1.0link95621<![CDATA[What Does Recession Mean? It Means Economic Suffering]]>http://www.huffingtonpost.com/jeff-madrick/what-does-recession-mean_b_95621.htmlYou must have noticed that a minor debate over semantics in the media since last Friday's devastating employment report. Lost were 80,000 jobs in March. The unemployment rate rose. Is it technically a recession? Does language matter?
What to remember about the silly debate over the nomenclature is that recession affects most of us. Here's the upshot, and I will repeat it: It is entirely possible that the median American wage in 2010 will be what it was in 1995...