Economy UP

“but what about rosey's neighbor?...isn't that an indicator of the economy?”

“There does seem to be an element of the 24-hour news cycle talking everyone into a recession.

True, we're not in one yet, but a slide from 5% to 0.6% is a hefty slump - and it'll be interesting to see where Q1 ends up this year.

Trouble in diagnosing a recession is that because economic data can be slow to get out we could well (hopefully) be out of it by the time we realized we're in one.

What is it, two quarters of decline is the official definition?”

“Of course the White House is going to say we are not in a recession.

http://recession.org/”

“They think the economy is worse for others than it is for themselves?


http://www.quinnipiac.edu/x1322.xml?ReleaseID=1146


Y2, I think it is two quarters.
last edited: 2/28/08 9:17:53 AM”

“Of course the White House is going to say we are not in a recession.

LOL, of course, they wouldn't want to lie

The Current US unemployment rate is at 5%, a decade high.
Sub-prime housing, credit, oil & dollar crises are all signs of a severe economic recession in the United States in 2009.

they're making predictions for 2009??!!...that's gotta be the biggest doomsday website i've seen in a while
last edited: 2/28/08 9:19:47 AM”

“Goldman Sachs became the latest Wall Street firm to predict that the U.S. economy will drop into recession this year, saying the Federal Reserve will have to cut interest rates to 2.5 percent by the third quarter as a result.

"Over the past few months, we have become increasingly concerned that the US housing and credit market downturn would trigger not just a growth slowdown and substantial Fed easing -- our long-standing view -- but also an outright recession," Goldman Sachs said in a note to clients Wednesday. "The latest data suggest that recession has now arrived, or will very shortly."

The recent rise in unemployment is particularly worrisome, Goldman indicated.

Merrill Lynch North American Economist David Rosenberg said the U.S. had entered its first-blown recession in 16 years. Rosenberg has been calling for a consumer recession since the third quarter of last year, but after Friday's payroll numbers, which showed unemployment had ticked up to 5.0%, he called for an outright recession.

"Friday's employment report confirmed our suspicions that the economy was transitioning into an official recession toward the end of last year," Rosenberg said in a research note on Monday.

Goldman's prediction calls for the recession to "last 2-3 quarters" and it "should be relatively mild by historical standards, with a cumulative decline in real GDP of only about 0.5 percent (not annualized)."”

“If someone would loan me 10 trillion$, I give it to that nice Bush fellow and he'd fly me out to land on a carrier deck in celebration.”

“sometimes i think some people WANT a recession...the congress, senate, and white house all agree that the economy is slowing and that there's a posability of a recession and they are acting on it...but to some people it will never be enough or fast enough”

“The funny thing is, it's all happened on King George's watch! Geeze!!!!!

World Class Loser.”

“Oh yeah, I want my neighbors starving. Uh huh.

No, I am PISSED OFF.”

“So you and your friends should pool your money together and go bail out your neighbor. That's what caring neighbors do.”

“Gee noncom, I hadn't already figured that out. Good thing you're around as my moral compass...”

“I aim to please.”

“Then split!”

“If there is a recession, it's Bill Clinton's fault.”

“he should have seen this coming and ran for one or two more terms”

“Can't---too many others need my help.”

“True, we're not in one yet, - y2


In that case ... DAMB the president for saying "THERE IS NOT A RECESSION HAPPENING." That bass-turd Bush! He's evil!”

“LOL, but if and when one does hit they'll go back and drag that out and say "Bush lied about the recession"”

“That's Bill Clinton's fault too.”

“Well the thing is it depends how we term it. We probably saw a contraction in November in December assuming that we didn't drop off a cliff in October after bountiful growth in the third quarter.

There's also the prospect that we could see continuing contraction in Jan and Feb, and March for that matter.

We could well already be in a recession, the toruble is, it always takes a while to find that out.”

“It takes even longer for the right.”

“Failed businessman = failed economy.

Where's the surprise? None really.”

“So what should we expect from Never Been a Business Man/Woman?”

“Bush is the antei-chreist and because Clinton didn't bomb Tejas when in office, the rest of us will have to eat flour tortillas until camels come to plow the corn fields in between the abandoned ethenol stills and the fault's all Bills.”

“I am starting tothink maybe salebored, uncliff AND MarvinGardens are the same.

Heh. I like ur post tho, sale.”

“There's that phrase again....'culture of corruption'.   Deregulate and they run wild.   Anything to make a buck.  You cannot call them 'criminals' if you make sure there are no laws to break.....   like George and his waterboarding.

And what are we left with?   Politicians making excuses and the scuz who caused the problem shouting from the rooftops that we don't need any 'knee-jerk legislation'.

Again.

”

“You cannot call them 'criminals' if you make sure there are no laws to break.....

There's another thing you can't call them by overregulating them. ..... "free"”

“OJ is!”

“Recall the Resolution Trust Corporation.....”

“The writer's strike almost sent the economy over the edge.”

““The writer's strike almost sent the economy over the edge.”
bacpac

Now that's funny!”

“It's interesting that the doomsday website mentioned unemployment at 5% being a decade high. Someone needs to check those facts.”

“To whom should we give credit for the many years in the past decade when the economy was doing well?”

“me”

“The writer's strike cost billions.”

“LOL...recession is when there are two successive quarters of zero or negative growth...UM at least that was what we learned in High School Economics....”

“DAMB Bush anyways!!”

“Then go back and slap your high school economics teacher.

The NBER (National Bureau of Economic Research) determines when recessions begin and end.”

“LOL!

So do they determine when there is a recession in Sweden?”

“The George Bush economy was built on shifting sand.   How much longer can we continue to borrow from the Communist Chinese?”

“Q: The financial press often states the definition of a recession as two consecutive quarters of decline in real GDP. How does that relate to the NBER's recession dating procedure?

A:: Most of the recessions identified by our procedures do consist of two or more quarters of declining real GDP, but not all of them. According to current data for 2001, the present recession falls into the general pattern, with three consecutive quarters of decline. Our procedure differs from the two-quarter rule in a number of ways. First, we consider the depth as well as the duration of the decline in economic activity. Recall that our definition includes the phrase, "a significant decline in economic activity." Second, we use a broader array of indicators than just real GDP. One reason for this is that the GDP data are subject to considerable revision. Third, we use monthly indicators to arrive at a monthly chronology.

Q:Could you give an example illustrating this point?


http://www.nber.org/cycles/recessions.html”

“It would appear that the Axis of Idiots is relying on the definition of a recession used by the MSM.

How deliciously ironic.”

“Rev ... so who gave them the authority to be the only ones to determine if there is a recession? You?

Do you think they are the only ones who have the authority to define it?”

“Yeah. This is the world according to SARGE we're dealing with here, dammit!”

“That makes no sense. My whole point is to say the world isn't defined by one source, which is contrary to what Violin is saying.

Were you being ironic roseymonster?”

“Designed by a bunch of know it alls,
you're standing in the place, when it fails, it falls.”

“Pretending as much to be unbiased,
you're standing in crap that's the highest.”

“i will not eat them sam i am”

“So, is a recession when there is smaller growth, or smaller total output?”