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Yesterday morning, amidst financial disaster or near-disaster, John McCain said, “the fundamentals of our economy are strong.” Today, the Obama campaign is making him pay.
In response to anyone who thinks they can use statistics and technical definitions to argue the fundamentals of the economy are strong, I would echo a point Paul Krugman made last night on MSNBC (video): Given the state of our banks, our homes, our jobs, and our wages, if we aren’t in a recession yet we need to seriously rethink our definition of recession.
