The Great Recession OVER?
- Thread starter Jarod
- Start date
Sammy Jankis
Was it me?
Especially yours.
The Great Recession, which rolled over our financial lives like one of P.J. Keating's giant pavers, is most likely over. Home sales, while still far below the levels of a year ago, have risen for three straight months—a first since 2004. The stock market has rallied 44 percent since March, thanks to renewed optimism and improving earnings from big companies like Goldman Sachs and Apple. In June, seven of the 10 indicators in the Conference Board Leading Economic Index pointed upward, including manufacturing hours worked and unemployment claims. Macroeconomic Advisers, the St. Louis–based consulting firm, says the economy is expanding at a 2.5 percent annual rate in the current quarter. Economic activity "will increase slightly over the remainder of 2009," Federal Reserve chairman Ben Bernanke told Congress.
Sammy Jankis
Was it me?
Jarod, you need to understand that people who work at invesment companies want people to think the market is going great so they will give them their money.
Guess what, they lie.
did you just fall off the turnip truck or something? What a bumpkin you are.
Guess what, they lie.
did you just fall off the turnip truck or something? What a bumpkin you are.
As business dwindled over the past two years, the firm laid off about a dozen people. "We definitely would have been faced with another half-dozen layoffs had we not gotten these stimulus projects," Baker says. Instead, the company kept all its remaining 300 employees, and hired five new ones. Ordinarily, a few -government-funded jobs, like traffic on Route 6, wouldn't be noteworthy. But the tableau neatly encapsulates the promise—and pitfalls—of an economy at an inflection point.
Sammy Jankis
Was it me?
Is it suprising that Goldman Sachs is doing well, considering their connectedness to the government and the bailouts they got?
you're dumber than a rock. Seriously.
you're dumber than a rock. Seriously.
I am not talking about merely the market. I am talking about a technical term called "recession".
Ben Bernakie does not work for an investment company.
Recession is a calculaton done by a group of economists, the current recession is over, that does not mean the pain is gone, it does not mean that unemployment is magically back to normal, it does not mean that we wont have some losses in the market.
Before you attack like a 6th grader, consider what I said.
Sammy Jankis
Was it me?
SO your point means nothing then? Exactly.
IT means that the worst recession in recient history is comming to an end, my question is are those who were attacking Obama three months ago if it not comming to an end now going to give him credit.
This is a very simple question. You guys are reading into what I have said a lot of things that I am not saying!
This is a very simple question. You guys are reading into what I have said a lot of things that I am not saying!
DamnYankee
Loyal to the end
Asshat ain't liberal, and he doesn't agree with Jarod. Your colorful mutation of my name along with your accusation is terrifically ironic.
Sammy Jankis
Was it me?
It doesn't mean anything. It means some companies are getting bailout and artificial stmulus.
This economy has major systemic problems. Only part of the system is considered crucial. The consumer sector, upon which 70% of the economy depends, is somehow considered less systemically important than a few bankers.
None of this will get better until this elitist lopsided view of reality is corrected.
I agree with what you just said, except that it does not mean anything. When the overall economy stops dropping.... that is a small sign of improvement.
You have a very good point that is much more braud than my origional post. (I agree with most of what you said) I would listen to you much more readily if you stoped with the 6th grade name calling out of the box.
I was merely trying to point out the small mindedness of those who were attacking Obama for the economy after he had been president for only 5 months.
These same idiots were saying how the economy was tanking under Bush and unemployment was at 5%.
When you conisder the delay, those "idiots" were clearly correct!
DamnYankee
Loyal to the end
Like you have any credibility on the issue. LOL
Sammy Jankis
Was it me?
He has done shit to improve it, except give banks more money to reward them for their failure.
I agree with that also.
My point is that if you were small minded enough to blame him 5 months in, unless you are blinded by partisenship.... you should credit him now!
Sammy Jankis
Was it me?
I don't believe he has done anything meaningful to benefit the economy. So he gets shit from me.
Again that is not the point, those blaming him felt that because we were still in recession it was his fault, now that we are likely out of that recession does he get credit?
Asshat, we know your position, the point is to see how many of those others will avoid this thread like the plague!