The Associated Press’s business writers and many others in the establishment press spent just over a year reminding readers at seemingly every conceivable opportunity that the recession began in December 2007, simply because the supposedly apolitical collection of academics at the National Bureau for Economic Research said so.
Lo and behold, in her year-end roundup of 2009′s top business stories, an article so biased and error-prone that I am devoting my next weekly column to deconstructing it, the Associated Press’s Jeannine Aversa writes that:
After four quarters of decline, the economy returns to growth during the July-to-September period, signaling the end of the deepest and longest recession since the 1930s.
Well, isn’t that special?
All of a sudden, Aversa is telling us that that the recession really ran from the third quarter of 2008 through the second quarter of 2009. She says that the recession ended during the third quarter of 2009 simply because the economy has returned to positive GDP growth (i.e., the “signal” went from a minus sign to a plus sign), which means she is now pegging it as having begun just four quarters earlier.
Read More: By Tom Blumer, Newsbusters