Is Europe's Recession Really Over?

jones_supa writes "Bloomberg, the WSJ and the NYT cheered to report that the Euro Zone's economy has showed signs of recovery after two years of decline. They're all based on the news that Eurostat, the keeper of economic statistics for the European Union, says GDP grew 0.3 percent within the EU's borders from the end of March through June. As Olli Rehn, Eurostat's vice president, writes on his blog: 'I hope there will be no premature, self-congratulatory statements suggesting "the crisis is over."' He calls the GDP report only another sign of 'a potential turning point in the EU economy.' The quick conclusion by some economists and some in the news media that a slight rise in one quarter's GDP means a recession is over ignores how experts figure out when an economy is either in a significant downturn (a recession) or enjoying steady growth (an expansion)."

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Re:Betteridge is actually wrong this time

[Sponge Bath]

Ronald Wilson Reagan

Quoting Republican scripture I see. Everyone join in:

And Saint Reagan raised trickle down up on high, saying, 'O Lord, bless this thy economic voodoo that with it thou mayest blow thine enemies to tiny bits, in thy mercy.' And the Lord did grin, and the people did feast upon the lambs and sloths and carp and anchovies and orangutans and breakfast cereals and fruit bats and large chu...