The National Bureau of Economic Research let us know today that America is in a recession! The NBER also said on Monday that the U.S. has been in a recession since December 2007!
Wow! Like we didn't already know that!
There might have been some that didn't realize this as there was over 14 billion dollars spent on Black Friday. This is up almost 1.5% from last year!
Since the NBER waited until the Monday after Black Friday to announce the recession, I'm wondering if any of the 14 billion purchases will be returned for a cash refund?
The last two recessions (1990-1991 and 2001) lasted eight months each, and only two of the 10 previous post-Depression downturns lasted as long as a full year, according to the NBER.
Maybe with someone actually saying the U.S. is in a recession, this will be the start of a new tomorrow. Hopefully, it will happen that quickly.
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