Tuesday, July 7, 2009
"Another quarter gone by. That makes three since the foundations blew out from underneath Lehman Brothers and six quarters since the start of the U.S. recession at the end of 2007. It seems like the negativity is lasting an eternity, and in terms of economic cycles it is. Since the Great Depression, which lasted 14 quarters, the longest recession has been five quarters long, 1981 to 1982. So, at six quarters and counting, the new tag line for our current malaise, 'The Great Recession,' seems appropriate."