Deseret News | Weak economy forecast for 6 months

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Weak economy forecast for 6 months

K | 9:32 p.m. Jan. 12, 2009

In November they refuse to call this financial crisis a recession, and now they say we are entering the second year of a recession? How about getting our stories straight?

Anonymous | 7:34 a.m. Jan. 13, 2009

so if we took the 700B and redistributed this money to the bottom 85% of earners in the US based on household- in my estimation that would give each household about 8,000 a piece. just wondering if that would get people spending or help them get goign to that a difference would be made on the individual level. Or would it be more beneficial to give the companies the money and hope that it "trickles" down somehow.

re: K | 8:23 a.m. Jan. 13, 2009

In December, they changed the unofficial definition of a recession to reflect that fact that the economy has been bad for a long time. By the previous definition, there was no recession yet (two consecutive quarters of a shrinking economy). By the new definition, the recession stretches back to the end of last year.

When the yardstick doesn't say what you want it to say, change the yardstick.

Comments continue below

Just Hold On | 8:59 a.m. Jan. 13, 2009

Keep your spending to a minimum, don't drive as much, no new car purchases, fix up your present home as needed, buy the basics in food, watch your utilities and their costs, eat and fix meals at home, cut the kids junk food and entertainment budgets along with your own, and try to save a little money if you can. This is what we need to do if we are going to have a chance at surviving this mess delivered to us by the lying, cheating greedy, financial,big business and political leaders. Now is our chance to stick it to them, by not spending. Let businesses, and crooked greedy people go broke. It's too bad that it won't reach to real greedy ones that have been the biggest thieves.

Kevin | 9:16 a.m. Jan. 13, 2009

I think I would trust the Private economists more than this guy. The bailout is going to the wrong people. Give it to the little guy to spend. Why should detroit get money to build more cars that no one wants or can afford to buy? Give consumers cards for 8 - 10k to buy an american car. The lots are full. Building more cars is not the answer, selling more is.

no | 9:33 a.m. Jan. 13, 2009

You guys have it wrong. As a recession covers a wide period of time, officials can't simply declare a recession immediately after a downturn - it could always turn around, whether the decline is rapid or slow. After a significant period of decline (significant in terms of time, not severity), officials can determine that it's a recession and not just a temporary drop.

Sounds about right.. | 10:28 a.m. Jan. 13, 2009

Even if we had a strong economy Obama would make it weak. His stupid policies and plans have failed before and will fail again. Get used to it, it's what liberals do. Tax and or punish success, reward those who don't or won't achieve anything for themselves.

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