Reply #30: I happen to be a University Economics professor

[jafap]

Okay, I worked as an associate instructor 13 years ago, but you can still put your arrogant patronizing where the sun don't shine.

You quoted a paragraph that I had quoted two posts before in this same thread. Gee, maybe I have not even read my own posts.

You may want to try following your own link http://www.nber.org/cycles/july2003/recessions.pdf

and look at the graph on page six of how payroll employment rises like it has taken viagra in the recovery of the previous six recessions and how it stumbles along like a punch drunk boxer in this so-called recovery.

So they make noises about employment being a lagging indicator, but it was not for the other six recessions. By their own graph, this "recovery" looks different. Can they say why? They also say they could legitimately define a recession by % of capacity used. If they did so, how would today's economy compare to other downturns?