that's because they had assumed that GDP in the private-sector went positive in the 4th QTR of 2001, which it did not. > Regardless, I'm calling this my last post on the thread. This has > clearly gone beyond the 3 day OT grace period, and to be honest, I > don't even care that much. BYE. Vince
