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Earth to economists: Recession isn't over
Last week’s stream of economic data points to the emergence of a great divide. On the positive side, annualized third-quarter GDP was up 3.5 percent compared to the prior quarter. (Keep in mind that this is an "advance" estimate from the Dept. of Commerce. Stay tuned for revisions.) But consumer spending for September fell 0.5 percent. That’s the biggest dip since December 2008 when we were in the midst of the financial crisis. More
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