The Recession is Over ... But ....

Economy loses speed in spring; more weakness ahead

By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer – Thu Sep 30, 10:30 am ET

WASHINGTON – The nation's economic growth tailed off sharply in the spring and probably isn't faring any better now.

Gross domestic product — the broadest measure of the economy's health — expanded at a feeble 1.7 percent annual rate in the April-June quarter, The Commerce Department reported Thursday.

That's a notch higher than the 1.6 percent growth rate the government estimated a month ago. The slight change was mostly due to a little more spending by consumers than first estimated. Still, that's not enough to have a major impact on the economy.

FEEBLE? What a recovery!

Hooray -- The Recession Is Over (Again)

The headline on the business page of the LA Times today says it all:

The recession is over, economists say, but the pain isn't

It must be election time.

How many times over the past few years have various authorities announced the end of our economic downturn (recession/depression/major correction or whatever)? And how many times have the obedient media echoed the announcement?

Is the Great Recession Over? Depends Who You Ask -- (AOL Finance, Feb. 2010)

U.S. Economist Dissents, Saying Recession Is Over -- (NY Times, April, 2010)

Bernanke declares 'recession is very likely over' -- (Wall Street Journal, Sep. 2009)

The Recession Is Over -- (Forbes, May, 2009)

The Recession Is Over! -- (NY Magazine -- 12, 2008)

My only response is to quote that great economist, Lewis Carroll in his master work The Hunting of the Snark --

"What I tell you three times is true."