Bingo -- this is Obama's version. Predictably enough, the lapdog media is cheering him on when in GWB's day all they had was criticism. Typical leftist hypocrisy.
Doom on 'em.
Posted on 10/27/2009 11:29:05 AM PDT by Baladas
WASHINGTON — It's about to become official: The recession is over — but not the pain.
The government will release figures this week expected to show that the economy has awakened from its deepest slump since the 1930s and is in the early stages of a recovery. But the following week, the government will issue another set of figures expected to show unemployment continuing to rise toward and possibly above a clearly recessionary 10 percent.
How can both be possible?
The government releases third-quarter Gross Domestic Product figures on Thursday. Many forecasters say they will show GDP growing at an annual rate of about 3 percent, validating a widely held belief among economists that the recession ended in June or July.
But try telling that to the more than 15 million still unemployed, the small businesses and individuals who can't get loans and the people whose homes are worth less than their mortgages.
Assertions by government and private economists that the recession is over — issued amid graphic examples of continuing wide distress — are raising fresh questions about economic scorekeeping.
The national recession may be technically over, but the state of the economy remains in the eyes of the beholder.
Or, as Ronald Reagan liked to say, a recession is when your neighbor loses his or her job. Depression is when you lose yours.
A survey of economic forecasters prepared by Blue Chip Economic Indicators, a research organization, predicted GDP growth to remain positive in each quarter through the end of 2010. In a survey by the National Association of Business Economics, 34 of 43 economists polled said the recession is over.
"From a technical perspective, the recession is very likely over," said Federal Reserve Chairman Ben Bernanke.
(Excerpt) Read more at google.com ...
Cash for clunkers would have provided a large chunk of the rise, but don’t look for this rate to be maintained. You want to see where we’re REALLY at? Wait until Black Friday.
does anyone see any evidence of the recession being over? or even getting less severe?
The Obama Depression will continue until the regime is tossed under the bus.
It is no longer a recession recession, and Whoopie is now part of the administration...
It’s over because I say it’s over. Next subject......
I declare myself King of the Universe.
Only the most Brain-Dead Liberal Free Trader Globalist Communist Chinese George Soros Lover would claim the recession is over.
This could be the biggest BS story of the year...the recession is still quite on....
The concept of a “jobless recovery” is pretty much lost on me. I guess it means the recession is over for economists.
Dont even try figuring this out. Remember Baghdad Bob when he said “the Americans have been driven out” when you could hear the US tanks rolling in the background?
3 Percent? No way in Hades has this economy grown 3% annualized over the past quarter.
I no longer believe in any numbers from the government.
I can see the situation clearly with my own eyes.
Commercial Real Estate, anyone?
The BIG question is, what’s next?
From Farm to Factory to Office to .......
What ever is next there will be fierce resistance if it is government driven.
They’re right - the “recession” is over.
What they did’t tell ya is that NOW the “depression” starts.
Creative Accounting.
Mission Accomplished.
the bad news for the US Treasury is that there is no room for monetary expansion and no incentive to invest. Any “recovery” will be still born.
I guess it means the recession is over for economists.
This situation has created a demand for economists to tell the future of the economy. (I loaned them my crystal ball.)
The AP has gone way past absurdity and parody and is now headed into the invisible area of the spectrum.
The Media/Left hive are now a 24/7 clown show.
So, if governmental spending of printed and borrowed dollars increases GDP and brings the recession to end, why don’t they just print up another eleventy-bajillion dollars and declare instant prosperity?
They are playing with the inflation numbers to make it look like growth, but it’s not.
Bingo -- this is Obama's version. Predictably enough, the lapdog media is cheering him on when in GWB's day all they had was criticism. Typical leftist hypocrisy.
Doom on 'em.
“does anyone see any evidence of the recession being over? or even getting less severe?”
No. Once inflation hits...I don’t want to think about it.
Do you like you book, rare, medium, are well done.
what’s that smell??.....ah, yes, it must be the soiled underwear of AP Enablers suddenly coming to the realization of what they’ve done...
Assuming the statistics show “the recession is over,” it’s not surprising that employment will not quickly improve. When companies cut back on employment, they find that when orders increase not all those laid off need be rehired.
If work hours have been reduced, they can be increased without hiring a single new employee, or the existing work force can be put onto overtime until management sees that the recovery is for real and that the work force needs to be increased.
Further, because the population increases every year, in order to maintain a constant unemployment rate requires something like 200,000 new jobs a month if I recall the statistics correctly.
And this is without counting the jobs that are never going to return because they are now in China or India or ...
Lastly, no management is going to invest in new plants or workers until the changes in taxes, regulation, energy costs, etc. are better settled. Zero and his administration are destroying jobs faster than can be created just by the uncertainty.
Jack
Q: “How can both be possible?”
—AP
A: “It’s easy, when you’re me!”
—Obama
Sorry, ain’t buyin’ it.
You can't do that. I'm the Emperor of this dimension. Go find your own dimension. There is one available three over and two up.
This is more psychological bs, but why?
They want us to spend, spend, spend for Christmas....
NO HERE IN MY PARTS...
The operation was a success but the patient died.
I WORK IN THE PACKAGING INDUSTRY(sorry) and our business is down by at least 25% if not more...we have laid off and cut salaries twice this year...other companies i deal with in this industry are not seeing an upswing either...i people are out of work they don’t buy products, if they don’t buy products then packaging is not needed as producers have no restock orders.,....we are definatly in a recession and i call b.s. on any gubmint official that says otherwise....
Like a fire that is put out..only the building is still burning kind of thing.
For years, during the last administration, while we had quarter after quarter of GNP and job growth, the RATS and their lapdog media were trumpeting the worst economy in 50 years, and now, with jobs going down the toilet, “The Recession is Over! Hurrah!”
The GDP is the total dollar figure of goods and services which is then corrected for inflation to get the real change in GDP. However, I don’t think anyone has a good handle on what the inflation rate actually is with all the money being pumped into the system. Understate the inflation rate and Presto! the decrease in value of the dollar looks like growth.
The recession might be over, but not the way the way the ruling cabal would have us pretend. We might want to get used to the term “depression.” We might want to develop new terms to describe things like a deep cycle depression with hyper inflation. While the economy is dying, we can entertain ourselves with global warming policies that ignore the onset of a mini ice age, or reforming healthcare until we have no healthcare at all. But it’s all cool, because the intentions are really good — just wash your hands often, and sneeze down your shirt.
“And while she credited much of the turnabout to government stimulus measures and moves by the Fed, she said “by mid-2010, fiscal stimulus will be contributing little to further growth.””
I am so sick of this!!
Listen you retarded politicians, you can influence the masses and convince them that it’s bad when it’s good. You can’t, however, convince them it’s good when it’s bad. It just doesn’t work that way.
"Nothing is over, until we say it is!"
With a Democrat or Communist in the White House, and a compliant press instead of a 'free press', anything becomes 'possible'...
Not here at our household!
We have one of our sons and his family now living with us. He lost his job 4 months ago so had to move. He has been unable to find another job although he does some part time work delivering a few hours a week. He was delivering today to one of the local factories and they told him they are down to a skeleton staff working 3 day weeks and it is getting worse.
One of our nearby daughters is due this week, but her husband can now only find occasional work. Somehow, they have managed to hold onto their (rented) house but that is getting dicey. They are falling financially further behind every day and are almost out of resources.
Frankly, we don't need another family moving in with us. That would mean 6 adults and 3 small children (plus another baby due in March) in our 3 bedroom house.
This reminds me of my Mom's stories of living in the great Depression. Her family lived together with several relative families under one roof just to hold things together with part time work. People were sleeping on every available bed, sofa and porch swing and eating in shifts just to keep going.
On a personal level, we are quickly getting there.
So, no. This is not over. It is getting worse, at least for us.
One quarter of growth doesn’t mean a lot out of one year. Don’t these same economists expect things to turn down for the current quarter? That would make three down and one up. Hardly the definition of the return to prosperity.
Just think, if things are as bad as they seem now and continue into the new year, then we can start on a new recession.
we need a pic of Baghdad bob right about now...
Obama thinks that the recession is over when he says it’s over.
This is only year 2 of the great depression.
The resession is over and the ecomony is growing at 3% or more.
ALL HAIL KING WOBBLY BOB!
Will you name me your Chief of Staff, Court Jester, and Head Bottle washer?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.