Acclaimed Economist Says Recession Is Over - The Economy Article - economy, unemployment, recession

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Acclaimed Economist Says Recession Is Over

Article Submitted by: ktexas
The Economy

Tags: Economy, Unemployment, Recession, Economic growth.

The source is Robert J. Gordon, an acclaimed macroeconomist and professor at Northwestern University. It's surprising to learn he thinks the recession is over, because he is one of seven members of the elite Business Cycle Dating Committee of the National Bureau of Economic Analysis . These are the people who decide officially, for the record books, when recessions begin and end - usually many months after the fact, when the decision is really obvious.

Submitted: May 18, 2009 Views: 89 Comments: 1 Likes: 1

View Article: http://www.smartmoney.com/investing/economy/acclaimed-economist-say...

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Comments Received:

CalistaS

Was it a great news that recession is over? Even I was very glad to hear that. But I hope that is for real or not just any other publicity. Because, I am aware and fears that a lot of the options for short term funding have been drying up. Short term funding is a necessary thing to have around, and going through traditional channels such as banks isn't an option for a lot of people anymore – basically it's only open to Ken Lewis. Installment loans are an option, but some people, including senior citizens, have been thinking about raiding their retirement fund. Getting into your pension retirement plan or 401(k) funds is the last thing you want to do if you don't qualify for any withdrawals yet. The penalties are substantial, and you'll end up needing installments loans to pay them if you use retirement funds for short term funding.

Posted: May 23, 2009

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