The economy isn’t really all that bad
Published 8:51 am Friday, September 19, 2008
A fair number of pundits say that the economy is in recession. The growth in the gross domestic product was 3.3 percent for the past quarter and .9 percent for the previous quarter. That is not a recession, as I understand the definition of a recession.
According to the Sept. 5 issue of the Wall Street Journal “growth at that rate has exceeded the long-term growth rate of 3.1 percent for the past 50 years”.
This economy is working for my two sons and three grandsons as well as their wives. Two of them have even gotten better jobs in the past few months.
Elwood Guanella
Alden