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Time to party! According to the National Bureau of Economic Research, The Great Recession is over. Yipee! In fact, apparently we should have started partying since last summer. People who track these things say the recession has been over since June 2009. Who knew?

Here’s something cool and oddly comforting:  if the economy takes another downturn, officials will consider it to be a brand new recession.

And in case you couldn’t tell, The Great Recession really was The Great Recession. It lasted longer than any other recession since World War II. Clocking in at 18 months, it beat the closest competition – 1973-1975 and 1981-1982 – both 16-month recessions.  

Now, nobody is saying the economy is roaring back to life, and the Atlanta foreclosure statistics are still staggering, but as history plays itself out there’s new hope that the light at the end of the tunnel is not an on-coming train.

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