The RetrieverTraining.Net Forums The Retriever Academy
Total Retriever Training with Mike Lardy
Hawkeye Media Gunners Up Tritronics Gun Dog Broker
Results 1 to 5 of 5

Thread: Yeah, the Recession is Over

  1. #1
    Senior Member Gerry Clinchy's Avatar
    Join Date
    Aug 2007
    Location
    Pennsylvania
    Posts
    6,167

    Default Yeah, the Recession is Over

    http://www.mcall.com/news/breaking/s...,5344502.story

    WASHINGTON (AP) It is about to become official: The U.S. recession is over but not the pain.

    The government will release figures this week expected to show that the economy has awakened from its deepest slump since the 1930s and is in the early stages of a recovery. But the following week, the government will issue another set of figures expected to show unemployment continuing to rise toward and possibly above a clearly recessionary 10 percent.

    How can both be possible?

    The government releases third-quarter Gross Domestic Product figures on Thursday. Many forecasters say they will show GDP growing at an annual rate of about 3 percent, validating a widely held belief among economists that the recession ended in June or July.

    But try telling that to the more than 15 million still unemployed, the small businesses and individuals who can't get loans and the people whose homes are worth less than their mortgages.

    Assertions by government and private economists that the recession is over issued amid graphic examples of continuing wide distress are raising fresh questions about economic scorekeeping.

    The national recession may be technically over, but the state of the economy remains in the eyes of the beholder.

    Or, as Ronald Reagan liked to say, a recession is when your neighbor loses his or her job. Depression is when you lose yours.

    A survey of economic forecasters prepared by Blue Chip Economic Indicators, a research organization, predicted GDP growth to remain positive in each quarter through the end of 2010. In a survey by the National Association of Business Economics, 34 of 43 economists polled said the recession is over.

    "From a technical perspective, the recession is very likely over," said Federal Reserve Chairman Ben Bernanke.

    "A recession that showed no signs of ending last January appears to be firmly entering the recovery phase," said Christina Romer, the chair of the White House Council of Economic Advisers.

    But nobody is sugar coating the statistics, especially in the administration, which agrees with private surveys suggesting that unemployment will hover near 10 percent through most of next year.

    "Even when you've turned the corner, you have so much work to do," Romer told Congress' Joint Economics Committee.

    And while she credited much of the turnabout to government stimulus measures and moves by the Fed, she said "by mid-2010, fiscal stimulus will be contributing little to further growth."

    Even ahead of the report expected to show an increase in economic growth, The Conference Board, a private Chicago-based research group, reported Tuesday that consumers' confidence about the U.S. economy fell unexpectedly in October as job prospects remained bleak.
    ----------
    There's more to the article that indicates that in previous recessions it took "several years" before employment got back to "prosperity" levels of around 4 to 5 percent.

    Also mentioned, and still confusing to me, is how the TARP money has done as much as it's going to do. What? I thought only a small portion of the total had been spent?

    Hey, but if Ben Bernanke says it's so, who are we to doubt?
    G.Clinchy@gmail.com
    "Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim

    ​I don't use the PM feature, so just email me direct at the address shown above.

  2. #2
    Senior Member
    Join Date
    Jun 2009
    Location
    Eastern NC
    Posts
    2,755

    Default

    Quote Originally Posted by Gerry Clinchy View Post
    [URL]Or, as Ronald Reagan liked to say, a recession is when your neighbor loses his or her job. Depression is when you lose yours.
    Recovery is when the president loses his.
    ________
    New jersey dispensaries
    Last edited by ducknwork; 04-21-2011 at 06:22 PM.

  3. #3
    Senior Member Bob Gutermuth's Avatar
    Join Date
    Aug 2004
    Location
    Transchoptankia, DEMOCRATIC Peoples Republic of Maryland
    Posts
    3,065

    Default

    The recession may be over, but the depression is just beginning.
    Bob Gutermuth
    Canvasback Chesapeakes
    ROLL TIDE!

  4. #4
    Senior Member Franco's Avatar
    Join Date
    Jun 2003
    Location
    Lafayette, La.
    Posts
    10,110

    Default

    We can lable the current administration as the,
    "Smoke and Mirrors Administration".
    The Libertarian Party believes that all persons are entitled to keep the fruits of their labor. A call for the repeal of the income tax, abolishment of the Internal Revenue Service and all federal programs and services not required under the U.S. Constitution. We support the passage of a "Balanced Budget Amendment" to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes. LP.org

  5. #5
    Senior Member
    Join Date
    Jun 2009
    Location
    Eastern NC
    Posts
    2,755

    Default

    Quote Originally Posted by Franco View Post
    We can lable the current administration as the,
    "Smoke and Mirrors Administration".
    No no, silly boy. They are to be transparent. Remember?
    ________
    Screplays Colbs""
    Last edited by ducknwork; 04-21-2011 at 06:23 PM.

Similar Threads

  1. The recession is over!!!!!
    By ducknwork in forum POTUS Place - For those who talk Politics in the Gallery!
    Replies: 17
    Last Post: 11-10-2009, 09:23 AM
  2. Yeah Team Thompson!!!
    By PWK in forum RTF - Retriever Training Forum
    Replies: 0
    Last Post: 10-11-2009, 01:58 PM
  3. The recession is over????
    By Uncle Bill in forum POTUS Place - For those who talk Politics in the Gallery!
    Replies: 1
    Last Post: 09-22-2009, 01:24 PM
  4. My Fox Red Male - Yeah! I've got this picture thing going!
    By JusticeDog in forum RTF - Retriever Training Forum
    Replies: 9
    Last Post: 06-26-2007, 08:56 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •