Is the recession really over?

#1
Do you believe the recession is really over? The stock market may be up again, but there's still at least 10% of the United States population that is unemployed. In California, the unemployment rate is 12.5%. Someone convince me the recession is over.
 
#2
It's not over, you just don't hear about it now that H1N1 is all over the news lately. and it appears until people stop believing it (or we go to Martial Law over the whole thing--what better way of bringing out that Heath Bill we've all heard about as a side-line) it will continue to be top of the news until it's replaced by the next 'we're all gonna die' cry wolf story. sheesh how many panic mongers happened in the past? let's see in the 1970s we heard about the same flu (ironic how history repeats itself, from what i researched the flu wasn't nearly as dangerous as the vaccine--only killed one person at Fort Dix) and later on it was Y2K, Y2K Leap Year, 6/6/06, Anthrax, SARS, West Nile, Avian Flu (ironic, since 'bird' didn't quite work they try blaming it on the pigs), Ebola, the 'killer bees are comin'', oh and the leader before H1N1, the big NEW Y2K, aka Conficker, which, once everyone figured out it was the world's biggest April Fool's Day joke since Microsoft, ended quickly and was equally-quickly replaced with the H1N1 scare. of course it'll go over and not be nearly as bad as Obama and WHO are making it out to be, and probably will be the biggest blunder from a US President since Bush. maybe worse. panic, itself, weakens the immune system just as does stress. maybe that's the whole thing. they want to not only force a pill-popping society, but make money by making damn sure everyone's immune systems are weak enough to need treatment from those pills.



The one part of the recession i don't understand. low gas prices. go figure.
 
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#4
You are not allowed to ask that right now. Unless and until, really we are able to reduce the current account deficit to a great extent from current levels, we are going to have a such off-beat repeated question : is the recession is over.
I wish to see that we are able to start saving much more than ever and really want to see that the whole of financial sector right from top ranked banks to investment banks to hedge funds are rehauled to the hilt to avoid any repeat of 2008 problem.

Unless, we are going to see this kind problem recurring once in every decade.
 

Orrymain

, Blogger: Orry's Orations
#5
Tonygun, that's exactly what I was going to say. That's a fresh number, just released. PLus today comes the news that the recycling program is in jeopardy because of the debt involved with the program.
 
#6
Funny newspaper print:

"City agrees to pay $250,000 to advertise lack of funds"

LOL. that's as stupid as banks who charge you fees when they know you ain't got no moneys
 
#7
Is it over? Oh far from it, in fact I think the other shoe just may drop if this holiday season does poorly. I have heard in he last 48 hours of two very large businesses that will be closing divisions in several states. This is serious stuff that no one likes to hear about.

Being a business geek I have been reading the financial news and alot of companies that were solid are doing bad. Abercrombie which has tons of retail outlets everywhere is slipping, if places like that start closing up there will be even more unemployment.

I have to laugh because they give stimulus to new home buyers, yea what good is that if you are out of work? Things still look grim, wait till americans owe in taxes because of that whole stimulus plan.
 
#9
The problem for me is the financial numbers are all over the place. The worst part is the numbers and statistics can be manipulated to look good. For example, home sales may have increased, but how much of that is a one time deal because of the homebuyers tax credit. If that's the case, then I'd expect home sales to drop again. Very confusing.
 

Piggie

Super Moderator
#10
The recession is not over. The euphemism used is "jobless recovery'. Know why? Because most of the jobs are gone forever, moved overseas. You say but this has been going on a long time so what's the deal with buying from China, etc? In a nutshell it's caught up with us.

As jobs disappeared, we ran the economy on falsely inflated real estate, stock market and money borrowed from China who deflated it to it would last longer. It ran out. Now the money is more expensive to borrow.

There are no jobs to recover. Would someone please explain where the jobs will come from? In past recessions as demand for goods decreased manufacturing jobs were decreased. When demand returned, people went back to making these things.

See the problem yet? There are no manufacturing jobs to which to return.

As people lost their manufacturing jobs (before the recession), they found work in the service industry.

I am sorry but the service industry doesn't create wealth, only when you make something does an economic system create real wealth. If you have your own natural resources even better.

So this is a jobless recovery. Wall street is on a party again, on our tax dollars. No new regulations, record bonuses due this year. Then their banks have the guts to raise credit card fees.

Mysteriously my Chase Visa suddenly went from 8.9 to 17.0 percent. I called them up and canceled the card. I guess I didn't run a huge balance, so they penalized me.

If China and others get tired of our debt, it's game over. Not sure they will do that until they stabilize their own economy to they can consume what they produce to a good degree.

Guess what? They are farther along recovering than we are and heading at least in that direction.

Hold on to your hats (and jobs) because no it's not over. There are as many indicators it will double dip as continue to get better. There are factors out of our control that could swing the cart either way.

At best with the situation the way it remains, we are doomed to have a recession every decade or so. The key to coming out of this one is to find some resource or commodity to artificially inflate. I predict it's oil and even fewer will benefit than before, very few.
 
#12
The recession may be over in paper or statistics, but it would take some time for its effects to subside. It seems that recessions have become part and parcel of life, occurring every ten years. It is something that will never be solved, not at the rate we are doing it.
 

DanMan

DTVUSA Rookie
#13
Well according to This questionnaire is the last country in the world, which will come out of recession. Apparently it is based solely on people’s opinions, but the fact, that basically 75% of 100% USA citizens think, that recession is not over yet and 17% of them think, that it will not even be over until 2-3 years, is not realistic. I have no idea, whether people have serious financial problems or they just don’t think realistically.
 

CptlA

DTVUSA Member
#14
Well according to This questionnaire is the last country in the world, which will come out of recession. Apparently it is based solely on people’s opinions, but the fact, that basically 75% of 100% USA citizens think, that recession is not over yet and 17% of them think, that it will not even be over until 2-3 years, is not realistic. I have no idea, whether people have serious financial problems or they just don’t think realistically.
Huh? 75% of 100% of Americans were polled? I think your whole statement is unrealistic.
 

Piggie

Super Moderator
#15
Well according to This questionnaire is the last country in the world, which will come out of recession. Apparently it is based solely on people’s opinions, but the fact, that basically 75% of 100% USA citizens think, that recession is not over yet and 17% of them think, that it will not even be over until 2-3 years, is not realistic. I have no idea, whether people have serious financial problems or they just don’t think realistically.
This is a little confusing to me. So you are saying that the recession is over, and the people that don't think so have financial problems or don't think realistically?
 

Tim58hsv

DTVUSA Member
#16
Mysteriously my Chase Visa suddenly went from 8.9 to 17.0 percent. I called them up and canceled the card. I guess I didn't run a huge balance, so they penalized me.
Nah.

It's happening to a lot of folks because after 2/22/10 they won't be allowed to randomly raise interest rates on current balances.

One other thing, never cancel a credit card because it hurts your credit score. I don't know why it should or would but that's the way it works. Just cut the card up, pay off the balance and never use it again.
 

Piggie

Super Moderator
#17
I am not worried about my credit rating. I own my house. I own my car and have a spare car that runs nicely. I have credit cards with my credit union that are very reasonable. I had the commercial card for a web site I was running to keep my book keeping separate. They were very reasonable until a month ago. I sent them a message even if it's just me. I know I am one and have no singular affect. But all changes happen with the one, then the many. Most people don't even need but one card and I have 3 others. 3 of them do have a zero balance 99% of the time. I only actually run a balance on one and have it set to a $3000 limit. Everytime the credit union raises my credit limit and I catch it, I call and have it reduced. Should I suddenly need $10,000 right now, I have other cards I keep zero balance that I would have those emergency funds. One of them is with the same credit union in my wife's name. Her's we keep in reserve and we use the one in my name for day to day stuff like the internet where you need a card of some kind. Nearly all of our day to day purchases are done with cash, so we know exactly how much money we have.

Part of what caused the recession was too much borrowing. People want to live like I did at 40 when they are 28. Then they never get out of debt their entire life. There is no concept of saving for a car or even just putting down half the price on a car. People don't do that. Then they figure how big a house they can buy now, based on a real estate agent telling them it's their best investment (which it can be) but buying too big so anything that disrupts their income supply brings down the house of cards, which we all just watching and are watching happening.

Tim this wasn't a rant at you so don't take anything I said personal, just stuff I think I need to keep telling people if we are to ever truly recover from the current situation, and even then it's a long ways away.
 

DanMan

DTVUSA Rookie
#18
Ok... this is getting worse and worse look at this:


do you seriously think that these results reflect the real thoughts of USA people? Almost 2000 say, that recession is not over yet. I agree with the other 400, who still have their senses and see, that this idiotic and pushed up story of a killer recession is nonsense. But people earn money on that. Come on people and come to your senses!
 

Piggie

Super Moderator
#19
I will by into the fact that the recession is pretty much over. But moreover it reset the economy and what we have now is the way it will be for several years. Call what we have now what you will.
 

Don_M

DTVUSA Member
#20
An old cliche bears remembering in times like these:
When your neighbor loses his job, it's a recession.

When you lose yours,
it's a depression.
Lots of neighbors have lost lots of jobs, and many of the unemployed have been out of work for multiple months or years. Most adults are well aware of, or related to, someone like this. It's not exactly a harbinger of great optimism.
 
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