For much of the country the weather was just brutal it would be ignorant not to factor that into the numbers. Don't be a liberal, don't be ignorant.
LISTEN... where was this "Understanding" and compassion when it came to Bush?
NO President in history had the 4 monumental events occur as:
1) Recession that started under Clinton
2) Dot.com bust that greeted Bush and a loss of $5 trillion in market value i.e. tax revenue!
3) Oh and that little event 9/11 that cost $1 trillion in lost business, 18,000 businesses , airlines closed 3 days, wall street 10 days... WHERE WAS THE understanding THEN!
4) And not ONE president ever had the worst hurricane seasons...not just hurricanes but years of top ten worst hurricanes that cost 1,835 lives $81 billion, 400,000 jobs
Where was the "understanding" of those events?
YET we constantly were barraged by MSM and other totally ignorant LIPs that Bush was a dummy!
And you excuse this penny ass winter period????
No recession started while Clinton was president. That's as far as I got into your post before finding a lie.
Of course idiots like you think "
ah this month no growth in GDP must be start of recession"!
It doesn't work that way.
It takes several miles to turn an oil tanker as does an economy that "STARTS" to slow down i.e. GDP growth declines,,... then like last quarter ZERO... next quarter
-growth and now a full fledge recession starting with Obama!
In Bush's case the indicators were beginning in July 2000 as this graph shows!
View attachment 38899
FAQs
Q: The NBER has dated the beginning of the recession in March 2001. Does this mean that the attacks of September 11 did not have a role in causing the recession?
A. No. Before the attacks, it is possible that the decline in the economy would have been too mild to qualify as a recession. The attacks clearly deepened the contraction and may have been an important factor in turning the episode into a recession.
Q: The financial press often states the definition of a recession as two consecutive quarters of decline in real GDP. How does that relate to the NBERs recession dating procedure?
A: Most of the recessions identified by our procedures do consist of two or more quarters of declining real GDP, but not all of them. But our procedure differs in a number of ways. First, we use monthly indicators to arrive at a monthly chronology. Second, we use indicators subject to much less frequent revision. Third, we consider the depth of the decline in economic activity. Recall that our definition includes the phrase, a significant decline in activity.
Q: Isnt a recession a period of diminished economic activity?
A: Its more accurate to say that a recession the way we use the wordis a period of
diminishing activity rather than
diminished activity. We identify a month when the economy reached a peak of activity and a later month when the economy reached a trough. The time in between is a recession, a period when the economy is contracting. The following period is an expansion. Economic activity is below normal or diminished for some part of the recession and for some part of the following expansion as well. Some call the period of diminished activity a
slump.
Q: You emphasize the payroll survey as a source for data on economy-wide employment. What about the household survey, which showed a decline in employment in August?
A: Although the household survey is a large, well-designed probability sample of the U.S. population, its estimates of total employment appear to be noisier than those from the payroll survey. The downward jump in August, which differs from the payroll data, may be such a random movement. Data in the coming months will help resolve the discrepancy between the two sources of data on employment.
Q: How do the movements of unemployment claims inform the Bureaus thinking?
A: A bulge in jobless claims would appear to forecast declining employment, but we don't use forecasts and the claims numbers have a lot of noise.
Q: What about the unemployment rate, which jumped 0.4 percentage points in August?
A: Unemployment is generally a lagging indicator. Its modest rise from a very low level to date is consistent with the employment data. The household surveythe source of the unemployment rate datacontains random noise that occasionally results in larger than expected changes, as in August.
The Business-Cycle Peak of March 2001
AGAIN NOT MY WORDS!!! NBER statements!!!