The Recession Has *OFFICIALLY* Ended!!!

[313WX]

This thread should be interesting...

http://www.nber.org/cycles/sept2010.html

[jcole]

Great Recession Ended Last Summer, Panel Says
Recession Longest US Has Endured Since WWII
JEANNINE AVERSA AP Economics Writer
Posted: 9:42 am CDT September 20, 2010
Updated: 10:53 am CDT September 20, 2010



WASHINGTON -- The longest recession the country has endured since World War II ended in June 2009, a group that dates the beginning and end of recessions declared Monday.
The National Bureau of Economic Research, a panel of academic economists based in Cambridge, Mass., said the recession lasted 18 months. It started in December 2007 and ended in June 2009. Previously the longest postwar downturns were those in 1973-1975 and in 1981-1982. Both of those lasted 16 months.

http://www.channel3000.com/money/250...09460109202010

[Ray1936]

"National Bureau of Economic Research, a panel of academic economists based in Cambridge, Mass.,"

Y'know, it's dumb announcements like this that make me question the intelligence of academia.

In my opinion, yes, we are no longer in recession. We're in a depression. Big time.

Friggin' morons.

[Ray1936]

JCole beat you to the post, WX. But yeah, this should bring out a few thoughts from our posters!

[jcole]

If you continue on at the link I posted you will see this:

Its determination is of interest to economic historians - and political leaders. Recessions that occur on their watch pose political risks.
In President George W. Bush's eight years in office, the United States fell into two recessions. The first started in March 2001 and ended that November. The second one started in December 2007.
NBER's decision means little to ordinary Americans now muddling through a sluggish economic recovery and a weak jobs market. Unemployment is 9.6 percent and has been stuck at high levels since the recession ended.
Many will continue to struggle.
Unemployment usually keeps rising well after a recession ends. Four months after the 2007 downturn ended, unemployment spiked to 10.1 percent in October 2009, which was the highest in just over a quarter-century. Some economists believe that marked the high point in joblessness. But others think it could climb higher - perhaps hitting 10.3 percent by early next year.
After the 2001 recession, for instance, unemployment didn't peak until June 2003 - 19 months later.

[barnesfoto]

Well, on the bright side, the value of scrap aluminum seems to be rising...

http://www.scrapmonster.com/News/tab...er-2-2010.aspx

[MCP-001]

Like anything else, read the fine print:

"Any future downturn in the economy would now mark the start of a new recession, not the continuation of the December 2007 recession, NBER said."

And this gem,

"The NBER normally takes its time in declaring a recession has started or ended.For instance, the NBER announced in December 2008 that the recession had actually started one year earlier, in December 2007.Similarly, it declared in July 2003 that the 2001 recession was over. It actually ended 20 months earlier, in November 2001."

My God! I can get a more accurate report from the local weatherman, than with these so-called "experts".

[GOAT]

Technically it is and has been over. But I bet we see yet another "jobless" recovery [[good for teh fat cats adn thsoe clinging to the strands of their jobs). But how many jobless recoveries can we see before that too stops?

The recession of 1993 and the jobless recovery went on for almost 4 years before things started to hum along. This time?

[Jimaz]

I guess this might be that moment when we can say we see the light at the end of the tunnel. I'll take that as good news.

During the Clinton boom years I distinctly recall a TV discussion among economic "experts" where they were seriously considering that we may never see another recession. They thought we just might have finally learned how to control the economy. This was after the boom years had lasted far longer than predicted.

I just laughed. I thought they were pretty foolish to say such a thing on national TV.

[gdogslim]

There are three [[or more) reasons for their false study.
1. The study was paid for by George Soros to be used as Democrat Media Talking Points as reason why people should vote for libs in the next election.
2. They are trying out comedy pieces for Jon Stewat Leibowitz's - Daily Show.
3. They are smoking meth and are hallucinating.

[Jimaz]

Obama's discussing this on MSNBC right now.

[1KielsonDrive]

This is just another example of how far out of reality our politicians and academics supporting them, have ventured. I could care less about their studies and numbers. People I talk to and experience in everyday life, from Michigan to Illinois to Florida to Arizona to Washington [[not DC) and Georgia, are experiencing huge difficulties with mortgages, foreclosures, lack of jobs, no unemployment compensation, no medical coverage, etc, etc, etc. I'll bet whomever published this report made a WHOLE LOT OF MONEY from their vested interests. It's all propaganda.

[1KielsonDrive]

Obama will soon be putting the great lie out there, quoting this nonsense.

[blackmath]

I'd have to agree with Kielson. I simply cannot trust anything the media tells me. Even if its "over" we still are in a system that is bound to fail again and again. Perhaps we need to do something drastic, like offer college education for free. Having people educated without the burden of being in serious debt by the time they are in their mid twenties will really put a shock into the system. This country was founded on destroying the class system [[that is a pointless relic of social control from Europe) forever but it seems like all the powers that be want to do is perpetuate it and put a nice fuzzy spin on it. It's no better in Canada either...

[Mikeg]

This should be no surprise to anyone. Historically, by the time Congress gets around to passing a "stimulus" bill, the recession is almost or already over.

Attachment 7453
[source]

The 111th Congress passed their "stimulus" bill on Feb. 17, 2009 , which based on today's announcement, was actually four months before the recession officially ended.

[1KielsonDrive]

I'd have to agree with Kielson. I simply cannot trust anything the media tells me. Even if its "over" we still are in a system that is bound to fail again and again. Perhaps we need to do something drastic, like offer college education for free. Having people educated without the burden of being in serious debt by the time they are in their mid twenties will really put a shock into the system. This country was founded on destroying the class system [[that is a pointless relic of social control from Europe) forever but it seems like all the powers that be want to do is perpetuate it and put a nice fuzzy spin on it. It's no better in Canada either...

That's an idea that's been around for a long time. California even offered free college a few decades ago until the anti-tax nuts got a hold of it. The anti-tax nuts were less worried about tax costs than about the possible ramifications of educating citizens and the chance those educated citizens might realize what the hell was going on.

[Fnemecek]

This is just another example of how far out of reality our politicians and academics supporting them, have ventured. I could care less about their studies and numbers. People I talk to and experience in everyday life, from Michigan to Illinois to Florida to Arizona to Washington [[not DC) and Georgia, are experiencing huge difficulties with mortgages, foreclosures, lack of jobs, no unemployment compensation, no medical coverage, etc, etc, etc. I'll bet whomever published this report made a WHOLE LOT OF MONEY from their vested interests. It's all propaganda.

Except that none of those things factor into the definition of a recession. A recession is two or more quarters of declining GDP.

Unemployment is related to, but independent of, whether or not the country is in a recession.

[blackmath]

the possible ramifications of educating citizens and the chance those educated citizens might realize what the hell was going on.

-- that, to me, is really the issue here. The powers that be do not want the majority of its citizens educated, informed and independent. They see countries like France and Scandinavian countries where the finest education is totally tuition free and the government is terrified of the populace and not the other way around like it is here. You keep people ignorant and distract them by turning them against each other [[race hatred, class wars, us and them mentality) in turn you have a nice, apathetic uneducated population who are too distracted hating and not understanding each other and very easy to control.

But could you imagine the benefits? Thousands if not millions of people who would normally never get the chance to go to college would now be able to and have the opportunity to flourish. Scores of companies, ideas and innovations would result. Where I'm from, in Windsor, we used to have a high school that was devoted to skilled trades. People would go to that school and learn a skilled trade from the time they were 14 years old and when they graduated they were now fully ticketed tradespeople at 18 years of age. Many of the tool and die companies were started by former graduates of this school and it did nothing but benefit Windsor and it's economy as a whole. Best of all - it was free. You had to make good grades and it was a highly competitive environment, but that's what separates the wheat from the chaff.

To me, that is the answer to the North American economic problem. Access to education. This, in turn creates a highly skilled workforce who can demand a higher wage. Then the government can collect more income taxes if more people are working for a higher rate of pay... It just makes too much sense, but that's just my opinion...

[MCP-001]

-- that, to me, is really the issue here. The powers that be do not want the majority of its citizens educated, informed and independent. They see countries like France and Scandinavian countries where the finest education is totally tuition free and the government is terrified of the populace and not the other way around like it is here. You keep people ignorant and distract them by turning them against each other [[race hatred, class wars, us and them mentality) in turn you have a nice, apathetic uneducated population who are too distracted hating and not understanding each other and very easy to control.

But could you imagine the benefits? Thousands if not millions of people who would normally never get the chance to go to college would now be able to and have the opportunity to flourish. Scores of companies, ideas and innovations would result. Where I'm from, in Windsor, we used to have a high school that was devoted to skilled trades. People would go to that school and learn a skilled trade from the time they were 14 years old and when they graduated they were now fully ticketed tradespeople at 18 years of age. Many of the tool and die companies were started by former graduates of this school and it did nothing but benefit Windsor and it's economy as a whole. Best of all - it was free. You had to make good grades and it was a highly competitive environment, but that's what separates the wheat from the chaff.

To me, that is the answer to the North American economic problem. Access to education. This, in turn creates a highly skilled workforce who can demand a higher wage. Then the government can collect more income taxes if more people are working for a higher rate of pay... It just makes too much sense, but that's just my opinion...

Henry Ford had a similar idea and took it one step further, he paid for it through his own company.

[Jimaz]

... countries like France and Scandinavian countries where the finest education is totally tuition free....

But could you imagine the benefits? Thousands if not millions of people who would normally never get the chance to go to college would now be able to and have the opportunity to flourish. Scores of companies, ideas and innovations would result....

To me, that is the answer to the North American economic problem. Access to education. This, in turn creates a highly skilled workforce who can demand a higher wage. Then the government can collect more income taxes if more people are working for a higher rate of pay....

In the U.S. we seem to understand the value of scholarships yet we fail to understand that our current system would be more accurately labeled scholarship rationing. Why ration a good thing?

To recoup the public investment in universal education it is also necessary to prevent [[or ensure compensation for) the potential offshoring of the positions of those who received universal education.

Universal education is a human right.

[gdogslim]

If it was over in 06/2009 then why was all the spending for???? for votes ??

PS: there are no rights for people spending money on you.
Only the the right to the pursuit of life liberty and happiness.

[Bobl]

The deepest and longest recession since the Great Depression will likely be followed by a very gradual and incomplete recovery in the job market. The middle class will continue to erode.
I still like the often quoted definitions of recession and depression: It's a recession when your neighbors or brother in law loses a job, a depression when you do....

After two and a half years of unemployment and under employment, I was fortunate to find a relatively good job in late July. I just throw this out to encourage those who are in the same situation I was....

[MCP-001]

Universal education is a human right.

Anytime you compel someone to provide something for someone else involuntarily, it ceases to become a right.

[lilpup]

Anytime you compel someone to provide something for someone else involuntarily, it ceases to become a right.

What if I want to shoot you? I'm involuntarily compelled to provide you with a pass.

[Relayer76]

"National Bureau of Economic Research, a panel of academic economists based in Cambridge, Mass.,"

Y'know, it's dumb announcements like this that make me question the intelligence of academia.

In my opinion, yes, we are no longer in recession. We're in a depression. Big time.

Friggin' morons.

Over!!! It's just getting started. We ain't seen nothing yet. Last Friday it was reported that August 2010 saw the most foreclosures since the bursting of the bubble in 08.