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Econalypto

in News on December 2, 2008 at 12:00 am PT

Good thing the National Bureau of Economic Research wasn’t established with the goal of providing timely economic analysis; otherwise its announcement Monday that the country has been in a recession since December 2007 might seem, you know, ludicrous. But the NBER’s business is quantitative historical analysis, not timely economic intelligence. And that makes today’s pronouncement even more worrisome.