Originally Posted by
ewrbasedpilot
...I sincerely believe these idiots who say this isn't a recession are smoking dope or something close to it).
Perhaps those "idiots" don't think we are in a recession because they know what the definition of a recession is.
'The official definition of recession is when GDP growth is negative for consecutive two quarters or more. However, you can feel like you are in a recession before it has officially started because it is usually preceded by several quarters of slowing but positive growth. It feels like a recession when GDP growth slows....'
Reference:
http://useconomy.about.com/od/grossd.../Recession.htm