Posted on 04/03/2011 10:54:56 PM PDT by 2ndDivisionVet
"I don't know that I believe the recession is over."
I've been hearing that a lot lately. Over the past two years, I've typically started my presentations by asking the audience to raise their hands if they believe the recession has ended. Usually, 10 to 20 percent of the audience members raise their hands.
This past month, I've given two presentations. Both times, no one raised a hand, and some people laughed at the question.
The recession officially ended in June 2009, according to the National Bureau of Economic Research — the official arbiter of recessions. By their measures, the recession has ended: gross domestic product is growing, industrial production is increasing, and income is expanding. Employment is rising, although at a very slow rate, and the unemployment rate is slowly coming down.
Why don't most people believe the recession is over? Anecdotal evidence. They see people still struggling to find work or taking jobs below their previous salary levels. Managers are still finding large applicant pools for job openings and applicants are accepting lower salaries than they did a few years ago. Some of last year's graduates are still looking for jobs.
Some of the labor force statistics confirm the anecdotes. The unemployment rate has come down, but so has the participation rate. In other words, people are still dropping out of the workforce because they can't find jobs....
(Excerpt) Read more at 2.timesdispatch.com ...
Because no one in government ever tells the truth!
Riiiight.
And the US/Mexico border is safe, too. Right? I mean, Janet Nepolitano told us so just last week.
(rolls eyes)
Good question.
I guess then when the recession worsens due to high oil prices and $5 a gallon for gas and the inflation the dems will back pedal and claim the Bush recession never ended.
“Below these very visible signs of continued weakness, however, is an economy that is building momentum.”
If I step off the sand in Malibu, bound for DC, to be unaided and left without transportation of any sort, food and water for the trip and I was headed directly east, you might be able to say I was headed in the right direction. I would, in fact, be building momentum if I quickened my pace a little when I was a mile from the beach.
All of that would be true. And about equal in scale and proportion to the euphemism the Marxist mouthpieces continue to use in reference to “digging out” from our economic problems.
Both might be possible, but it would not be prudent to bet on either one unless the strategy was drastically changed.
She says the perception is anecdotal, then goes on to cite specific examples of proof that the recession is not over. JournalismFail 101.
With that being said, the writer answered his own question. If there is no feeling that the recession is over past the technical data, it isn't over. This guy doesn't get it.
Lenders for the most part are still out of the game. Loans are hard to come by, the loans made are lowered dollar figures (but good rates), lenders require personal guarantees, it takes 5 months rather than 30 days to fund and close, etc. We live with our credit. Many can’t get it anymore or it is at 1/4 what it was or its rate is 29% rather than 11% since they missed one payment. We’re looking at the remainder of 2011 and hopefully we’ll see a change in 1st quarter 2012.
Well unemployment remains high and there are no new housing starts.
Gas prices sky rocketed along with food prices.
IT IS A RECESSION.
Because the government is pissing on our leg and telling us it’s raining. And we aren’t so dumbed-down yet that we don’t know the difference.
This is typical BS spin and lies you will see going into 2012. There never was a recovery. He looted $6 trillion and no one knows where it went.
“anecdotal evidence?” I don’t think so. I think it’s personal experience.
It is not journalism it is propaganda which is what journalism is anyway. This will be the template for 2012. Hey Americans things are great thanks to Obama. Just watch.
This country is run by lawyers.
It’s so hard to be a loan originator now, both because of what you described plus government licensing that almost everyone has gotten out of the business. I was a VP at a mortgage brokerage 6 years ago, now I’m **this** close to being homeless.
Whatever the so called worst recession since was, ended about the time Barry was installed as our overlord. The narrative from the National Bureau of Economic Research seemed to be rather contrived and conveniently timed to enhance Barry’s performance.
But, and this is a big one. But! They continue to remind us of being in the greatest recession since the depression and so long as they say it I’m going with it.
Cuz if it’s still happening on their watch....
Who you gonna believe, me or your lyin’ eyes?
Because they're racist.
(/s - though is it really necessary?)
The “official arbitrator” is the US Government, who lent billions of our money to foreign banks with no approval; passed laws we do not want (see Dodd-Frank, ObamaCare); keeps our border porous and does nothing to deport illegals; keeps us in Muslim wars overseas and does not count food, energy or healthcare into their calculations for inflation.
The Government and Media are corrupt, we know it. We just need to get the Maggot out of the White House in 17 months.
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