"Rabbit season."
"Duck season."

Classic, hilarious back and forth between Daffy Duck and Bugs Bunny.

"The recession is over."
"Of course it's not."

Two (less hilarious) independent statements made by Director of the National Economic Council Larry Summers, and Outgoing Council of Economic Advisers Chairwoman Christina Romer. On the same day.

So where are we? We were supposed to have been popping champagne corks by now. Instead, we're staring at bad data. The worst part? The data is staring right back. New home sales are the lowest they've been since records began in 1963, when the U.S. population was 189 million (compared to 310 million today.) Unemployment has been above 9% since March of last year. And new orders for durable good rose a paltry 0.3%, much less than the 3% that had been predicted.

The stock market hasn't been showing much hope either. Look at  this line that tracks the Dow for the last year looks like it takes two steps up, then one down… then two more up, then one down… then another down… then it spazzes out from May until now.

So the experts are divided, and economic indicators are tough to read. The best thing you can do? Point fingers! It's easy, it's quick, and even if you're wrong, it makes your opponents waste time by refuting your points while you think of a new strategy. Just ask this random blogger, who claims that Democrats' 2008 victories are responsible for this mess, which prompted this response by U.S. News and World Report. Well, at least finger-pointing during a recession (or, perhaps, a recovery) has one purpose: to provide fodder for bloggers and legitimate journalists alike. Form your opinions now!

--Brandon

Photo taken from this photostream and used with permission of a Creative Commons license.
 

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