I see this attitude on here!
- Thread starter Phantasmal
- Start date
Minister of Truth
Practically Perfect
:yermom:
klaatu
Fusionist
Yeah really ... I believe the reports that are touting the recession is over are coming from some New England Think Tank. Democrats are the ones who would benefit from this type of rhetoric. The Democrats need people to be in the state of mind that the economy is turning around.
klaatu
Fusionist
"recession is a business cycle contraction, a general slowdown in economic activity over a period of time.[1][2] During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes, business profits and inflation all fall during recessions; while bankruptcies and the unemployment rate rise."
Do you want to get into a discussion about each and everyone of these indicators?
Cancel 2016.2
The Almighty
In technical terms, the recession is over. That said, it would be political suicide to tout the anemic growth in GDP as some sort of accomplishment given the high levels of unemployment and the general fear that we could fall back off the edge.
klaatu
Fusionist
Well ..just using the GDP and its stagnant 1% ..yeah..you can claim its over. However, Unemployment, Bankrupcies, Foreclosures and Company investment spending... is still a clusterfuck ... As you said... suicdal rhetoric ....
The real story is this... all Obama had to do---> extend the current Tax Code another 2 years and he most likely would have had investment spending kick into gear....
cawacko
Well-known member
I post this only because I know Desh likes Buffett. Here is what he said on CNBC.
"I think we're in a recession until real per capita GDP gets back up to where it was before. That is not the way the National Bureau of Economic Research measures it. But I will tell you that to any, on any common sense definition, the average American is below where he was before, or his family, in terms of real income, GDP. We're still in a recession. And, and we're not gonna be out of it for awhile, but we will get out of it."
http://www.fool.com/investing/general/2010/09/24/warren-buffett-this-recession-aint-over.aspx
"I think we're in a recession until real per capita GDP gets back up to where it was before. That is not the way the National Bureau of Economic Research measures it. But I will tell you that to any, on any common sense definition, the average American is below where he was before, or his family, in terms of real income, GDP. We're still in a recession. And, and we're not gonna be out of it for awhile, but we will get out of it."
http://www.fool.com/investing/general/2010/09/24/warren-buffett-this-recession-aint-over.aspx
Minister of Truth
Practically Perfect
People tend to only argue Real GDP when they are stuck, and want to make a point anyway...
cawacko
Well-known member
This the article you are referring to?
http://finance.yahoo.com/news/CEOs-view-of-economy-darkens-rb-2128126373.html?x=0&.v=2
That's hilarious. The National Bureau of Economic Research is just "some New England Think Tank."
Let me guess, you love Sarah Palin.
We're not in a recession. We're just not. It is a specific term with a specific definition and the economic conditions we are experiencing currently do not meet that definition.
Having said that, we sure as shit are nowhere close to where we were before the recession began as this "recovery" is sloooooooow. The result is that things are looking all that much better during the recovery than they did during the recession.
True, we are however not in a growth cycle strong enough to reverse the negative effects of the recession, we are well on our way to a newly formed "lost decade" for the US as provided to us by centralized economic plans selecting specific industry to give "grants" to while never giving small business owners a sense of permanence that would allow them to be sure that if they hire people in the future they won't be punished for it by bad tax, health care, etc.. policy....
"Much Better" is exactly the foolish attitude that was in the OP. Now I see who she was talking about. The reality is the Mortgage crisis continues, too many of us are trapped in upside down mortgages from the loss of value and cannot move, unemployment remains above 9% and it doesn't appear to be getting any better...
For many, "much better" hasn't even come into the range of the radar.
Holding cash is not investment. Earnings have been up because they've fired a ton of people and are getting those left over to do their work... productivity is up with less people, earnings are up, hiring isn't...
They aren't hiring because they feel no permanence of policy to protect them from the action of government that may decide at any moment that the money they have belongs to "the people"...
We need companies to feel that they can plan a future around some sort of permanent policy, or we will create for ourselves a replica of Japan's "lost decade"... Ours, however, appears to be set to last for a longer period.
Nonsense. Truly.
Yeah, I forgot to put an exceedingly important "not" in that sentence. It should have read:
Apologies for the confusion.
Ah... Yeah, "not" is an important word there and it changes everything, I was surprised that you would be one of the people I have seen recently touting the "end of recession" to mean that things are now "better" you've never struck me as quite that ridiculous... However just saying 'nonsense' says nothing about what I said other than you don't want to listen. If you have some sort of real data that can defeat what I surmise then have at it, but just saying "nonsense" is a cop-out.
We have seen Obama touting how great those refrigerator shaped electric cars that nobody drives are uber-fantastic and part of the "new economy"...
His plan to build a "new economy" leads the government to give "grants" to companies that make products that nobody wants.