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I know that, not yet, we're not to the point of the Great Depression, but I think we have passed up the Recession of the 1970's. Am I being overly dramatic to assume such or do you think I'm right?
You're being overly dramatic not to mention plain wrong. Just because there are some "experts" who are PREDICTING a recession in the near future doesn't mean there is one right now.
Well, after the dual busts of 2000 (dot com) and 2007 (housing), and the fact that many of the jobs created in the so-called "recovery" were minimum wage, PT, and/or temp jobs, I'd say we're still somewhat in a recession.
I think we're headed toward another bust (student loan bust I think will come next).
Well, after the dual busts of 2000 (dot com) and 2007 (housing), and the fact that many of the jobs created in the so-called "recovery" were minimum wage, PT, and/or temp jobs, I'd say we're still somewhat in a recession.
I think we're headed toward another bust (student loan bust I think will come next).
Jobs is not a metric for determining whether or not we are in a recession. So that criteria does not support your statement about us being in somewhat of a resession.
The problem is that although we're technically not in a recession the growth is so weak it feels like a recession.
People have been de-leveraging, i.e. paying off debt.
As such we're faced with the paradox of thrift. What is good for me (paying off debt) likely is bad for you because I'm not buying your goods and services.
Much of the spending to 2006 was fueled by debt, e.g. cash out re-fis on over valued houses.
It's not a recession until the government says so. I'm sure they will let us know when we are in one again. I mean, they were spot on about the last one.
It's not a recession until the government says so. I'm sure they will let us know when we are in one again. I mean, they were spot on about the last one.
Since when does the government decide when we're in a recession?
I know that, not yet, we're not to the point of the Great Depression, but I think we have passed up the Recession of the 1970's. Am I being overly dramatic to assume such or do you think I'm right?
We're not in a recession. Also, there was no Carter recession. He presided over the recovery from the prior administration's recession (Republican Gerald Ford's administration). But we didn't fully recover. The inflation and an energy crisis hit. But it was not a Carter recession. It was a Ford recession, from which the country recovered somewhat during Carter's administration. The economy grew under Carter...more jobs created than by almost any other President in history, since we'd been recording that. Deficit decreased, too. But it wasn't enough. It was the double digit inflation and the energy crisis that were the killers.
Last edited by bpollen; 04-02-2016 at 10:33 PM..
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