JK of Three Sources brought this to the forefront on March 15th.
Recession, the word, means something. You don’t get to just poll it and call it good.
Today Extreme Mortman makes the same point as the NYTimes polls folks on the economy. (ht )
We’ve noted frequently in the past the absurdity of polling the recession question — specifically, the “are we in a recession right now?” question. After all, whether you or I think we’re in a recession doesn’t matter. We may have thoughts on whether we’re headed to a recession. But being in a recession is a technical term determined through a specific process.
There’s the full Bernanke quote there too that isn’t quite like Drudge made it sound.