This is the biggest load of Bullcrap I have ever seen. Read at your own risk........
WASHINGTON (AP) - The longest recession the country has endured since the end of WWII ended in June 2009, according to a group that dates the beginning and end of recessions.The National Bureau of Economic Research, a panel of academic economists based in Cambridge, Mass., says the recession lasted 18months. It started in December 2007 and ended in June 2009.Previously the longest postwar downturns were those in 1973-1975and in 1981-1982. Both of those lasted 16 months.The decision makes official what many economists have believed for some time, that the recession ended in the summer of 2009. The economy started growing again in the July-to-September quarter of2009, after a record four straight quarters of declines. Thus, the April-to-June quarter of 2009, marked the last quarter when the economy was shrinking. At that time, it contracted just 0.7 percent, after suffering through much deeper declines. That factored into the NBER's decision to pinpoint the end of the recession in June.Any future downturn in the economy would now mark the start of anew recession, not the continuation of the December 2007 recession,NBER said. That's important because if the economy starts shrinking again, it could mark the onset of a "double-dip" recession. For many economists, the last time that happened was in 1981-82.The NBER normally takes its time in declaring a recession started one year earlier, in December 2007.Similarly, it declared in July 2003 that the 2001 recession was over. It actually ended 20 months earlier, in November 2001.Its determination is of interest to economic historians - and political leaders. Recessions that occur on their watch pose political risks.In President George W. Bush's eight years in office, the United States fell into two recessions. The first started in March 2001and ended that November. The second one started in December 2007.NBER's decision means little to ordinary Americans now muddling through a sluggish economic recovery and a weak jobs market.Unemployment is 9.6 percent and has been stuck at high levels since the recession ended.
Darn Skippy it's over! Doesn't that make you feel ever so much better?!? Doesn't that make you want to go out Christmas shopping or something??? The recession is over, good times are here again!
ReplyDeleteHey Pete I caught this at lunch on fox business.I just about choked on my food! I wonder if these people really believe this crap? Or do they think we are stupid enough to believe it if enough say it? I find it hard to believe anyone in the private sector believes this.
ReplyDeleteChina
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I got some ocean front property in Arizona,
ReplyDeleteFrom my front porch you can see the sea.
I got some ocean front property in Arizona,
You buy that, I'll throw the Golden Gate in free....
China, I was eating too and about choked myself.
ReplyDeleteMayberry: I would buy ocean front property in Arizona from you before I would buy the load of bullcrap from the Obama Group.
Man....what kool aid are these clowns drinking?
ReplyDeleteI'll bet that it is "electric".
Bob
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I just read an interesting article about that AP article. Something to the effect that there may still be a recession but that it's a NEW/second recession, not the one that originally ended last summer. So no double-dip recession, but a brand spanking new recession that just happened to come on the heels of the original one.
ReplyDeleteThat's the stooopidest thing I have ever heard. Freakin' think-tanks sitting around dreaming up a fresh new batch of nonsense to drop on us.