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Though it is a bit early it appears likely we are entering or in a recession. I don't see that as an incredibly remarkable event, we've had quite a few of them during my lifetime.
I recall at least four major recessions the past 35 years (since I started investing) and this current period seems to be falling into some of the similar patterns.
Yeah, a recession needs correction. You simply don't let it go on its un-merry way. The problem I see with this recession than any of the other recession is that there is a HIGH likelihood of going into a depression...
To be a recession, we must have 2 consecutive quarters of negative growth. Therefore, no, officially we are not in a recession. In fact, the economy is still growing, without even 1 quarter being negative.
Ok then, is the glass half empty or is the glass half full?
Yeah, a recession needs correction. You simply don't let it go on its un-merry way. The problem I see with this recession than any of the other recession is that there is a HIGH likelihood of going into a depression...
I don't see that happening, the world economy is actually chugging along at a good pace and the international interdependencies should help mitigate the downturn.
To be a recession, we must have 2 consecutive quarters of negative growth. Therefore, no, officially we are not in a recession. In fact, the economy is still growing, without even 1 quarter being negative.
Yes, but unfortunately, there are not very many people who can see their own economies going anywhere exept into the toilet. The nation can manipulate the figures any way they like, the fact is that most people, maybe nearly all of them, are now living in a personal economic depression.
Last year, wages went up 0.9% while the prices of just about everything went up an average of 4%, not even counting ballooning mortgage and skyrocketing health care. If you are an average workers and consumer, that looks a lot to me like four consecutive quarters of negative growth, and in fact there have probably been about ten consecutive quarters for most people.
Yes, but unfortunately, there are not very many people who can see their own economies going anywhere exept into the toilet. The nation can manipulate the figures any way they like, the fact is that most people, maybe nearly all of them, are now living in a personal economic depression.
Last year, wages went up 0.9% while the prices of just about everything went up an average of 4%, not even counting ballooning mortgage and skyrocketing health care. If you are an average workers and consumer, that looks a lot to me like four consecutive quarters of negative growth, and in fact there have probably been about ten consecutive quarters for most people.
I don't know if you are correct from the personal perspective, but an interesting thread you may want to consider is asking if posters are better or worse off THEMSELVES as opposed to a year ago.
Driving around Columbus, Ohio it sure doesnt look like a recession to me. Economy is flourishing here.
I was just in Charlotte for a few days, same thing. Last week I was in Atlanta, same thing.
Just like the credit card problems of the 90's when the consumers all got screwed over, now its the housing. Until our government stops the lending industry to be held accountable things will go up and down with the times.
It doesn't have to "look" like it is in a recession for you to be in a recession. Flourishing? By what standard? Government control in the lending industry LED to these problems.. they are the ones who TOLD them to let more people buy houses because they wanted MORE homeowners... thanks, but no thanks on government controlling ANYTHING anymore... the only government has on their minds is how to make money and socialized care... please leave me the hell alone, I am doing just fine..
A recession is 6 months of a decrease in the GDP, we haven't had a single month where the GDP has decreased. The growth has slowed, but by definition we are NOT in a recession.
What's more important is thinking about how we got here, and how we can prevent a further slide. To me it comes down to economics... and our politicians seem to want to put their fingers in their ears and scream 'lalalalal' like they can't hear what anyone but the Fed is telling them.
To be a recession, we must have 2 consecutive quarters of negative growth. Therefore, no, officially we are not in a recession. In fact, the economy is still growing, without even 1 quarter being negative.
Yes, the economy is growing but it is a false economy. Americans are still spending and have not stopped spending...but they don't spend real money..they spend credit. This so called huge economy we have is the largest joke ive ever come against. Americans need to keep spending money to drive our economy forward, but using credit will destroy us in the furture although right now it looks like we're moving forward.
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