Tuesday, December 2, 2008
Your Morning News 12.02.08
Posted by Josh in Automakers, dow jones, economic crisis, Economy, hillary clinton, president obama, recession, Robert Gates
The National Bureau of Economic Research has officially declared that the United States is in a recession, news which sent the Dow Jones industrial average plunging nearly 680 points, or 7.7 percent. Government officials are saying they will do everything possible to turn the recession around. Who knows if they will be successful. I had no idea what officially makes it a recession; thanks to Slate’s Explainer, I do now:
One widespread definition of a recession—the one used by newspapers—is a decline in the gross domestic product for two or more consecutive quarters.
President-elect Obama yesterday announced who will be in his national security team. Leading the team will be Senator Hillary Rodham Clinton as Secretary of State and President Bush’s Defense Secretary Robert Gates as, well, Defense Secretary. Two key takeaways from this are that I am sick to death of hearing the phrase “team of rivals” and that THIS is the best news ever.
After being panned last week for taking three separate corporate jets to ask for bailouts, the heads of the big three automakers will be most likely driving to Washington for a series of meetings with Congress. The head of Ford will be taking Ford’s new hybrid car while the other two haven’t decided how they will get there. Here is a thought: book coach tickets and skip this bullshit. That, or really have fun with it and road trip in an old VW bus.
Finally, if you get paid to run for a living it is probably not a good idea to carry around a loaded gun. It is probably a worse idea to try to unload it while drinking wine and shoot yourself in the leg.