Monday, December 1, 2008

Well, No Shit, Sherlock

The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007.

IT took them 12 months to discover what each and every one of us who watches the news and lives in this world has known for 11 1/2 months? I need a raise.

And could any of this be avoided?

The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown

Maybe I should be an economist. I knew this was happening. I knew the housing bubble was going to burst. I knew there were problems.

I have nothing else to say.

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