That Sinking Feeling

Sick and tired of hearing about how depressing the economy is? Well kids, its official. The Business Cycle Dating Committee of the National Bureau of Economic Research (a.k.a. the pimp-daddy of all economic organizations and the one that officially gets to declare recessions) has–you guessed it–declared a recession. Some of us may remember finance class where a recession is loosely defined as two consecutive quarters of economic contraction, or negative growth, but its not official until these guys say so. Our economy peaked in December of 2007…ahhhhh, the good old days. One year later, we find ourselves trading our Nobu jalapeno yellowtail sashimi for a Long John Silver’s fish basket combo. (From the WSJ)