What is a growing economy?
News stories are touting that the U.S. economy expanded in the 4th quarter of 2009 at a pace faster than any quarter in six years. All told, the economy grew at a rate of 5.7%. But what does that mean? The rate increase refers to the increase of Gross Domestic Product. Not sure what Gross [...]
Defining Recession, now that’s it’s apparently over
According to Washington and some recent economic data, the recession has come to an end. The lack of presents that will be under my Christmas tree this year are reason enough to debate that statement, but it should be realized that ending a recession and ending “difficult times” are not the same thing. The actual [...]
GDP in 60 seconds or less
Any conversation at any get together you attend this weekend is bound to include talk of our miserable economy. The latest “woe is us” news involves a 6.2% drop in GDP for the fourth quarter of 2008. Throw that number out there and include that it’s the worst quarterly decline for the U.S. economy since [...]
