Recession is over???

http://articles.latimes.com/2010/sep/21/business/la-fi-recession-over-20100921

So on Tuesday, the United States' Bureau of Economic Research gave us all the good news we've been waiting for... The recession is over! Not only is it over, but it's been over since June of 2009...?

Let's see, we have a 9.6% national unemployment rate (Actual rate closer to 14%). Housing foreclosures continue to rise every month. Housing starts continue to drop. Housing sales and values continue to fall. The stock market is as volatile as it's ever been (And if I recall was hovering barely over 8,000 last June). And I'm pretty sure that every other economic marker to evaluate growth is still in the toilet.

One has to ask... What exactly about the economy suggests that the recession is over? I mean short of them making the announcement hours before Obama did a televised Town Hall where he commented about the announcement... I would like to give this inept group of economists the benefit of the doubt, since they are supposedly unafilliated with any political group and a "nonprofit". But I see no evidence to support their "findings". So unless someone can provide the world with actual facts to back their alledged findings, I have to believe that they have an agenda that somehow coincides with this administration and is somehow trying to help paint a brighter picture of what most of America is seeing as failed policies where the country continues to flounder.

It's more Bravo Sierra in time for the November elections.

That among many other things... They really believe the people are stupid enough not to see through the BS. I can't believe the average person isn't more offended and pissed at how they're viewed...

i dont get why people whine about this like its some party theory

they went to the number crunching dorks that determine when recessions start and end and they told us that the recession according to their terms on what is a recession, the recession ended a year ago

interesting

LikesToFightGuy wrote:

http://articles.latimes.com/2010/sep/21/business/la-fi-recession-over-20100921

So on Tuesday, the United States' Bureau of Economic Research gave us all the good news we've been waiting for... The recession is over! Not only is it over, but it's been over since June of 2009...?

Let's see, we have a 9.6% national unemployment rate (Actual rate closer to 14%). Housing foreclosures continue to rise every month. Housing starts continue to drop. Housing sales and values continue to fall. The stock market is as volatile as it's ever been (And if I recall was hovering barely over 8,000 last June). And I'm pretty sure that every other economic marker to evaluate growth is still in the toilet.

One has to ask... What exactly about the economy suggests that the recession is over? I mean short of them making the announcement hours before Obama did a televised Town Hall where he commented about the announcement... I would like to give this inept group of economists the benefit of the doubt, since they are supposedly unafilliated with any political group and a "nonprofit". But I see no evidence to support their "findings". So unless someone can provide the world with actual facts to back their alledged findings, I have to believe that they have an agenda that somehow coincides with this administration and is somehow trying to help paint a brighter picture of what most of America is seeing as failed policies where the country continues to flounder.

GDP has been positive for the last four quarters and turned positive in Q3 2009.

The traditional definition of a recession is two or more consecutive quarters of negaitve GDP. That trend ended about a year ago. There is nothing surprising here.

And for the record NOBODY has less use for this administration than I do.

marbleheadmaui wrote:

LikesToFightGuy wrote:

http://articles.latimes.com/2010/sep/21/business/la-fi-recession-over-20100921

So on Tuesday, the United States' Bureau of Economic Research gave us all the good news we've been waiting for... The recession is over! Not only is it over, but it's been over since June of 2009...?

Let's see, we have a 9.6% national unemployment rate (Actual rate closer to 14%). Housing foreclosures continue to rise every month. Housing starts continue to drop. Housing sales and values continue to fall. The stock market is as volatile as it's ever been (And if I recall was hovering barely over 8,000 last June). And I'm pretty sure that every other economic marker to evaluate growth is still in the toilet.

One has to ask... What exactly about the economy suggests that the recession is over? I mean short of them making the announcement hours before Obama did a televised Town Hall where he commented about the announcement... I would like to give this inept group of economists the benefit of the doubt, since they are supposedly unafilliated with any political group and a "nonprofit". But I see no evidence to support their "findings". So unless someone can provide the world with actual facts to back their alledged findings, I have to believe that they have an agenda that somehow coincides with this administration and is somehow trying to help paint a brighter picture of what most of America is seeing as failed policies where the country continues to flounder.

GDP has been positive for the last four quarters and turned positive in Q3 2009.

The traditional definition of a recession is two or more consecutive quarters of negaitve GDP. That trend ended about a year ago. There is nothing surprising here.

And for the record NOBODY has less use for this administration than I do.

Thanks dog.

To the exten anyone cares here is the NBER press release

http://www.nber.org/cycles/sept2010.html

Here is the key paragraph

The committee waited to make its decision until revisions in the National Income and Product Accounts, released on July 30 and August 27, 2010, clarified the 2009 time path of the two broadest measures of economic activity, real Gross Domestic Product (real GDP) and real Gross Domestic Income (real GDI). The committee noted that in the most recent data, for the second quarter of 2010, the average of real GDP and real GDI was 3.1 percent above its low in the second quarter of 2009 but remained 1.3 percent below the previous peak which was reached in the fourth quarter of 2007.

One other point. The economists who make up the NBER are hardly a set of wild-eyed lefties. Fer crying out loud Martin Feldstein and Robert Hall and Robert Stock are three of them.

People who are unemployed have no interest in GDP.I'm not here to argue with Marble,but those are the facts.

yes. the recession is over. The dollar is at it's lowest value ever and unemployment is rising. But the recession is over. Praise the politicians!!!

oggy420 wrote:

yes. the recession is over. The dollar is at it's lowest value ever and unemployment is rising. But the recession is over. Praise the politicians!!!

Don't blame me I voted for the old guy.

Politicians are mostly all the same. There are very few honest one's with integrity. Most of them are in it for profit and power. Obama and McCain serve the same interests at the end of the day.

oggy420 wrote:

Politicians are mostly all the same. There are very few honest one's with integrity. Most of them are in it for profit and power. Obama and McCain serve the same interests at the end of the day.

Yeah except McCain didn't have a cool catch phrase like "YES WE CAN!"

McCain would of been the worst

That's probably true. He would have kept the iraq war going for the simple reason that he profits from it. His foreign policy would definitely been worse. As for economics im not sure. We need smaller federal government and that is opposite of what Obama is.

This is the jobless recovery I saw analysts predicting two years ago.

oggy420 wrote:

That's probably true. He would have kept the iraq war going for the simple reason that he profits from it. His foreign policy would definitely been worse. As for economics im not sure. We need smaller federal government and that is opposite of what Obama is.

All you really have to do is look at what he has done in the senate and in his own state. That he is not in jail right now is an injustice.

well that can be said about a lot of politicians and even former presidents.

That's true, but I'm talking about murder for profit.

of course. what else would we be talking about? Haliburton and the Carlyle Group ring a bell? It amazes me that no one really cares to connect the dots.

I'm talking about Arizona citizens. McCain's decisions have led to many dead people here. The United Nations have declared the events in Arizona to be a government mandated genocide, this in recent history, not the 1800's or anything. McCain was and has been a key figure in orchestrating and maintaining it.

WinstonSmith wrote:

People who are unemployed have no interest in GDP.I'm not here to argue with Marble,but those are the facts.

Don't diagree but that's not the issue at hand.

Wolfgangsta wrote:

This is the jobless recovery I saw analysts predicting two years ago.

EVERY RECOVERY is jobless. Employment is a lagging indicator.

GDPofDRC wrote:

I'm talking about Arizona citizens. McCain's decisions have led to many dead people here. The United Nations have declared the events in Arizona to be a government mandated genocide, this in recent history, not the 1800's or anything. McCain was and has been a key figure in orchestrating and maintaining it.

of course. This is "our" country. The White man slaughtered a lot of native americans to conquer this country. We are not about to let a bunch of immigrants from latin american lands that we have already raped to come here and take our jobs. "They took our jobbbsss!!!!!!!!"

recessions and depressions are orchestrated events (great depression). Look no further than the fractional reserve banking system of the FED reserve. They create debt, inflation and interest. A monetary system that makes it's own laws and regulations will never work. We are headed towards economic disaster despite what the media wants you to believe.

oggy420 wrote:

GDPofDRC wrote:

I'm talking about Arizona citizens. McCain's decisions have led to many dead people here. The United Nations have declared the events in Arizona to be a government mandated genocide, this in recent history, not the 1800's or anything. McCain was and has been a key figure in orchestrating and maintaining it.

of course. This is "our" country. The White man slaughtered a lot of native americans to conquer this country. We are not about to let a bunch of immigrants from latin american lands that we have already raped to come here and take our jobs. "They took our jobbbsss!!!!!!!!"

I'm talking about 100% U.S. Citizens, not legal or illegal immigrants from south of the border.