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<P><FONT size="2"><STRONG> An interesting article that introduces a new lexical item, plus a new definition of an "understood" lexical item. First,"fughettaboutit" (see below). It has such a distinctive spelling/pronunciation gloss, I'll have to include it in my lexicon. <BR> Second, I was educated in the understanding that a "recession" was two consecutive quarters of negative GDP. Not unlike E=MC2, it has such elegance and pith . But all our concepts of recession need to be revised (again see below). From now on, when we non-financial-specialists speak of being in a recession, we'll have to say something like,"Gee, when do you think this GDP/industrial Production/Employment/Personal Income/Wholesale/Retail Sales slump will be over?" <BR> Who out there could complain about such an extravagant new name?" What's in a name? That which we call a recession by any other name would smell as sweet. (Romeo and Juliet 2.2.43-44) <BR><BR>The following was from Tech/Ticker --<BR><BR></STRONG></FONT><I><U><STRONG>Fughettaboutit</STRONG></U>.</I> <FONT size="2">The U.S. economy is in a recession that began in late 2007 and is likely to last much longer than the typical downturn, says </FONT><A href="http://www.schwab.com/public/schwab/research_strategies/market_insight/schwab_experts/bios/liz_ann_sonders.html"><U><FONT color="#0000ff" size="2"><FONT color="#0000ff" size="2">Liz Ann Sonders</U></FONT></FONT></A><FONT size="2">, chief investment strategist at Charles Schwab & Co. <BR><STRONG>Contrary to popular belief, "consecutive quarters of negative GDP" is not what defines a <U>recession</U>. In fact, the </STRONG></FONT><A href="http://www.nber.org/cycles/recessions.html"><U><FONT color="#0000ff" size="2"><FONT color="#0000ff" size="2"><STRONG>National Bureau of Economic Research uses five parameters</STRONG></U></FONT></FONT></A><FONT size="2"><STRONG> to determine whether the economy is growing or not: <BR></STRONG><STRON
G><BR>Real GDP (inflation-adjusted GDP, that is) <BR></STRONG><STRONG>Industrial Production <BR></STRONG><STRONG>Employment <BR></STRONG><STRONG>Personal Income <BR></STRONG><STRONG>Wholesale/Retail Sales <BR><BR>By the way, Chaz & Fritz, I got your messages. You were regular Joe's in saying those things.</STRONG></P>
<P><STRONG>Scott Nelson </STRONG></P></FONT>
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