World Events
Topic: The Recession is Over!

#	Author	Message
1	Sport Goofy Thu 10/29/2009 3:15p	A 3.5% rise in quarterly GDP has economists declaring an end to the great recession. I'm not entirely convinced. However, I find it interesting to listen to some of the idiots on TV talk about this news. Out of one side of his mouth a conservative commentator criticizes the Obama administration for enacting a stimulus that is doing absolutely nothing to help the economy, but then immediately switches to a talking point about the GDP figure stating that it was all due to cash for clunkers, first-time homebuyer rebates, and government bailouts that are an anomaly. So, which is it going to be -- either the stimulus doesn't do anything for the economy or it contributes to GDP growth? You can't have it both ways.
2	fkurucz Thu 10/29/2009 3:22p	I think that the GDP was temporily juiced by the stimulus. Does this mean the the recession is over, or do we have a double dip in store? I'm inclined to believe the latter.
3	SingleParkPassholder Thu 10/29/2009 4:28p	"I think that the GDP was temporily juiced by the stimulus. Does this mean the the recession is over, or do we have a double dip in store? I'm inclined to believe the latter." Color us shocked.
4	mawnck Thu 10/29/2009 4:38p	>>Color us shocked.<< Wait until you see the double dip!
5	SingleParkPassholder Thu 10/29/2009 6:15p	I've never professed to be an economic expert of any kind, but I could just never exist day to day with an outlook that's so full of doom and gloom. I know things are still tough, I see it every day at work, and I don't the recession is over, either. But to be such a pessimist, to be so negative, no matter what indicators are cited, count me out. If there was ever a chance to be a self-fulfilling prophet, nmaybe this is some people's chance.
6	Mr X Thu 10/29/2009 6:32p	And in further developments, Japan's job situation has improved somewhat. It's funny how, like before the crash everyone would ignore bit after bit after bit of bad news, at this point it seems like some are hell bent on just the opposite. I'm still concerned, of course, and I'm not claiming any special knowledge of whether *this* is over or not, but I will say many of the indicators are looking up these days.
7	Princessjenn5795 Thu 10/29/2009 6:58p	Recession has a specific definition. If the economists are saying the recession is over, it probably does not mean that the economy is no longer in a tough spot, only that the definition of recession can no longer be met. Are we completely out of the woods? No. Are things slowly getting better? Yes.
8	Mr X Thu 10/29/2009 7:03p	It has to do with the GDP, PJ. Two consecutive quarters of negative growth = "recession", when the growth begins anew, it's the end of the recession. But that doesn't mean things are peachy. It just means perhaps things will improve from that point on (we hope).
9	ecdc Thu 10/29/2009 8:01p	Post 5 nailed it for me.
10	DAR Thu 10/29/2009 8:13p	It's over, so now what.

All times are Pacific Time (US)

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