US 'Recession is over'

[Happycamper]

The American economy grew in the third quarter of 2009, which means the US is emerging from its worst recession in decades.


The economy expanded at a 3.5 per cent annual rate after contracting 0.7 per cent in the April-June period.

The economy slipped into recession at the end of 2007 and has been in the worst downturn since the Great Depression of the 1930s.

A recession is officially defined as a period when GDP falls for at least two quarters in a row, so the recovery wil not be 'official' until another quarter shows growth.

It is good news for worldwide economic prospects in 2010, despite disappointing figures showing the UK is still struggling to emerge from its longest slump since the 1950s

 

[Beezleb]

Not where I live it has not.

 

[SmogTown]

Even once all economies are out you still have to recover to pre-crash levels and that takes time.

 

[Beezleb]

I say it is also a number or level that does not truly reflect the real world reality on the ground so to speak. If it is not understood correctly as your post reads it makes it seem like things are improving to the point of noticeable improvement and that is not the fact, in reality in my state things are getting worse but some things are in the pipe line but before their is a lot more hardships and homes will be lost and more deepened into devastating debt before things improve.

Last night at a local watering hole two people said their jobs where getting lay off people/hours already cut. It certainly does not look rosy to me.

 

[Happycamper]

My post was just a copy and paste from the news, I should have said that.

I agree there is no magic wand for this situation, it's going to take a long time to recover. The person who wrote that article i'm sure would agree with that. However this is the first official indication that the US is moving out of a recession (it doesn't mean that things are still not dire)

Think of baby steps in the right direction.

 

[bluntfaced]

Because we pumped a bunch more Chinese money into our economy??


Fixed!

 

[DeepFried]

However this is the first official indication that the US is moving out of a recession (it doesn't mean that things are still not dire)

Think of baby steps in the right direction.

Budtender, I'll have what he's having

 

[Happycamper]

I'm just trying to bring something positive to everyone.

I cant help it if the official signs are you are nearly out of a recession. Just thought it was worth mentioning.

It reminds me of an old saying my father used to say. 'Don't try to teach a pig how to sing. It won't work and it annoys the pig'.

 

[Purple-Days]

TANSTAAFL

 

[macbill]

TANSTAAFL

However, sometimes at Happy Hour you can score some snacks. Just saying.

 

[Happycamper]

I guess it's because the media is set that nothing else in the world will improve until the US gets out its recession because everything revolves around the US. This is why certain parts of the world are waiting upon signs of life from your economy.

In the UK a lot of people think our situation is media driven. Obviously there were deep routed problems and the banking thing absolute nightmare. But the media made everything 10 xs worse causing the general public to have a knee jerk reaction. Well thats what the conversation usually can turn into.

So you're saying there is no such thing as a free lunch.

 

[CrazyCracker]

Things are getting better. House values are going up (at least in most areas) and stocks have been doing very well since spring. It doesn't feel like anything is getting better though because so many people are still laid off/in trouble with foreclosure.

So while the "recession" may be over there are still many people without a job and our economy is starting at a level we were at in 1999.

 

[macbill]

My understanding is that recessions are driven by 'tude, so to speak. If we are afraid we will lose our jobs, we stop spending and start saving more. Less spending across the board means fewer jobs for factory workers, less people willing to spend money at Starbucks coffee, etc, so those guys get laid off/fired. Fewer services consumed (dentists, oil change places).

It seems to me the system is too large, too complex to micromanage. Historically, there are cycles. We really haven't had a bad downturn for years. The only thing we know for sure is that it will change.

Now for the bromides. There are opportunities to be found when it goes up and when it goes down. Its the ability to be able to jump in when the gamble is good. Who else bought AIG at $1? I didn't buy a lot but my Contrarian (sp?) in me made me gamble. I lost with Wahington Mutual. But I am ahead of the game (I think).

 

[Happycamper]

Dead cat bounce?