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Did the US Wait Until After Black Friday to Declare Recession?

Tue, 12/02/2008 - 1:30pm by CitizenSugar
255 Views - 10 comments

Yesterday the National Bureau of Economic Research, the official recession party starter, announced the recession was well underway and has been since December 2007. Taking a year to make it official may have caused national exasperation, but waiting until the weekend after its Friday meeting may have saved Black Friday. Bless us all!

Sales rose three percent from last year, which while modest is far from the decline feared. Considering Monday's news of the recession sent the Dow into its fourth largest drop ever (fourth? OK, a very big drop), an announcement on Friday surely would have saddened the national shopping spirit. Does such a seemingly deliberate move anger or comfort you?

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10 Comments Add a Comment

  • Roarman's picture
    Roarman
    1

    I didn't need these people to declare it to know that I personally was in a recession.

    5 weeks 21 hours ago Report Comment
  • bluesarahlou's picture
    bluesarahlou
    2

    I loved making those paper chains...And it was pretty obvious we were in a recession.

    5 weeks 21 hours ago Report Comment
  • krae85's picture
    krae85
    4

    lol me thinks they did wait, but everyone knew anyway.

    5 weeks 21 hours ago Report Comment
  • kranky's picture
    kranky
    5

    All things considered, I find it hard to believe that the NBER withheld the information in hopes of preserving the shopping spirit for Black Friday. I would be really incredulous of anyone who thought that Balck Friday would magically fix all that woes our economy.

    From my understanding, sales were up, but profits were down due to the deep discounts being offered anyway.

    5 weeks 21 hours ago Report Comment
  • stephley's picture
    stephley
    6

    People have been denying we're in a recession all year - what's one more day?

    5 weeks 20 hours ago Report Comment
  • bengalspice's picture
    bengalspice
    7

    Is that the Anthropologie store front? They've been getting really creative with decorations lately.

    5 weeks 19 hours ago Report Comment
  • Meike's picture
    Meike
    8

    Reminds me of a time a little more than a year ago that my husband and I were telling a couple of ignorant folks in our community that a recession was occuring and would be more severe in the future. Of course, they decided to debate with us on it. An evil part of me feels like telling them, "I told you so," but that would be cruel considering their house went into foreclosure.

    5 weeks 15 hours ago Report Comment
  • janneth's picture
    janneth
    9

    If by waiting, they could help sales even a little bit, then I think it's good.

    5 weeks 13 hours ago Report Comment
  • janneth's picture
    janneth
    10

    If by waiting, they could help sales even a little bit, then I think it's good.

    5 weeks 13 hours ago Report Comment

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