Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The Recession is over. It ended the day your GDP passed the benchmark. Get over it already.
Economically...
Mircea
Definition for economic recession:
Web definitions:
In economics, a recession is a business cycle contraction, a general slowdown in economic activity over a period of time. During...
en.wikipedia.org/wiki/Economic_recession
Definition: The textbook definition of a recession is when GDP growth is negative for two consecutive quarters or more. However, no one really knows where this so-called definition came from or whether it is even useful. Once the economy contracts for two quarters, you've already been in a recession for awhile. That's because a recession is usually preceded by several quarters of slowing but positive growth.
There is an old joke among economists that states: A recession is when your neighbor loses his job. A depression is when you lose your job.
The difference between the two terms is not very well understood for one simple reason: There is not a universally agreed upon definition. If you ask 100 different economists to define the terms recession and depression, you would get at least 100 different answers. I will try to summarize both terms and explain the differences between them in a way that almost all economists could agree with.
Without writing me a book. Tell me how we're not in a recession. I'm an independent but I have to ask, are you working for the Obama Administration?
The difference between the two terms is not very well understood for one simple reason: There is not a universally agreed upon definition.
That part I agree with. Defining a recession according to just GDP is pedantic. And you're right, that's a whole 'nother thing that could fill up its own thread.
In awe, but not for the same reasons as others are.
1) Wealth gap. It's not been this wide since the 1929, a time we usually associate with the depression. The wealth gap is a good indicator on the health of the middle class. Typically wage stagnation contributes to the wealth gap. What we are noticing is that the rich are seeing their wages increase at a much faster rate than the middle and lower classes. Therein lies a problem. Prices of goods are increasing. Thus we have the issue of how do we maintain our lifestyles on essentially less pay? I find the dismissal of the wealth gap odd since it shows that you don't have a good grasp on current wages and general trends of the middle class.
2) Again if prices of goods go up and wages for the majority of people don't it crushes the middle class. The rich are fine, they've never been richer. They've never owned more wealth. The middle class is more in debt since they are trying to survive. Yes you can make the argument that they should live within their means. I agree. However, the data shows its things like housing, education, and healthcare that are causing debt...consumer goods are not the biggest expenditures in American households. If wages for the middle class were to rise somewhat more proportionately, this problem could be alleviated. We saw the effects of middle class debt.
3) Regardless of the fact that I just stated that I WORKED 2 JOBS, you are neglecting the fact that wages have stagnated but tuition has MASSIVELY increased. The average tuition at a UC school is now roughly 30k a year (that is including housing). At USC it stands at about 50k. These prices are outrageous for the middle class. It means that youth are saddled with debt before they buy their first house. You can't sell a degree, but you can sell a house. The alternative is to not go to college. Good, except that we do not have options for those that did not attend university. Our blue collar base is not there. Also you are making up stats related to the SAT. The average SAT score has roughly stood at 1000 for a VERY long time (or the equiv. of 1000). So you mean to tell me if you score in the 80th percentile of test takers you could not get into university? My dad didn't get a 1200 (it was lower) but he still went to the UC. If anything competition is MORE fierce now. What you stated is blatantly false (a lie).
We should increase student interest rates to make it more affordable in addition to use a test in which is repeatedly not the sole best predictor of college preparedness? What? That sounds like a disaster waiting to happen.
3) Where are you getting your housing numbers? 250k for a McMansion that is 4,400 sq. ft. ? The average new house size in America is roughly 2,300 sq. feet. and 1,500 in 1970. Let's say that Ranch is selling at the average home price in 1970 at $65300 the price per square foot is a whopping $43. Let's compare to today's averages $271,000 at 2,300 square feet. The price per square foot is thus $117 per square foot. This has been adjusted for inflation according to the census.
There is more, but I think others have posted on it.
You know for all the "young" people on here gripping about the baby boomers having so much you would think one or two would see how the baby boomers are a gold mine for them. Why don''t they start up a business or several businesses that makes the boomers their customers? Make a billion from then instead of complaining how the boomers have so much and they have so little.
You know for all the "young" people on here gripping about the baby boomers having so much you would think one or two would see how the baby boomers are a gold mine for them. Why don''t they start up a business or several businesses that makes the boomers their customers? Make a billion from then instead of complaining how the boomers have so much and they have so little.
Go get yourself some of that boomer money.
Many have (a little thing facebook, twitter, myspace). I'm just waiting to pay off debt so I'm more secure.
i dont care about how much better/worse baby boomers had it
i just hate how poorly they drive. get the hell out of the fast lane with your old ass buick going 55 mph you old geezer
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
