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- uptwolait, on 12/04/2008, -5/+191I just found out my hair has been in recession since 2007 too. *****.
- bmkalbf, on 12/04/2008, -19/+167The U.S. has been in a recession? I watch FOX news all the time and I have never heard anything about this!!! WOW
- Seann7656, on 12/04/2008, -2/+81I love recess!
- pintomp3, on 12/04/2008, -5/+78they started talking about on nov 5th. they call it the obama economy. i heard he started the war in iraq too.
- atdigg, on 12/04/2008, -3/+68it's not FOX news fault, their fault is believing our leaders...
- "We don't believe we're going to have a recession though." [Vice President Dick Cheney, 1/30/08 ]
- "I think the experts will tell you we're not in a recession." [President Bush, 2/10/08 ]
- "The answer is, I don't think we are in a recession right now." [Council of Economic Advisers Chairman Edward Lazear, 2/11/08 ]
- "First of all, we're not in a recession." [President Bush, 4/22/08 ]
- "The data are pretty clear that we are not in a recession." [Council of Economic Advisers Chairman Edward Lazear, 5/7/08 ]
- "I don't think we are" in a recession. [Director of the National Economic Council Keith Hennesy, 6/3/08 ]
- "I think we have avoided a recession." [White House Budget Director Jim Nussle, 7/31/08 ]
- "I don't think anybody could tell you right now if we're in a recession or not" [Dana Perino, 10/7/08 ]
(I stole this list from a slashdot post) - JackPallance, on 12/04/2008, -1/+44The economy is not the same thing as the stock market.
The stock market is not the same thing as the Dow Jones Industrial Average. - mediaspree, on 12/04/2008, -4/+40Depression '09... be there!
- pintomp3, on 12/04/2008, -2/+35my hairline is in recession and my stomach is experiencing hyper-inflation.
- techguru2006, on 12/04/2008, -7/+32The DOW is so confused by the economic state we're in. One day it plummets, the next day it skyrockets.
- BESTenemy, on 12/04/2008, -1/+23By the time they acknowledge the Depression we'll already be few years into it.
- mrgreenjeans, on 12/04/2008, -0/+21You must not have a kindly tall friend like me.
"I hate being so tall...I gotta look at everyone's bald spots." - OfficeSpacing, on 12/04/2008, -0/+19That is actually an intelligent thought process by stock trader standards.
- alsilver007, on 12/04/2008, -2/+15In 16 US recessions since 1919, the average has been 13 months.
If the 2008 recession is an average one, the market should bottom around November of 2008.
Some economists fear that this one may last longer...
Recession stocks to buy: Alcohol companies, gun makers, oral cyanide tablet companies, and Citigroup. - monkeyrun, on 12/04/2008, -4/+17you mean it has nothing to do with 10s of thousands of people losing their jobs daily?
- TheMachine1, on 12/04/2008, -1/+13Labeling an obvious economic slow down officially a recession is the same semantic ***** that got Pluto downgraded from planet to planetoid.
- UnkelJethro, on 12/04/2008, -2/+13Oh god, financial comments on digg. Brace for impact.
- MazeKaz, on 12/04/2008, -1/+11... what?
- ZincSaucier, on 12/04/2008, -2/+12about a year ago i remember many news sources pointing out that we will not know there is a recession until we are on our way out of it.. so what is so ironic here
- ajimmykid, on 12/04/2008, -2/+12good observation
- cheezintern, on 12/05/2008, -0/+10That's the only way economist are able to find out we're in a recession to begin with. They can only analyze past data to describe the current state, since future economic data is really hard to get.
- rogue780, on 12/04/2008, -2/+11very astute.
- ihatediggcom, on 12/04/2008, -1/+10dugg for being honest as to why you dugg the comment
- Ghoztt, on 12/04/2008, -6/+15Quick! Everyone erase any memory of that lying filthy crazy senile ol' man Ron Paul telling us this a long time ago, and the establishment safely guarding us against his thoughts!
Thank you establishment! - Aadain, on 12/04/2008, -1/+9I see the WH was following the ostridge approach to the economy: stick your head in the ground and the problem will just go away.
- asforme, on 12/05/2008, -0/+7How do we end this financial ***** storm?
We get the government out of and we let interest rates and prices return to where the free market would have them. Some businesses that need to will go bankrupt, others will take their places and without having hopes of bailouts and arbitrary government meddling competition will stabilize the market. - Seann7656, on 12/04/2008, -2/+9So I lost my IT job just because of people over-reacting?
- rogue780, on 12/04/2008, -1/+8It technically wasn't a recession then either...GDP didn't decrease for 2 consecutive quarters, as it still hasn't. It was the dot com crash and an economic slowing, but there was still growth.
- delere, on 12/05/2008, -0/+7Isn't the definition of recession when 2 consecutive quarters have certain economic indicators? Surely it doesn't take 5 months do analyze the data for that. They know how much money was spent on Black Friday the next morning! Why didn't we hear the 'official word' in July or August?
- yifanlu94, on 12/04/2008, -1/+8Dugg for honesty.
- karan1003, on 12/04/2008, -0/+7it's that kind of silly thinking that artificially inflated the stock market in the first place. People took out loans to maintain a certain standard of living, and investors mistook that for economic strength.
- inactive, on 12/05/2008, -0/+7So your body's in a state of stagflation?
- Cglass, on 12/05/2008, -0/+7ITS A GOD DAMN PLANET IN MY BOOK,
BITCHES - jamdogg, on 12/04/2008, -1/+8It's a snowball effect. The people are losing jobs because demand for goods and services has dropped because everyone thinks there's a recession because people are losing jobs.....
The result of a debt-based economy. - chrissku, on 12/04/2008, -4/+10I think the public figured out the we were in a recession when the stock market went from 14,000 to 7,500 pts ?!? That's usually a pretty accurate barometer. Now the main questions we have are
-How much worse can this get?
-How do we end this financial ***** storm? - Tbyrd073, on 12/04/2008, -1/+7Not if you don't have the money to invest, which not everyone does.
- numb401, on 12/05/2008, -1/+7When the rules keep changing, the players start playing irrationally.
- asforme, on 12/05/2008, -0/+6A "credit crisis" is a godsend. People need to stop spending money they don't have.
- JCEEZ, on 12/05/2008, -0/+6Handball! Slicies! No pink elephants.
- jnosanov, on 12/05/2008, -0/+5HERETIC! That's far too reasonable to be true!
/sarcasm - ErrorLoading, on 12/04/2008, -0/+5I know, you really have to stretch a story to include a black person in it. So stupid. Oh, and a woman. Luckily it wasn't a black woman.
- Mujokan, on 12/05/2008, -0/+5IMO the big problem with Greenspan was his view that you can't tell when you're in a bubble, so you wait till it pops then clean it up. That's how I've heard it described, anyway. Of course traders love this, because they think short term. And they can hold the Fed to ransom by threatening to throw a tantrum over the slightest rate hike. So Greenspan never took any action to burst the liquidity bubble earlier.
But it should have been obvious that housing was overvalued, that there was too much debt, and that the complexity of the way debt was spread around was going to make the crash particularly nasty. Simplistic ideology FTL. - atmenterprises, on 12/04/2008, -2/+7I never heard anything about the recession that started near the end of Clinton's presidency on any of the mainstream news networks, either, but it happened.
- sodade, on 12/05/2008, -0/+5As a digg user, doesn't it drive you nuts to not be able to digg on slashdot?
- DevilInPgh, on 12/05/2008, -0/+5Little boxes, on the hillside...
- Kakumeikeahi, on 12/05/2008, -1/+5Funny, I thought recession started when the government set up this horrible economy.
Thanks Allen Greenspan. you ***** - morninglorii, on 12/05/2008, -0/+4I love Reese's!
- diizy, on 12/04/2008, -5/+9It's funny because if everyone saw that and actually bought, then it would simply help the economy as it is.
- hinchb, on 12/05/2008, -0/+3What kind of ***** overanalyzation is this?
- mxmj, on 12/04/2008, -1/+4Ignoring something does not make it go away. It may lessen the impact in the short term but it will just make it worse over time.
- inactive, on 12/04/2008, -3/+6Oh hai guys I don't want to alarm anyone but I think we're in a recession.
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