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
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YES, this Aversa should be a czar for obama………she is acting just like one of his LEMMINGS !!!!!
The downturn began in 1st quarter 2008 when when the business community realized that the Democrats might be swept into power by the relentless attacks from a unified press combined with a corrupted GOP congress and a war exhausted President. As it became increasingly clear that the democrats would take over the congress and win the presidency the business community slammed on the brakes in fear of what new reality would be imposed on them. All businesses that were weak or had overexposed credit went into the tank very quickly resulting in layoffs, a further slowing economy and an imploding housing market. The banks were quickly overwhelmed and the stock market slumped bringing additional financial chaos. When Obama was nominated the business community went into lock-down mode. Business is still locked down and will creep to a new minimized normal as they adjust to more intrusive government. The capitalist system can not lead the way to a robust economy with the heavy hand of the government choking off growth.