23 Sep 2010

Hooray, the Recession Is Over!

Shameless Self-Promotion 1 Comment

I’m not the first to poke fun at the NBER for saying the recession ended (15 months ago), but I haven’t seen anyone stress this point:

…I just want to point out that the NBER’s techniques implicitly justify big government. For example, suppose the Austrians are right, and that the Fed’s massive interventions — coupled with the federal government’s absurd “stimulus” programs and other power grabs — at best will postpone the economic correction, and in fact they will make the crash that much worse.

Well, according to the way the NBER works, nobody would ever know this. Instead, “history” will record that Bernanke and Obama did indeed manage to end the awful Great Recession — specifically, in June of 2009 — but then something else came along and inexplicably wrecked things. Maybe Christine O’Donnell.

One Response to “Hooray, the Recession Is Over!”

  1. Fascist Soup says:

    I hope they issue a new report claiming the recession ends every month.

    It makes them look like a bunch of mentally handicapped people and provides me fresh material to lampoon.

    Even statist democrats don’t believe this nonsense.