What is the deal with all this talk of RECESSION: PART 2 ?? Where??
WITH THE SOURCES YOU ALL REQUESTED BELOW!
Do you know what a recession is?
George Bush brought us out of a real recession! Our economy is f-in awesome!! Greatest story never told!
74 straight months of economic expansion!!!
5 percent unemployment!! (Essentiallty full employment!)
Worker wages have risen 3.8 percent over the past year, a full percentage point ahead of inflation!
Growth in total compensation for the entire workforce is rising at a 3.3 percent pace after inflation!
U.S. productivity surged 6.3 percent in the third quarter of '07!!
Business inflation has come down from 3.5 percent a year ago to 1.5 percent!!
U.S. household net worth just scored a new record high of $58.6 trillion, with financial asset gains outpacing the drop in real estate values!!
Husehold wealth has increased 43 percent in just the past five years, despite $100 oil, $3 gas and the sub-prime infection!!
Recession!?? Are you for real
dnbott...Larry is the man! That being said, I choose optimism over pessism! If you say recession long enough, everyone will believe it!
elk571 ..... 5% unemployment is historically low!! I don't give a rats *** about other countries. The economies of most U.S. States individually exceed those of many other COUNTRIES!! 5% Unemp was just dandy when Clinton was in office, no?
And you can cram you Econ 101 book in your pie hole! This is the real world! What do your friends investment banks closing have to do with RECESSION?? When bad investments are made, you get bit! Thats a correction in my book!
And percentage of U.S. homeowners are foreclosing??? Less than 1%? What percentage of mortages are Sub Prime Mortgages?? 8%? And less than half of foreclosures are Sub Prime? Big Deal?
Hey people: Don't buy more home than you can handle!!
elk571....So your summer trip to France is going to cost you more??? Too bad. Ask U.S. exporters how they feel about the value of the U.S. dollar.
- AnonimoLv 51 decade agoFavorite Answer
Woah! When you watch Kudlow & Co. you're supposed to listen to all of the experts, and not just Larry.
I wouldn't say we're in a true recession, but we are tipping the ice berg. You can't always depend on the old "beyond two consecutive contractions" definition, but there hasn't been 74 straight months of expansion- my God have you notice the downfall of the housing crisis? At all? Suburbia is running around like a headless chicken, and retail sales are lagging behind real GDP growth, probably linked to the indirect factors of fuel costs that aren't excluded.
And if you really don't think we're in a crisis, take a look at the investment bankers. They're all falling. Citi is barely making ends meet- and they had to get the fed to save them. And look at how many of this particular market's directors either stepped down or where fired over the past 8 months. The only exception is Goldman Sachs, they're at record high profits, and if you take note at what they're doing differently, it's not getting cought up in the credit mess. Especially sub-prime lending and equity crisis.
And as far as Bush saving us from a previous recession- I beg to differ. Most experts had agreed that if 9/11 never occurred, the recession would have only been a slight cooling of the 90's bubble, but chaos three blocks away from Wall st. certainly took its toll. Then they said that the 9/11 impact went on further than it should have. In all honesty, I think the war in Iraq artificially stimulated growth, which probably explains why the expansions alternated with the contractions just slightly more, enough to hold us over until the credit crunch.
And you need to cite your sources. I know I was to lazy, but I'm doing you a favor. You asked the question.
- 1 decade ago
Well gee let's start w/ the fact that the housing market is dead, and the investment/banking companies are closing left and right (this is a fact, it's what everyone I know does for a living, or used to do before they CLOSED) and then let's talk about the fact that the dollar is worth basically nothing if u try to exchange it in any other country in the world! So yes, we're in a recession. As for your "sources" above, it's the same thing they did w/ the gas ceiling decades ago, they're doing these things to try to save us, not b/c we're doing well. Oh yeah, and your 5% employment is actually cosidered BAD. Read an econ book, what they consider full employement is below 3%! And then compare that to other countries and you'll see 5 is high...
- weyrauchLv 43 years ago
earlier there should be recession the commercial device has to slow. A recession being 2 straight away quaters of adverse strengthen contained in the GNP. W, did not pull us out of a recession, he positioned us in a unmarried immediatrly after he took workplace with his tax reduce to the wealthy. This took a wide volume of money out of the econmy funds that became being spent. larger Oil prices are a drag on the econmy the wide W conflict defecits yet his tax ruin for the wealthy reducing revnues an dthe conflict increasing expeditures, Th edefecinets have a upward impact on interst prices. larger interst prices have a tendency slow the commercial device, because that maximum initiatives are financed,ie, funds is borrwed to do them. larger inter prices ability fewer new initiatives. obviously to W's consituaincy this suggests not some thing, if prices are low the bower if prices are extreme tehy lend they win eaither way, because hi they are wealthy. so that you've the double wahmmy of a sloing econmy through larger enegy prices, --each and every thing movces is heated is coold by technique of follsil fuels, platices are made from them it ripples thoreugh the commercial device = larger prices a lot less of a favor to spend a lot less atactive our products are overseas places the rigidity is to decelerate, coupled wiht the deficts that is rigidity to strengthen interst prices which will sooo issues down. so a strategies the fed has not given in to the rigidity and is loweinr prices to keepo issues going. that is sturdy and likely will artwork with or with aout a economic stimuls, monteray poplicy continually truming economic coverage. So, see you later because the fed is willin were given bypass adverse to the grain, it really is going to be sturdy, in spite of the undeniable fact that it ought to help if oil prices ought to stablizes even come down a touch, and revues ought to increse to reduce the defict really. i'm not massive on endeing ht ewar becasue i imagine that deliver s the incorrect m,essage to terrorists, yet hi if we are gonna be ther we could continually get more suitable oil prices outts the deal too. i imagine the sudi's are fiddling with us, also we've outsourced a lot artwork that places like india are beinging to incresinly call for oil --- outsorcing is undesirable. The numbers you reveal are wonderful, yet remeber those are literally aceint history, what's the econmy doing or gonna that is major not what it has already finished.
- Anonymous1 decade ago
According to polls, the top issue for democrat and republican primary voters is the ECONOMY! Second is the Iraq War.
74 straight months of economic expansion??? Hello??? We have had plenty of days when the economy took a pitfall.
And what about the millions of manufacturing jobs lost? And what about the unbelievably high price for gas?
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- Arcanum NoctisLv 51 decade ago
A recession is coming? Noooo, we are already in a recession. So what is coming? A great depression.
- Anonymous1 decade ago
there is absolutley no question we are in a recession
- curious115Lv 71 decade ago
so...ah...where you getting your drugs?