dailyfinance.com — Calling the current economic contraction a recession is like calling Bubonic Plague a slight illness. We are clearly in the worst economic contraction since the Great Depression. Secondly, the official organization that dates recessions defines the current recession based primarily on job losses -- with this dating back to December 2007.
Jul 26, 2009 View in Crawl 4
mrfunstuffJul 27, 2009
Other countries are doing better than The U.S because their countries are making money and not just printing money, like the U.S The countries that follow America monetary polices of extremely low interest rates like the U.K(America is near 0%) are going to recover slower. But it's the U.S's economy that will collapse not the worlds. We are the country that is running our government on money from foreign countries. Once China and other countries stop buying up our debt and start ask to pay back our loans the U.S will have to print money to pay off the nations we borrowed money from. This will hyper inflate are currency, destroying the value of every Americans dollar.Other countries that are connected with America's economy will likely take a hit but they will quickly recover because they produce and export more than they import, Unlike America.Debt is the diseases!
nouman1989Jul 27, 2009
Its the start of the end of recession ....
chupavacasJul 27, 2009
We'll revisit March's stock market lows again and soon. The direness about the economy will return and this time I think people will start to lose hope because the green-shooters will be proven wrong again.
smacksawJul 27, 2009
I still wonder about the amount of wealth that is artificially inflating the values of our houses. That's not money we're investing and using to extend credit or to help create jobs - it's money we've borrowed (or printed).No one ever talks about it, so either I'm way off base or it's too ugly a prospect to acknowledge. I seriously think we're going to need to write down all real estate or else we will fall back into recession after recession. We need to liberate our capital and let it go to work paying good wages, creating jobs, retirement funds, savings, etc. Otherwise we're just going to print money, and that just weakens our currency and increases the gap between rich and poor due to inflation. If you already have money and it becomes worth more, you win. And if you're poor and don't have any money, the finish line gets pushed father and farther back every time we see a rise in inflation.
Closed AccountJul 27, 2009
Sounds like a bad blind date....
jpdbaughJul 27, 2009
Well the rural county in Pennsylvania where I am from has a nice solid unemployment rate of %28 percent. So... there is that.
angelbunnyJul 27, 2009
recession is defined as "a period of temporary economic decline". Is current job losses in "a period of temporary economic decline"?NO