Posted on 09/20/2010 10:09:30 AM PDT by Nachum
Downturn lasted 18 months; longest recession since World War II
The “Great Recession” has ended, officially.
At least, that's the word from the private research organization that calls the beginnings and endings of recessions, the National Bureau of Economic Research.
The NBER said Monday that the recession which began in December 2007 ended in June 2009, which marked the beginning of an expansion. The announcement rules out the possibility of a so-called “double-dip” recession, because any new downturn would be seen as a brand new recession.
(Excerpt) Read more at msnbc.msn.com ...
D-Day: War’s over, man. Wormer dropped the big one.
Bluto: Over? Did you say “over”? Nothing is over until we decide it is! Was it over when the Germans bombed Pearl Harbor? Hell no!
Otter: Germans?
Boon: Forget it, he’s rolling.
Bluto: And it ain’t over now. ‘Cause when the goin’ gets tough...
[thinks hard]
Bluto: the tough get goin’! Who’s with me? Let’s go!
I think the numbers they use now are hopelessly corrupted by politics. I’ve seen too much about undercounting inflation and overcounting GDP. If the inflation number is off, then have we grown? Or was the growth consumed by the real inflation that wasn’t accurately accounted for. If GDP is overcounted then are we comparing apples and apples or do the tricks they use run up and down?
I don’t think that means what they think it means.
So, in 2007, when we had 6% unemployment and growth was about 1% GDP, we had entered into a recession. But now, when we have 10% unemployment and growth of about 1% GDP we are no longer in a recession. Inconsistent use of whatever definition is being used.
The attempt here is to “talk” the economy up. But the difference between this (now) and talking the economy down (2007) is that people don’t have any money to actually move the economy up. It is a real recession, not a media-recession.
Yeah...now comes the Depression....
I heard the same declaration about six months ago. It was either ABC or FOX radio news.
LOL
If the resession is over, why am I still unemployed?
Darn, I was hoping someone who was also unemployed had an answer for me!!! Oh wait, my little work from home 10 hours a week job keep me from actually being “unemployed.” bet the libtards love people like me.
LSM ridiculed him, and talked non-stop about how out of touch with the pain of the American people he was. About a month or so after he lost the election, the news reports every where were: Revised numbers show the recession had ended and the recovery started just as Bush said.
Wanna bet what the revised statistics for this recession will show? Best I remember the so called “expansion” of 2009 was simply the replacement of inventories - not new business. Wonder what kind of fudging the numbers is going on with this statistic?
Then why are so many Americans out of work? Recession ended my BUTT!
This lame research finding is so partizan and obviously deceitful, I’ve been laughing every time I heard it.
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