Warren Buffet: We are still in a recession.

In CNBC interview:

http://www.cnbc.com/...

Money Quote:

...
But I will tell you that to any, on any common sense definition, the average American is below where he was before, or his family, in terms of real income, GDP.   We're still in a recession.  
...

This is the root of the divide between the economic camps here at Daily Kos I think.  Both camps are not that optimistic about the future as far as jobs and growth go, but one accepts the non-"common sense" definition the NBR uses as the definition of recovery, the other doesn't, and regularly challenges it.

The NBR says the recession is over because we have stopped moving downwards, and have moved back up a little, while a lot of people, myself included, think that we have not addressed the root causes of this last recession, and will move back down once the inadequate stimulus expires.  No-one wants to believe that, or gets any joy from that view, but that is just the way we see it.

Along with Warren Buffet, consider me in the "we're still in a recession" camp.