Oct 12, 2009 - The Recession Is Over !!! (money, claims, administration, depression)
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The fact that google picks up the news story and repeats it, and the fact that it'll be repeated by MSNBC, CNN etc doesnt make it true nor does it impress me.
heck, the NBEA charts alone say the recession isnt as bad as previous recessions..
Again, I read the story looking for facts, didnt see them. Telling me thats their job doesnt impress me either, especially considering the GDP statistics counter their OPINIONS..
Recession might be over in Canada, but here, we have not had an increase in GDP yet. You show me otherwise and I'll admit the recession is over, until then, negative GDP growth = recession, facts which I have pasted here. Paste facts other then their OPINION.
NABE® is an association of professionals who have an interest in business economics and who want to use the latest economic data and trends to enhance their ability to make sound business decisions. There are approximately 2,500 members representing more than 1,500 businesses and other organizations from around the world. Since its founding in 1959, NABE® has continued to attract the attention of the most influential and prestigious economic leaders in business. Past Presidents have included several former Federal Reserve Governors, the former Chairman of the Board of Governors for the Federal Reserve System, Alan Greenspan, and other senior business leaders.
I know all about NABE, thanks for trying. The facts in this case say they are wrong because until we have one quarter of growth in the GDP, the recession is not over.
We might get a growth this quarter, but if we do, one must calculate the government manipulating the GDP with things like cash for clunkers etc into the equation.
There isnt ONE economic indicator that is currently positive to even backup the NABE claims, let alone the GDP, the indicator of a "recession" still being negative..
I didn't suggest that the market rising was the signal that the recession was over.
Just making sure, because often times the DJIA increases because companies lay off employees thereby increasing their profits, thereby decreasing GDP and unemployment numbers. Not saying thats what is happening here because I dont follow the DJIA that closely (even though I trade for a living), but it does happen.
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