Pointing to a few small signs in today’s news that the economy is recovering, New York magazine’s Daily Intel blog goes a step further and declares that the recession is over. OK, we know they’re mostly kidding, but we still think such a statement is a bit premature. Who knows, though, maybe a year from now the National Bureau of Economic Research will say the recession ended on December 11, 2008. After all, they just told us it started a year ago.
NYMag.com: [A]longside the bad news in today’s papers, there were also several signs that, like crocuses in the springtime, announced a thaw was en route…
1. Joshua Persky, the guy who made headlines back in June when he appeared on Park Avenue wearing a sandwich board proclaiming “M.I.T. grad for hire,” got a job.
2. Rich women are secretly buying fancy shrugs. (Bonus points here because that is a garment that no one actually needs.)
3. People are quietly making piles of money off of YouTube videos. This, plus problems elsewhere are on the front page of the New York Times, and recession-related material has been relegated to below the fold.
Plus, Wikipedia says that the average length of U.S. recessions is thirteen months, and we’re about there.
See? We told ya.