It’s Official
December 1st, 2008 by 
reality
The NBER confirms what we already knew - we’re in recession and have been since December 2007.
The U.S. economy entered a recession in December 2007, a committee of economists at the private National Bureau of Economic Research said Monday. The economy reached a peak in December and has been declining since, according to the business cycle dating committee of the NBER.
Posted in The Economy | 
December 1st, 2008 at 4:36 pm
These guys are funny. I somehow thought it is obvious to everyone by now..
Few off-topic thoughts on previous week’s rally: Last year you mentioned one interesting point about November being the last month of the year on which the bonus calculations are made and how last day of November always closes up. Well, this seems to hold quite well.
Interesting thing that during this rally both 10 year and 3 month treasury yields were still going down. Does this suggest some short covering? So people took profits and we are back to shorting again.
There are so many believers in Value at the moment, but I still cant see it… A good article on what is actually going on: http://finance.yahoo.com/banking-budgeting/article/106201/Ignore-the-Stock-Market-Until-February