Recession officially over

  • Posted by a hidden member.
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    Sep 20, 2010 4:41 PM GMT


    Now let's hope for a nice, long gap before the next one...

    http://www.boston.com/business/articles/2010/09/20/economic_panel_says_recession_ended_in_june_2009


    WASHINGTON—The longest recession the country has endured since World War II ended in June 2009, a group that dates the beginning and end of recessions declared Monday.

    The National Bureau of Economic Research, a panel of academic economists based in Cambridge, Mass., said the recession lasted 18 months. It started in December 2007 and ended in June 2009. Previously the longest postwar downturns were those in 1973-1975 and 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 of 2009, 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.
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    Sep 20, 2010 5:05 PM GMT
    They can say whatever they want but we aren't out of the woods yet.
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    Sep 20, 2010 5:40 PM GMT
    No, not out of the woods by any means. We could easily slip back into recession... in fact, just because one ended a year ago doesn't mean that another hasn't started more recently. It takes many months for the group to make a declaration.

    Also, just my opinion, but there are many engines that drive our economy. I don't think that the federal government is ever solely to blame for driving us into a recession any more than it's solely responsible for getting us out of one. Businesses, consumers, investors, the rest of the world, the natural environment, and state and local governments carry the burden as well. So partisan blame is the easy part of the debate.

  • rnch

    Posts: 11525

    Sep 20, 2010 6:46 PM GMT
    southbeach1500 saidCongratulations to the economy in coming out of recession despite all the government meddling.

    Had it not been for President Obama and the Democrats, the recession would have ended sooner and the recovery would have been stronger.



    "denial" is not just a river in egypt. icon_rolleyes.gif
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    Sep 20, 2010 7:55 PM GMT
    southbeach1500 saidCongratulations to the economy in coming out of recession despite all the government meddling.

    Had it not been for President Obama and the Democrats, the recession would have ended sooner and the recovery would have been stronger.



    TOTAL BS.

    The recession ended a mere 5 MONTHS after Obama took office.
    That is fucking IMPRESSIVE.
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    Sep 20, 2010 8:06 PM GMT
    rickrick91 said
    southbeach1500 saidCongratulations to the economy in coming out of recession despite all the government meddling.

    Had it not been for President Obama and the Democrats, the recession would have ended sooner and the recovery would have been stronger.



    TOTAL BS.

    The recession ended a mere 5 MONTHS after Obama took office.
    That is fucking IMPRESSIVE.

    Incredible and totally amusing view of history.
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    Sep 20, 2010 8:11 PM GMT
    socalfitness said
    rickrick91 said
    southbeach1500 saidCongratulations to the economy in coming out of recession despite all the government meddling.

    Had it not been for President Obama and the Democrats, the recession would have ended sooner and the recovery would have been stronger.



    TOTAL BS.

    The recession ended a mere 5 MONTHS after Obama took office.
    That is fucking IMPRESSIVE.

    Incredible and totally amusing view of history.




    ...to Republicans who have been brainwashed into believing a self-serving partisan-biased and phony rewriting of history by the right-wing propaganda machine, and who actually believe (LOL!) that the Bush recession isn't Bush's fault.
  • Timbales

    Posts: 13993

    Sep 20, 2010 8:13 PM GMT
    don't they keep saying to try and get people to spend more money?
  • Webster666

    Posts: 9217

    Sep 20, 2010 10:46 PM GMT
    southbeach1500 saidCongratulations to the economy in coming out of recession despite all the government meddling.

    Had it not been for President Obama and the Democrats, the recession would have ended sooner and the recovery would have been stronger.





    A) You're full of shit, as always.
    B) The recession is not over, because unemployment keeps rising, and more and more houses are being foreclosed.
    C) We've gone from being in a Republican recession to being in a Republican Depression.
    D) See "A"
  • Posted by a hidden member.
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    Sep 21, 2010 12:41 AM GMT
    Instead of focusing on the negative, let's set our homepage to the following:

    http://positiveeconomicnews.com/

    Feel free to do it BEFORE the election. icon_razz.gif
  • Posted by a hidden member.
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    Sep 21, 2010 2:05 AM GMT
    jprichva said
    socalfitness said
    rickrick91 said
    southbeach1500 saidCongratulations to the economy in coming out of recession despite all the government meddling.

    Had it not been for President Obama and the Democrats, the recession would have ended sooner and the recovery would have been stronger.



    TOTAL BS.

    The recession ended a mere 5 MONTHS after Obama took office.
    That is fucking IMPRESSIVE.

    Incredible and totally amusing view of history.

    I know, I know. To Tree Forters words mean whatever they choose them to mean.

    However, by the standards economists have always used (two consecutive quarters of growth), the recession did in fact end. The jobless rate has always lagged recessions. But you don't care about facts, do you.

    You missed the point. The issue was not whether the recession technically ended, it was the cause that was implied, specifically, that Obama being in office for 5 months was the factor, or even a significant factor.
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    Sep 21, 2010 4:12 AM GMT
    socalfitness said
    You missed the point. The issue was not whether the recession technically ended, it was the cause that was implied, specifically, that Obama being in office for 5 months was the factor, or even a significant factor.


    Actually, YOU and SB are missing the point. How can Obama be responsible for a recession that not only began nearly two years before he became president but officially ended 5 months into it?

    Oh, I know, it's because Bush caused it!
  • Webster666

    Posts: 9217

    Sep 21, 2010 4:29 AM GMT
    Christian73 said
    socalfitness said
    You missed the point. The issue was not whether the recession technically ended, it was the cause that was implied, specifically, that Obama being in office for 5 months was the factor, or even a significant factor.


    Actually, YOU and SB are missing the point. How can Obama be responsible for a recession that not only began nearly two years before he became president but officially ended 5 months into it?

    Oh, I know, it's because Bush caused it!





    Yeh, yeh, that's the ticket !
  • Posted by a hidden member.
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    Sep 21, 2010 12:08 PM GMT


    I think it was the fault of the Federalists. Who is this Ben Franklin guy telling us that a penny saved is a penny earned??? How is that possibly good for the economy???

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    Sep 21, 2010 12:13 PM GMT
    I thought it was the Puritans:
    http://www.answers.com/topic/a-penny-saved-is-a-penny-earned
  • Timbales

    Posts: 13993

    Sep 21, 2010 12:51 PM GMT
    I think it's the fault of having an economy based on future consumer spending.
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    Sep 21, 2010 1:42 PM GMT
    q1w2e3 saidI thought it was the Puritans:
    http://www.answers.com/topic/a-penny-saved-is-a-penny-earned


    Yea, well... they also burned and hanged "witches."

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    Sep 21, 2010 6:52 PM GMT
    mocktwinkie saidThey can say whatever they want but we aren't out of the woods yet.


    But what they say can be a self-fulfilling prophecy to some people. I'm sure enough companies will read this and say, "ok now is a good time to buy instead of hoarding all this money up."
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    Sep 21, 2010 7:33 PM GMT
    southbeach1500 said
    rickrick91 said
    TOTAL BS.

    The recession ended a mere 5 MONTHS after Obama took office.
    That is fucking IMPRESSIVE.


    So what did Super-Obama do in the first 5 months to end the recession?

    obama_super_obama.jpg



    He passed an economic stimulus bill that injected cash into an economy that was in a deep recession and that was sinking fast after 8 years of failed Bush/Repub economic policies.
  • Posted by a hidden member.
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    Sep 21, 2010 8:15 PM GMT
    Bush recession, Obama recovery.

    Thank you, Mr. President.



    And fuck you, Gingy.