Don Nichols, UW-Madison professor emeritus of economics and public affairs, could very well say, “I told you so.”
Back in September 2007, Nichols projected the recession would begin in the final months of last year, with a reduction in the GDP, or gross domestic product, for the fourth quarter.
The National Bureau of Economic Research, a group of academic economists, concluded Monday that the country has been suffering through a recession since December 2007.