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It's official: U.S. is in recession
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and | 11:07 a.m. Dec. 1, 2008
we are heading for financial ruin! so the two year supply should be more like a
four year supply!
Terri | 11:07 a.m. Dec. 1, 2008
Like it takes a rocket scientist to figure this out... I think most of us have
been aware of this even though the Bush Administration denied it.
reality | 11:10 a.m. Dec. 1, 2008
It's only gonna get worse folks
Comments continue below
itsjustme | 11:15 a.m. Dec. 1, 2008
The left in America has been saying this for years. America is NOT officially in
a recession until there are two CONSECUTIVE (read: One after the other) quarters
of negative GDP growth. So far, there has been only one quarter of negative GDP
growth. If the next quarter is negative, only then will we OFFICIALLY be in a
recession. Then the left can legitimately crow about America being in a
recession (which is what they have hoped for, for a very long time).
to: itsjustme | 11:24 a.m. Dec. 1, 2008
Actually, that is not necessarily the definition of recession. That's how
some business and investment glossaries define it, and several opinionated
people. But while citing it as the letter of the law might give you something to
fend of the "left" with, and it would be really nice for you,
it's not actually fact. Sorry.
Anonymous | 11:29 a.m. Dec. 1, 2008
It's just you. The logic of liberals wanting unemployment and being
impoverished defies rationale. You shouldn't think that because a person
can observe trends and make intelligent predictions of outcomes that the person
likes the outcome.
I told a conservative four years ago in November, Bush's reelection would serve the democrats well. This was based on watching trends.
I told a conservative four years ago in November, Bush's reelection would serve the democrats well. This was based on watching trends.
What timing!! | 11:35 a.m. Dec. 1, 2008
And that us when we sold our home of 45 years and bought a condo! Good move. Not
sorry!
RedShirt | 11:47 a.m. Dec. 1, 2008
How could we be in a recession, if by definition a recession is 2 quarters of
negative growth. We are almost at the end of one quarter of negative growth.
Technically we shouldn't be into a Recession until March.
Or, did the economists use Enron like accounting practices to get the desired results.
Or, did the economists use Enron like accounting practices to get the desired results.
Anonymous | 11:56 a.m. Dec. 1, 2008
This is not rocket science and the dirty Republicans think that Americans are
whiners. BTW, McLame said that the fundementals of the economy were strong.
blame game | 11:59 a.m. Dec. 1, 2008
Unfortunately, too many people are more interested in trying to pin the blame on
someone than actually trying to solve problems.
There are people in this country who actually wish ill on the country, on the economy, or on particular groups of people if it means they get some more power or political advantage because of the problems.
How much better we would all be if we were more interested in solving problems no matter who got the credit.
There are people in this country who actually wish ill on the country, on the economy, or on particular groups of people if it means they get some more power or political advantage because of the problems.
How much better we would all be if we were more interested in solving problems no matter who got the credit.
alskdfjasl;dfjaldksfj | 12:00 p.m. Dec. 1, 2008
A recession has always been refered as two consecutive quarters of negative
growth by economists and politians until this past year when the left decided to
change the definition to suite their needs.
They did get one thing right. The media has been saying this is the worse down fall since the depression. This article said the worse since the early 80s. This is correct. Anybody who says times haven't been this bad since the depression has forgotten the carter years when mortgage rates were in the mid to high teens, inflation was high, unemployment was high, gas prices were way, way, way higher than last year's prices in real dollars. Thank you Reagan for turning around the country by relieving the rich of high taxes.
If you think it you become it. The media has been crying recession for four years before it has happened (if you're a leftist and decided to change the definition to suite your deceitful ways).
They did get one thing right. The media has been saying this is the worse down fall since the depression. This article said the worse since the early 80s. This is correct. Anybody who says times haven't been this bad since the depression has forgotten the carter years when mortgage rates were in the mid to high teens, inflation was high, unemployment was high, gas prices were way, way, way higher than last year's prices in real dollars. Thank you Reagan for turning around the country by relieving the rich of high taxes.
If you think it you become it. The media has been crying recession for four years before it has happened (if you're a leftist and decided to change the definition to suite your deceitful ways).
K | 12:04 p.m. Dec. 1, 2008
First of all recessions are cyclical. They are perfect normal. The media has
been trying to talk us into recession for 5 years!
Really!!!!! | 12:18 p.m. Dec. 1, 2008
How stupid does the media & economic experts think we are? Everyone has
known we were in a recession for a while now. They don't have to keep
reminding us.
What a relief!!! | 12:34 p.m. Dec. 1, 2008
Thanks for confirming it!! I thought I had been imagining things for about a
year now!!
How much did our economic prognosticators earn to reveal this "breaking news"?
How much did our economic prognosticators earn to reveal this "breaking news"?
Pray, Tell Me... | 1:12 p.m. Dec. 1, 2008
... precisely what was the board's first clue that we've been in a
recession FOR A WHOLE DARN YEAR NOW?
Thanks for the information, guys--but I think most of us have already clued in by now, somehow or another.
Yet another shining example of our tax dollars, hard at work!
Thanks for the information, guys--but I think most of us have already clued in by now, somehow or another.
Yet another shining example of our tax dollars, hard at work!
whatever | 1:26 p.m. Dec. 1, 2008
Incessant government bailouts will lead to big time inflation eventually. You
think things are bad now, just wait...BTW, "Reagonomics" is outmoded,
discredited, and was designed to protect the rich at the expense of the middle
class which, by all indicators, continues to shrink to this day.
mark | 1:39 p.m. Dec. 1, 2008
No, Redshirt, the NBER did not use Enron like accounting practices to come to
their decision.
And, alskdfjasl;dfjaldksfj, no the NBER, is not a leftist organization that tried to change the definition of recession to suit any deceitful ways.
K, so you are saying because the media reports on financial matters they have been trying to talk us into a recession? And Really!!! you think the media should not report a story like this?
Pray, Tell Me. . . the NBER is a private research group. No tax dollars used.
Golly, do any of you people even know what the NBER is? I am making an assumption here, but I would imagine you all lean conservative. Maybe you guys should let the more educated conservatives post and maybe you guys should just not add to the general assumption that most conservatives are ill informed.
And, alskdfjasl;dfjaldksfj, no the NBER, is not a leftist organization that tried to change the definition of recession to suit any deceitful ways.
K, so you are saying because the media reports on financial matters they have been trying to talk us into a recession? And Really!!! you think the media should not report a story like this?
Pray, Tell Me. . . the NBER is a private research group. No tax dollars used.
Golly, do any of you people even know what the NBER is? I am making an assumption here, but I would imagine you all lean conservative. Maybe you guys should let the more educated conservatives post and maybe you guys should just not add to the general assumption that most conservatives are ill informed.
Well, Duh!!! | 2:39 p.m. Dec. 1, 2008
We've been in a recession in my family for at least 2 years. Hubby
hasn't had a raise for nearly 2 years and yet health care and other
benefits are being raised or cut all together. So technically we've had a
pay cut. Plus not to mention the cost of nearly everything costing more. Talk
about negative growth. Get real people! It's been going on for too long
with no end in sight. The day we get a raise in this family it will be a
miracle.
K | 3:02 p.m. Dec. 1, 2008
Yipee a private group had confirmed we are in a recession. Of course we still
actually haven't seen two quarters in a row of negative GDP but they are
expecting it so let's just declare it.
Tell me for the last 5 years the papers have been saying anything less than we are heading toward another recession. Duh! Sooner or later one will happen. It's hard to go 10 year without one. They usually end by the time they are officially announced under the traditional definition.
Tell me for the last 5 years the papers have been saying anything less than we are heading toward another recession. Duh! Sooner or later one will happen. It's hard to go 10 year without one. They usually end by the time they are officially announced under the traditional definition.
A Little Whine | 3:03 p.m. Dec. 1, 2008
To the mad keyboard poster: get a dictionary - there is such a word as
"worst". Expand your vocabulary please.
To mark: why does everyone have to be "guys"? Are you a girl, or are you just anti-girl?
I don't really care about either issue - I'm just a conservative protesting the election results in the proud democratic tradition of having "a little whine with that cheese" - proving once again the old saying "anyone can find something to complain about, regardless of the complaint's relative validity".
To mark: why does everyone have to be "guys"? Are you a girl, or are you just anti-girl?
I don't really care about either issue - I'm just a conservative protesting the election results in the proud democratic tradition of having "a little whine with that cheese" - proving once again the old saying "anyone can find something to complain about, regardless of the complaint's relative validity".
Truth-Sayer | 3:05 p.m. Dec. 1, 2008
The best thing to do is go into denial until the next boom---seems to work for
me.
In other words, "don't worry, be happy." If worrying could change the way things are we would all be rich.
I've been through several recessions and have to look backwards to remember them; I'm still here and still enjoying life and I've never been rich!
Keep busy doing anything but taking serious anythng but your daily life. Life is too short to waste worrying about things you have no control over!
In other words, "don't worry, be happy." If worrying could change the way things are we would all be rich.
I've been through several recessions and have to look backwards to remember them; I'm still here and still enjoying life and I've never been rich!
Keep busy doing anything but taking serious anythng but your daily life. Life is too short to waste worrying about things you have no control over!
John | 3:27 p.m. Dec. 1, 2008
Why would the "left" want to wait to call it a recession when their
pary finally wins the executive branch? Wouldn't they prefer to have
called it a recession all during the campaign to prove the "right" had
failed? I don't get it. To some people in UT, the left is pure evil and
the right is pure righteousness. What a crock!
The term recession is a BUSINESS term, not a political term. Do politicians try and use business cycles to their advantage? Of course. But the fact remains that both parties have made decisions that have staved off recessions and brought on recessions.
It's high time we stop the name calling and start focusing on which individuals are best-suited to get the ship back on course and keep it on course.
The term recession is a BUSINESS term, not a political term. Do politicians try and use business cycles to their advantage? Of course. But the fact remains that both parties have made decisions that have staved off recessions and brought on recessions.
It's high time we stop the name calling and start focusing on which individuals are best-suited to get the ship back on course and keep it on course.
McCain said one good thing | 4:25 p.m. Dec. 1, 2008
It was called putting our American Hats On
America is full of Homeland Terrorist
Most of which are in powerful positions
Obama seems to be a Man with the peoples Welfare in his heart
Be thankful this day has arrived.
Let's hope he has the chance to show the American People how much he Loves us all
We finally got a man with some EDUCATION Elected
I suggest you sit back, Shut up and watch
America is full of Homeland Terrorist
Most of which are in powerful positions
Obama seems to be a Man with the peoples Welfare in his heart
Be thankful this day has arrived.
Let's hope he has the chance to show the American People how much he Loves us all
We finally got a man with some EDUCATION Elected
I suggest you sit back, Shut up and watch
well | 4:50 p.m. Dec. 1, 2008
WE should make it official before the recession ENDS!
Don't Worry it want be ending any time soon. we have yet to see and go threw the hardest part of this recession.
Don't Worry it want be ending any time soon. we have yet to see and go threw the hardest part of this recession.
C'mon.... | 5:13 p.m. Dec. 1, 2008
Recession? At least be honest and call it what it is: The Bush Depression.
A view from above the bubble | 5:30 p.m. Dec. 1, 2008
Is it possible the release of information was delayed for political purposes?
Personally I find it more than just a coincidence that the information that we have been in a recession for twelve months was releaaed two weeks after the elction.
Information like that would have conbtributed to more of an election landslide for Obama than the one that took place.
Personally I find it more than just a coincidence that the information that we have been in a recession for twelve months was releaaed two weeks after the elction.
Information like that would have conbtributed to more of an election landslide for Obama than the one that took place.
Steve | 5:31 p.m. Dec. 1, 2008
I dont think the issue is so much whether or not we are in a recession or whose
fault it is. The question is what are we going to do about it?
DAAAAH REALLY??????? | 6:03 p.m. Dec. 1, 2008
We are in a recession and it is twelve months old? Geee, King George Bush the
II said we weren't. You mean he had MORE faulty intelligence? Or was that
LACK of intelligence?
GTO | 6:10 p.m. Dec. 1, 2008
Ever since the election, the bad news about Obama and his coming high taxes and
socialistic agenda has set the stock market into a tail spin. The day after
Obama won the election, I sold my stock because I knew Obama would tax me big
time! This is why people are getting out, they are hunkering down economically
speaking because they know that Obama's hand is going to reach deep into
their pockets! If Obama really wants to invigorate the economy, cut taxes and
see what happens! We would see the largest economic boom the world has ever
seen! I got out in time, I feel badly for those of you who didn't see Obama
coming after your wallet!
GB | 6:36 p.m. Dec. 1, 2008
It's interesting to see new definitions of "recession" emerging
lately. These definitions would have a lot more credibility if they had existed
before this economic downturn.
I'm not denying that times are tough, but the reality is that we don't yet know if we're in a recession. We do know that people who thought we were in a recession last year were wrong.
I'm not denying that times are tough, but the reality is that we don't yet know if we're in a recession. We do know that people who thought we were in a recession last year were wrong.
IF: | 7:33 p.m. Dec. 1, 2008
Pres. elect Obama states that he will be doing the same things that Pres. Bush
has been doing, what does it matter? (Tax Cuts, Bailouts, etc.)
I've said it many times on these posts, CONGRESS spends the money, makes legislation, and passes on to the Pres. bills for passage. IF there is a fault with Pres. Bush, it's that the VETO was not a more useful tool! The current financial woes have plenty of places to point blame, including many of us as individuals. The writer of this article seems to slant the story (surprise, surprise!) in a way that we should be hold only a few accountable.
Why do we care what a private group says about things? Who gave them power to declare a recession?
Do I get to gather a bunch of "similar" thinking people and have them declare that depression is next? Does that make sence? (Go ask them in Detroit)
Time and time again I read these comments and laugh at the lack of understanding of so many. It's sad though because it's easy to see why we are in the mess we're in.
BTW "I" think that it's only going to get worse!
I've said it many times on these posts, CONGRESS spends the money, makes legislation, and passes on to the Pres. bills for passage. IF there is a fault with Pres. Bush, it's that the VETO was not a more useful tool! The current financial woes have plenty of places to point blame, including many of us as individuals. The writer of this article seems to slant the story (surprise, surprise!) in a way that we should be hold only a few accountable.
Why do we care what a private group says about things? Who gave them power to declare a recession?
Do I get to gather a bunch of "similar" thinking people and have them declare that depression is next? Does that make sence? (Go ask them in Detroit)
Time and time again I read these comments and laugh at the lack of understanding of so many. It's sad though because it's easy to see why we are in the mess we're in.
BTW "I" think that it's only going to get worse!
EC | 8:23 p.m. Dec. 1, 2008
It is interesting to me how these things are reported. It's official? The
NBER can use any set of criteria they want, and if they are applied
consistently, and reported consistently, I have no problem with it. There is a
problem, though, when the NBER criteaia are considered "official"
during administrations of one party, but the traditional "two consecutive
quarters of decline in the GDP" are considered official when the other
party is in power. That is a problem of reportage, not of criteria. As I
recall, we had an official recession triggered by the tech bubble at the end of
the Clinton administration using the traditional criteria, but there was little
reported about it in the MSM. It is also faulty to state that a recession is
about a family, a business, or even a sector of the economy, although to
individuals, these may feel like a recession. If that were the case, someone is
always in a recession. I have been in a personal recession the past three years
because poor health required me to retire before I was ready. But I certainly
can't blame President Bush for that.
Gretzky | 8:52 p.m. Dec. 1, 2008
since we were in a recession when we were in an economic downturn, i surmise
that we are actually in the beginning of a depression. and it's all
Obama's fault as of January 20, 2009 at about 1pm EST on day after MLK day.
Outstanding.
mark | 12:32 a.m. Dec. 2, 2008
If: says, "Time and time again I read these comments and laugh at the lack
of understanding of so many."
Right before this If: said, "Why do we care what a private group says about things? Who gave them power to declare a recession? Do I get to gather a bunch of "similar" thinking people and have them declare that depression is next? Does that make sence?"
The irony is thick.
But really people read up on what the NBER is, many of you are sounding very, very ill informed.
(Oh, and A Little Whine, I use "guys" as kinda non-gender specific. I hope I did not offend your fragile sensibilities.)
Right before this If: said, "Why do we care what a private group says about things? Who gave them power to declare a recession? Do I get to gather a bunch of "similar" thinking people and have them declare that depression is next? Does that make sence?"
The irony is thick.
But really people read up on what the NBER is, many of you are sounding very, very ill informed.
(Oh, and A Little Whine, I use "guys" as kinda non-gender specific. I hope I did not offend your fragile sensibilities.)
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