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- i4ybrid, on 07/15/2009, -8/+65How many experts will say "the recession is over" and how many will say "the worst is not over yet!"
The truth is, no one has a clue, no matter how much of an "expert" or "guru" they are. - OwlFlavored, on 07/16/2009, -7/+45No.
- stoanhart, on 07/16/2009, -4/+36No, they're just saying that to restore consumer confidence in the hope that that will fix* the economy.
*delay the bursting of the debt-fueled consumer bubble. - Mummo, on 07/15/2009, -5/+34There's a recession?
- inactive, on 07/16/2009, -2/+31I don't care what the numbers say! I'm still unemployed! Mother *****!
- jhbarr, on 07/15/2009, -2/+28Employment is a lagging indicator. http://www.aheadofthecurve-thebook.com/11-03.html
- inactive, on 07/16/2009, -6/+29recession is not over if you don't have a job!
- mywhitenoise, on 07/16/2009, -2/+24And yet you still can't find a job anywhere.
- SoCalDissident, on 07/16/2009, -1/+22If you know any friends that lost their jobs, it's a recession.
If you lost yours, it's a depression. - avataros, on 07/16/2009, -1/+21There will be pockets of incredible growth (e.g. Wall Street - look at Goldman. They've pretty much found their mojo)
There will be pockets of prolonged depression (e.g. Manufacturing - look at Ohio. Some industries are outright doomed)
It's never a homogeneous picture. And the ones hardest hit will not give two ***** about the ones who are doing well, even though their average may suggest a turnaround. Fragile recovery indeed. - DiomedesTydeus, on 07/16/2009, -2/+20Economics articles linked on digg.com are always such a bad scene. Some editorial toeing one of the major party lines makes a lot of loud noises and discusses non-peer reviewed studies or posts some statistics.
Then some people who agree with that party line post about how great this article is while others make snarky remarks.
Can we stick to linking papers that have been reviewed and approved by other people with PhD's in econ rather than arm-chair analyze the economy based on our political affiliations please? - JoeParanoid, on 07/16/2009, -3/+20Considering this recession was brought on by profound systemic problems and none of those problems have yet to be addressed in any meaningful way, it seems we have only put a bit of polish on a leaking boat.
- shepstl, on 07/16/2009, -1/+18the majority of the first stimulus hasn't even been spent yet. let's wait until that happens before we even talk about a second.
- brainrot, on 07/16/2009, -1/+16Good point.
It also makes good business sense, as any intelligent employer wouldn't start hiring more workers until the economy picked up in an appreciable way. - foucaultsvac, on 07/16/2009, -5/+19No economy is without waves: good-bad-good-bad. Recessions are a part of a free and semi-free markets, and good markets (i.e., ones that aren't overregulated) have natural reflexes that activate and bring itself out of recessions.
The bad thing about Obama is that he taking a natural recession that would have worked itself out and turned it into a crisis that is putting future generations into a huge danger zone. It's not worth the short term fix that might happen, yet it not needed anyways. - venomoushealer, on 07/16/2009, -0/+11When people can start getting jobs again, the recession will be over.
The End. - abadonn, on 07/16/2009, -2/+13Does that mean I can have a job now?
- theotheragentm, on 07/16/2009, -4/+14There WAS a recession. Didn't you read the article? Feel free to spend recklessly on things you can't afford.
- xtraimagination, on 07/16/2009, -1/+11But...but...commercial real estate...
- macslut, on 07/16/2009, -0/+10"Is the recession over yet?"
Yes, you can all go home now...wait, what's that? You don't have homes anymore? - amcbride4, on 07/16/2009, -0/+9"A recovery is not immediately evident, forcing experts to grab hold of anything they think might be the early sputtering of an engine coming back to life"
Thats all this is.... - TexanRudeBoy, on 07/16/2009, -2/+11How can it not have spent yet? I thought we had to pass it right away to stop the world from coming to an end?
- solboldi, on 07/15/2009, -20/+29There's still a second wave of mortgage defaults coming.
The federal gov't has been pushing propaganda that the stimulus worked, etc. but it is not true.
Why would they be saying they are considering a second stimulus if the first one worked so well? - grnicon, on 07/16/2009, -1/+9Believe it or not, there are economists out there with a clue and that did predict the crash. The problem is for every good economist, there are dozens on places like CNBC trying to sell you a lie. Such as that loser Jim Cramer. They have a vested interest in manipulating stock prices, so they tell you all is fine. Which they did after Bear Stearns.
Other places, such as newspapers, will tell you BS based on left/right politics. If you want real economic news, look for it from Europe. Their culture over there allows them to give blunt news while remaining outside the American political bias. - whorunbartertwn, on 07/16/2009, -0/+8By this logic since I've remained employed there never was a recession.
- Hetman, on 07/16/2009, -0/+8No that would not be entertianing. That would be work.
- EndAntiSemitism, on 07/16/2009, -1/+9That would be ideal, wouldn't it. But then you would just get the arm-chair rand-koolaid-drinking diggers dismissing them with ad homimens like "he's keynesian so he's wrong!" and linking to some youtube videos...
- alais, on 07/16/2009, -2/+9well, technically whether you're employed or not has nothing to do with the recession but sure ok.
- asami21, on 07/16/2009, -1/+8This IS the "Change" you voted for.
- Phernoree, on 07/16/2009, -0/+7"Unfortunately, modern companies take insane risks when things are going well to make insane amounts of money." and why do these companies take insane risks? Because the government absolves them. This wasn't an isolated occurrence of a company taking a bad risk. This was a massive multilateral occurrence where many, many corporations were taking extreme risks due to the free easy credit, and the assumption that they could externalize their losses to the taxpayers.
"What everybody forgets is...sure...everybody on wall street was drunk....but where did they get all the alcohol?" Schiff - joshuaer, on 07/16/2009, -0/+7I thought obama was not going to support a second stimulus package.
- gizram84, on 07/16/2009, -2/+9Actually, the state of the economy has nothing to do with any one person having or not having a job.
For instance, during the dot com boom when the economy was great, my friend did not have a job. - inactive, on 07/16/2009, -5/+11As long as that crook Obama keeps plunging our country further and further in to debt with his insane policies, this "recession" will never be over. Our money is going to be worthless soon and everyone will be too busy clapping for that teleprompter reading fool flapping his lips about feeling good. Vote Ron Paul and save us all.
- whorunbartertwn, on 07/16/2009, -0/+6There are many ways the recession could have helped someone if they didn't lose their job.
- If was planing on buying a house, houses are much cheaper in many areas sometimes over 40% less.
- Credit is stricter but if you qualify interest rates have been very low.
- Many great deals on American-made cars.
- A downturn is often the best time to open a business as suppliers and commercial/industrial real-estate can be in your favor.
- With the availability of cheap houses apartment vacancies are up so renter advantage. - WorldLeader, on 07/16/2009, -1/+7"Why would they be saying they are considering a second stimulus if the first one worked so well?"
WASHINGTON (Reuters) - U.S. President Barack Obama's administration is not discussing a second stimulus plan to jolt the U.S. economy out of recession, a White House budget official told Congress on Wednesday.
http://www.reuters.com/article/politicsNews/idUSTR ... - blipblopblip, on 07/16/2009, -0/+6Don't want to upset anyone's sensibilities but the "recession" won't be truly "over" until the world financial system has totally collapsed.
- SkippyDoorknob, on 07/16/2009, -0/+6My hair line is in a recession...
- litsgt, on 07/16/2009, -4/+10BUY BUY BUY! QUICK HURRY! ITS OKAY TO SPEND MORE THAN YOUR INCOME ON ***** YOU DONT NEED AGAIN!
corporate propaganda - Arto345, on 07/16/2009, -2/+7http://www.istherecessionoveryet.com
- leif777, on 07/16/2009, -1/+6I donno... I'm hurting all over right now... it sux
- WorldLeader, on 07/16/2009, -4/+9Yet there was nothing natural about the economics that caused the recession in the first place, unless you want to argue that banking and lending companies taking obscene risks without any regulation is all part of the "natural cycle" of things...
The whole laissez faire concept only works when businesses don't do stupid and risky things that might devastate their entire market. Unfortunately, modern companies take insane risks when things are going well to make insane amounts of money. Unregulated, this causes horrible collapses like we are seeing now. This is why the markets and businesses have to be responsibly regulated and held accountable.
This latest recession was definitely not part of the natural cycle of the economy. We don't see this type of thing every 10 years. - alais, on 07/16/2009, -4/+9Nope.
- billalbertson, on 07/16/2009, -0/+5The article is trying to equate one indicator, corporate profits, as the only indicator that a recession is over. Its not surprising that profits are going up when they are laying everyone off! A depression or recession isn't all about how well some investments are doing- its about how well everyone is doing. And many aren't doing that well.
- ZenMojo, on 07/16/2009, -0/+5The truth is, economics has never been a predictive science. Which is why goons take turns making ***** up to get you to pad their wallets.
- RedsoxRock, on 07/16/2009, -0/+5We're a good example of what's happening. My wife was laid off a number of months ago and there have been no job prospects to take its place. We planned for a rainy day so it hasn't been a complete disaster, but we've definitely cut back on spending. I found out yesterday that one of our cars needs roughly 4000 dollars in repairs within a year. Nothing immediate, but we're definitely gonna have trouble down the road. Our fed & state governments desperately need people to start purchasing cars again. We're not going to put 4K of repairs in so we're in the market for a new car. But without my wife working, it doesn't make sense to incur this expense now. We have the money but its just not a prudent expenditure right now. Even when my wife finds work again, who's to say it'll be at an equivalent salary. Its not simply a matter of jobs, but its also jobs that pay well.
- mxxz, on 07/16/2009, -1/+6The executives got their bonuses, of course the recession over. They only call it a recession, when executives aren't going to get paid, thats when a recession occurs, unemployment has nothing to do with it
- changedmind, on 07/16/2009, -0/+4Right, but if you say it and it just happens to be a right call then hey presto you must be an economics genius.
- yocouchdigga, on 07/16/2009, -1/+5not gonna happen.
- ThsGuyRightHere, on 07/16/2009, -0/+4I get it, employment numbers lag behind what the economy is doing. Fine. Still, try telling a leper that his leprosy is cured but he's still going to lose body parts over the next 6-12 months.
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