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Not officially speaking, but from a personal opinion point of view, are we still in the "Great Recession"?
How about a double dip recession? A recession after the 2nd Depression?
(just wondering, cause I'm 'hungry' )
As you asked . . . "Practically speaking, are we in a double dip recession?"
Practically speaking -- all numbers, make-believe, charts and counting and accounting -- Practically speaking, as you say -- If you have to ask -- then you can know that we are.
Much of the Happy Days Are Here Again numbers (while screaming Ignore That Man Behind the Curtain) are good intention schemes and plans to "manage" public perception. The sincere belief from the top is that belief matters much. Sometimes more than substance.
They sincerely believe that if Good Times are Just Ahead becomes the belief, than things will follow that belief. This is the perceived power of mass optimism.
Not saying any of that is true -- just the belief system.
From my perspective actually going to the work and effort of making a better tomorrow is the best path to making a better tomorrow. But that belief is not popular in the USA.
We're in a slow recovery. The signs are out there.
I just heard a news report yesterday that many major companies are now offering 401K match again (though not as generous as perhaps they previously were).
Not officially speaking, but from a personal opinion point of view, are we still in the "Great Recession"?
How about a double dip recession? A recession after the 2nd Depression?
(just wondering, cause I'm 'hungry' )
it depends on which markets you follow. some people focus too much on one measure -- american home prices, or GDP, or unemployment, or our stock market.
Quote:
Originally Posted by MaseMan
We're in a slow recovery. The signs are out there.
I just heard a news report yesterday that many major companies are now offering 401K match again (though not as generous as perhaps they previously were).
if that's a sign of recovery, we must really be up the creek.
Watch the unemployment numbers tomorrow to see if it matches what many retailers are forecast in sales slowing.Many see the consumer hunkering down not believeing market values and employemnt not really growing.
Not officially speaking, but from a personal opinion point of view, are we still in the "Great Recession"?
How about a double dip recession? A recession after the 2nd Depression?
(just wondering, cause I'm 'hungry' )
Technically we are not in a recession at all. In reality the economy stinks and will for a long time to come. This is not just a run of the mill recession I fear but a structural change in the economy largely due to technology and globalization. Many of the better jobs that have gone away will never ever come back. Corporate profits are very high and Wall Street has had its best year in decades but for the average working people things are probably not going to get much better anytime soon.
Watch the unemployment numbers tomorrow to see if it matches what many retailers are forecast in sales slowing.Many see the consumer hunkering down not believeing market values and employemnt not really growing.
The unemployment numbers are bad but the real story is even worse. Most of the new jobs that have come are in temporary services. Few, if any, employers are adding permanent positions. Many of the temp jobs are only part time and don't pay that well either.
The people who tell you things aren't getting better mostly conclude that from the great view of the economy they get from home. They swear all that inflation is "out there", but really now is it? We are far from a return t recession and I can't believe how we are all playing out the same thing over that we saw last year. Greece was heading to the crapper, everyone was worried about Fed activity and people were sure a double dip was underway. But it only hit in the minds of those who are convinced no matter what the government is lying.
GDP is a long way from negative and most of the drag came from fear of gas prices which haven't materialized at $5 or $6 a gallon.
Not officially speaking, but from a personal opinion point of view, are we still in the "Great Recession"?
(just wondering, cause I'm 'hungry' )
The question from a personal perspective is legitimate.
Vegas Joe has given the best answer so far
Quote:
Technically we are not in a recession at all. ... This is not just a run of the mill recession ... but a structural change in the economy largely due to technology and globalization.
Corporate profits are very high ... but for the average working people things are probably not going to get much better anytime soon.
The globally uncompetitive average US worker will be in recession for many years to come, some stagnating, some in depression, while globally competitive corporations, professionals, and people with wealth who know how to invest globally will maintain, and possibly increase, their real incomes.
Then there are those in protected sectors and parasites like lawyers, politicians, higher level bureaucrats and government employees, health care industry executives, insurance industry executives in general, and, in short, those skilled at taking a bigger piece of a pie that is not growing.
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