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2 years? The only way we would have gotten out of the biggest recessions since the Great Depression would have been to create another bubble, something this country did not need.
You don't need economic bubbles to create recessions. Europe's bubble burst back in 2007-2008 just like America's yet they are now experience their third recession since then.
And our stock market currently has a heck of a lot of indicators that it is a bubble. As well as the student loan crisis going on in society right now. That is another bubble.
I will believe it when I see it, right wingers have been crying that we are gonna go in another recession because of Obama for years now and each year we work further out of the hole Republicans dug for us.
As you say Europe is in their third recession, yet we have only had one in that same period of time, so not sure what connection you are trying to make here.
This is true, but not due to Obama Administration, or Congressional Fiscal Policy. It is because, with all of its shortcomings, the remarkable Monetary Policies of the Fed the past six years. Look what has happened the past few months, when the EU signals they are moving toward their own version of QE. Or today, how the markets reacted to the Japanese Central Bank increasing their bond buying by 23%, (60-70 bil, to 80bil).
That is why our recovery is ahead, and why we now benefit from a move (12 - 18 months out) to a more normal rate environment.
Quote:
Originally Posted by Finn_Jarber
Yes, US recovery is outpacing the rest of the Western world by years.
I will believe it when I see it, right wingers have been crying that we are gonna go in another recession because of Obama for years now and each year we work further out of the hole Republicans dug for us.
As you say Europe is in their third recession, yet we have only had one in that same period of time, so not sure what connection you are trying to make here.
That is how all bubbles work. You don't truly realize how bad it is, or that one even exists, until it explodes in your face. You won't see it until it is too late.
If numbers do not lie, then you are required to factor in the timing and impact of the various Federal Reserve Monetary Policy the moves enacted. Otherwise figures lie and liars figure. Nothing personal intended.
But your charts are not the whole story. In fact, they are something like a supporting actress role to the lead actress' bravissama performance.
Quote:
Originally Posted by TRICITIESTITAN
Stabliziation isn't tantamount to recovery. There is a clear and observable change in our economic trajectory when the stimulus was enacted. Numbers don't lie.
That is how all bubbles work. You don't truly realize how bad it is, or that one even exists, until it explodes in your face. You won't see it until it is too late.
So what is the "bubble" that is currently going on in this country that is going to send us into another recession? Seems like no one is talking about it in here, yet you say it exists.
So what is the "bubble" that is currently going on in this country that is going to send us into another recession? Seems like no one is talking about it in here, yet you say it exists.
My bets are on our stock market and the student loan bubble. The only reason that the student loan bubble hasn't popped yet is because you can't discharge student loans in bankruptcy. If you could that crisis would have already happened.
My bets are on our stock market and the student loan bubble. The only reason that the student loan bubble hasn't popped yet is because you can't discharge student loans in bankruptcy. If you could that crisis would have already happened.
Already?
The smoke has not cleared so the mirrors can be visible.
As history shows, it should not have taken more than 2 years to get out of it(1021-1923)
We're still not out of it. Just because jobs are being created doesn't mean that all the people who were displaced during the recession have found work. I now many who have not found work. Most of them in their 50's and 60's. Some are underemployed and others have chosen to start living off of IRA's and taking SS early. From where I sit we have not recovered. I'm hoping we've turned a corner but I'm not holding my breath. When an area loses over 100k jobs per year for multiple years, it is not back on it's feet because 50,000 new jobs have been created there. There are still hundreds of thousands of people looking for jobs. What I'd really like to see is a map that compares job creation to job elimination in the last 10 years. All you have to do is drive down the main roads here to see we have not recovered. Every shopping mall has vacant buildings. We have restaurants and stores that have closed and the buildings sit vacant. Houses that sit vacant. Most of the vacant houses are occupied on my street now but we still have several. Saying the economy has recovered is like saying my neighborhood has recovered. It hasn't and won't until all the houses have people living in them. Anything less is not a recovery. This is not a recovery. Anyone who thinks it is doesn't know what a recovery looks like. When you have 100+ applicants for every engineering job opening, that is NOT a recovery. Too many highly qualified people cannot find work.
So what is the "bubble" that is currently going on in this country that is going to send us into another recession? Seems like no one is talking about it in here, yet you say it exists.
The last bubble there will be for quite awhile: government spending fueled by printed money.
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We're still not out of it. Just because jobs are being created doesn't mean that all the people who were displaced during the recession have found work. I now many who have not found work. Most of them in their 50's and 60's. Some are underemployed and others have chosen to start living off of IRA's and taking SS early. From where I sit we have not recovered. I'm hoping we've turned a corner but I'm not holding my breath. When an area loses over 100k jobs per year for multiple years, it is not back on it's feet because 50,000 new jobs have been created there. There are still hundreds of thousands of people looking for jobs. What I'd really like to see is a map that compares job creation to job elimination in the last 10 years. All you have to do is drive down the main roads here to see we have not recovered. Every shopping mall has vacant buildings. We have restaurants and stores that have closed and the buildings sit vacant. Houses that sit vacant. Most of the vacant houses are occupied on my street now but we still have several. Saying the economy has recovered is like saying my neighborhood has recovered. It hasn't and won't until all the houses have people living in them. Anything less is not a recovery. This is not a recovery. Anyone who thinks it is doesn't know what a recovery looks like. When you have 100+ applicants for every engineering job opening, that is NOT a recovery. Too many highly qualified people cannot find work.
