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America's recession declared over
- Thread starter OizenX
- Start date
Geist
Smash Master
I find it amazing how they can end the recession just by saying it's over.
Why did they announce we were going through a recession in the first place? Then obviously none of this would have had to happen.
Well back to work.
Oh wait.
Why did they announce we were going through a recession in the first place? Then obviously none of this would have had to happen.
Well back to work.
Oh wait.
They're basing the announcement on data that shows an upward trend in the economy. Doesn't mean everything's all fine now and life will be fun and dandy, just means that things will get better if the trend continues.
OizenX
Smash Journeyman
Unemployment has gone up .1% and housing prices are lower then last month. I wouldn't begin to call this the end of the recession.
Trends aren't looking good, they did this as a political stunt so idiots think the people in office are doing a good job.
Namaste
Smash Apprentice
It's a private organization, not the white house, and that's not what a recession means. Recession is a slow down of economic activity. The activity increased. It doesn't matter if only 10% of the people have jobs, if those 10% do more work then the 95% or so before then technically it's not a recession.
...the conclusion was arrived at by an independent group, that doesn't have a strong bias one way or the other, whose members are respected economists. Did you even read the article? There's actually a video with many economists saying that politics are hurting the economy.
There's more data that goes into the economy than just unemployment, and the article/NBER actually said that the housing market is looking worse; however, the economy as a whole appears to have bottomed out recently and should get better from here (the GDP has recovered quite a bit in fact). They didn't rule out the possibility of a double dip recession (ie, things start getting better and then worse again).
edit: this response is to OizenX. Namaste you **** ninja
There's more data that goes into the economy than just unemployment, and the article/NBER actually said that the housing market is looking worse; however, the economy as a whole appears to have bottomed out recently and should get better from here (the GDP has recovered quite a bit in fact). They didn't rule out the possibility of a double dip recession (ie, things start getting better and then worse again).
edit: this response is to OizenX. Namaste you **** ninja
Namaste
Smash Apprentice
edit: this response is to OizenX. Namaste you **** ninja
A Pimp Named Slickback
Smash Lord
think about it this way
most Americans (especially California) are still waiting for that economic recovery to happen.
basically what the NBER did was release a huge wake-up call to the US
The recovery ALREADY happened son. This is the recovery.
Also, then NBER is pretty much THE authority in recognizing economic trends, troughs, and ups/downs. When they release information like this, there isn't much choice except to trust them since you aren't going to get more accurate information anywhere else.
most Americans (especially California) are still waiting for that economic recovery to happen.
basically what the NBER did was release a huge wake-up call to the US
The recovery ALREADY happened son. This is the recovery.
Also, then NBER is pretty much THE authority in recognizing economic trends, troughs, and ups/downs. When they release information like this, there isn't much choice except to trust them since you aren't going to get more accurate information anywhere else.
OizenX
Smash Journeyman
You don't like to believe in political scandals do you?
I'm just saying it looks extremely fishy especially because November is coming up.
Huh? We're talking the Presidential administration here aren't we? Those elections aren't until '12
GreenKirby
Smash Master
He means elections for several Congressmen.
Tomo Takino
Smash Ace
This is an independent board that has no connection to the Obama administration.
You need to have more trust in America, if there is one thing America does right, its are institutions. Our boards and professors are impeccibly pear reviewed and the chance of corruption by any reputable source is either rare, quickly called out, or easily spotted.
Also, far as I'm concerned, house prices should stay low. I don't even see why they are this high, a house should not cost 5 years wages of the average person's income.
You need to have more trust in America, if there is one thing America does right, its are institutions. Our boards and professors are impeccibly pear reviewed and the chance of corruption by any reputable source is either rare, quickly called out, or easily spotted.
Also, far as I'm concerned, house prices should stay low. I don't even see why they are this high, a house should not cost 5 years wages of the average person's income.
Namaste
Smash Apprentice
It looks more like you're willing to label any private organization that doesn't support your view as liberal, like the entirety of the world's media
Patinator
Smash Champion
Okay, this doesn't have a hell of a lot to do with the topic, but whatever.
I agree with you so much. Look here, my dad built our house in about nine months. It's a heat-efficient, two-story house. Beautiful wood floor, large bathroom, spacious, nice size, beefy construction.
It cost about... $20,000.
Most of the houses you see built only look big. You get up in the second story of a lot of houses, it's thinner than it looks. Hell, I've seen houses that are more GARAGE than house.
Oh, but they cost, y'know, $500 a month for 30 **** years. Or, if for whatever reason you have that kind of money, say... $250,000?
...Just a little something that irks me.
Rant over. Sorry 'bout that, folks.
~on topic~
You can't just arbitrarily say a recession's over. For all we know, this trend will flatline.
It's surprising how inaccurate most of your information is.
Not necessarily this post, but your statements in general when it comes to politics.
SirroMinus1
SiNiStEr MiNiStEr
Who ever believes this should be smacked in the face till there cheek starts to bleed
Life
Smash Hero
When your neighbor loses his job, it's a recession. When you lose yours, it's a depression...
-Truman (paraphrased)
...and it's a recovery when the president loses his!
-Reagan (also paraphrased)
Just thought I'd share.
@Patinator: You know what that means, right?... get a job building houses! (You know, because we're recovering and everything. ;P)
-Truman (paraphrased)
...and it's a recovery when the president loses his!
-Reagan (also paraphrased)
Just thought I'd share.
@Patinator: You know what that means, right?... get a job building houses! (You know, because we're recovering and everything. ;P)