Today we have been treated to what my husband calls a blinding glimpse of the obvious: the National Bureau of Economic Research has officially declared this economic malaise to be a recession. Even better? The recession started in December 2007. Today is the first day of December 2008. The insight that the NBER has provided is astounding. The whole thing brings to mind women who supposedly never knew they were pregnant until they gave birth. Quite literally unbelievable.
So, how does this information change your life and mine? Well, I suppose the upside is that now that a recession has actually been declared, we're certainly closer to the end than we were before. Don't mistake what I just wrote - I am NOT saying the end of the recession is near. What I am saying is that getting past denial is the first step to recovery. How long recovery takes depends on the severity of the original illness.
Beyond that? Carry on. Nothing much to see here.