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View Poll Results: Do you believe the US is in a recession?
Yes 64 58.18%
No 27 24.55%
Not Sure 19 17.27%
Voters: 110. You may not vote on this poll

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Old 02-11-2008, 04:09 PM
 
Location: Chicagoland area
554 posts, read 2,348,642 times
Reputation: 523

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What is your opinion? Are we just facing a slowdown, or do you think we are in a recession?

If you do, why do you think so, and how severe do you think this recession will be?

If you don't, why don't you think so?

As for me, I'm not really sure. Yes, we lost 17,000 jobs (unrevised) in January, and the service sector has been contracting, but at the same time the manufacturing sector has (barely) been expanding, exports have been growing, etc.
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Old 02-11-2008, 04:53 PM
 
Location: Maryland
1,667 posts, read 8,782,002 times
Reputation: 1646
Individually, the people won't experience the recession as most people are as stable as they would be either way, and spend/save/borrow will stay the same. As a government, 5 of the 9 trillion dollar debt is to people who hold treasury bonds, savings bonds, Government securities, and such. So, it's really not as bad as it sounds, unless everybody does a margin call on the government all at once.
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Old 02-11-2008, 05:16 PM
 
630 posts, read 1,745,817 times
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Quote:
Originally Posted by ESFP View Post
Individually, the people won't experience the recession as most people are as stable as they would be either way, and spend/save/borrow will stay the same. As a government, 5 of the 9 trillion dollar debt is to people who hold treasury bonds, savings bonds, Government securities, and such. So, it's really not as bad as it sounds, unless everybody does a margin call on the government all at once.
The problem is not so much that we have 9 trillion in debt,our GDP is about 13-14 trillion and as a ratio its nowhere rear as bad as during WW1 and 2,and some other times in our earlier history,the problem is who we owe it to,notably China,Japan and the Shieks,we have previously owed large sums of money to foriegners (Britain and France),one to build the western railroads,the other to finance the revolution,good things,and both countries wanted us to suceed in our endeavours,today we owe because we are gluttons and consume on a scale that is unsustainable and borrow from people who wish us harm!
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Old 02-11-2008, 07:31 PM
 
Location: San Antonio-Westover Hills
6,881 posts, read 18,904,839 times
Reputation: 5159
No, we're in a correction, if anything.

Only time will tell if we're in a recession. People that think we are must have a crystal ball.
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Old 02-14-2008, 03:10 PM
 
Location: Hougary, Texberta
9,023 posts, read 12,245,098 times
Reputation: 10966
The term recession is defined as two consecutive quarters of negative economic growth.

Are we in a period of slow-down, sure seems like it. It will officially be a recession in about a month and a half.
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Old 02-14-2008, 03:19 PM
 
Location: South Central PA
1,562 posts, read 4,026,216 times
Reputation: 372
Quote:
Originally Posted by mikeyyc View Post
The term recession is defined as two consecutive quarters of negative economic growth.

Are we in a period of slow-down, sure seems like it. It will officially be a recession in about a month and a half.
Exactly. Except last quarter I thought the growth was like .4% or so, so we still need another 4 months...
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Old 02-15-2008, 04:26 AM
 
1,831 posts, read 4,944,902 times
Reputation: 671
I'm really surprized that people are still debating the recession at this point because it seems obvious to me that we're definitely in one. But I guess nobody wants to hear bad news.
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Old 02-15-2008, 04:51 AM
 
17 posts, read 40,396 times
Reputation: 14
The US is in a recession right now FACT
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Old 02-15-2008, 07:00 AM
 
Location: Palm Beach Gardens, Fla
1,888 posts, read 7,437,142 times
Reputation: 1556
Quote:
Originally Posted by Mom2Feebs View Post
No, we're in a correction, if anything.
I agree with that for SO many reasons....too many to list at the moment (I'm off to work in a few). My finances are fine and while I know that's not an indication of what the rest of the country is experiencing, I can honestly say I have not felt the impact of this recession. Now are we on the verge of one? Possibly. Are we in one now? No.
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Old 02-15-2008, 07:33 AM
 
630 posts, read 1,745,817 times
Reputation: 360
Quote:
Originally Posted by Prettygyrl777 View Post
I agree with that for SO many reasons....too many to list at the moment (I'm off to work in a few). My finances are fine and while I know that's not an indication of what the rest of the country is experiencing, I can honestly say I have not felt the impact of this recession. Now are we on the verge of one? Possibly. Are we in one now? No.
We are in one and face many headwinds,continuing house price deterioration,slowing job market and more importantly(you'll notice this if you food shop) rising inflation,due in no small part to the governments energy policy,i.e. Ethanol.Helicopter Ben will not save us by lowering rates,printing money only stokes the engine of inflation!Government BS's us on CPI index because thats what entitlement programs like Social Security are pegged to.
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