I find it hard to fathom that David Gregory doesn't grasp the difference between the definition of a recession and what Americans perceive as a recession. But Gregory needs to get his headline: the recession is not over. The media is just playing games. I hate the way the media rely on tricks to stir up controversy. Here's a blurb at Politico:
Romer says the recession’s not over, but Summers seems to disagree. (McConnell, of course, agrees with Romer.)Economists have already pronounced the end of the recession. Factually, the recession has ended. Christina Romer, an economist, knows that the recession has ended.
She's speaking in lay terms. She's saying what Obama always says-- that the recession isn't over until jobs come back. That's because most Americans don't know what a recession is, but they know what a job is.
But we should be cheering the end of the recession, because it means the only way to go is up. Unless you're a republican. If you're a republican in Congress, you're hoping for another period of economic defeat, a "double dip" recession, so that you have more rocks to throw at the administration.
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Here is the roundtable with loudmouth Jim Cramer, Alan Greenspan, Michigan Governor Jennifer Granholm and icky man Mitt Romney. Romney is such a bore and an arrogant bore at that. He reminds me a lot of Cheney. Fortunately, he didn't get a lot of speaking time. He didn't even need to be there. We all know what he's going to say. He views government as an evil entity.
