The xXx Gloom & Doom Report

[old fashioned]

This article says the recession has been officially over since June 2009.....REALLY??????

http://www.msnbc.msn.com/id/4483992...sion-officially-over-us-incomes-kept-falling/


I always thought 'recession' meant high un(der)employment, higher cost of goods, & overall financial crisis (more going out than coming in) both public and private, roller coaster stock markets, etc. Isn't that what's been happening for a few years, still going on & will probably only get worse in the coming future???? According to this story, even the President has said the lower incomes of the people are a 'financial emergency'...wouldn't that be included in 'recession'?
I'm confused, especially since the news has been so full of it's own brand of 'doom & gloom' of not only the US's, but Europe & the world at large's financial economic crisis'.
Am I really missing something here? Or did all the 'quantative easing' actually get us out of said recession? Please explain...

 

[abifae]

ROFL NY Times had an article today declaring the recession was over, too.

WTF?

http://www.nytimes.com/2011/10/10/us/recession-officially-over-us-incomes-kept-falling.html

 

[moolie]

The definition of a recession is "A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters".

It is over, by that definition, and was even shorter here in Canada.

The jobless rate, inflation, and other financial issues are directly related to the response to the recession.

 

[i_am2bz]

Just to add to the scariness...John Williams of shadowstats.com was just on GB. According to him, the real rate of inflation (using the method used during the '80s) is actually 11.4%, not the 3.8 % reported by the gubmint. And the real unemployment rate is more like 23%, not 9%.

Forget investing in gold, I think I'm going to stock up on Prilosec.... :/

 

[old fashioned]

The definition of a recession is "A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters".

It is over, by that definition, and was even shorter here in Canada.

The jobless rate, inflation, and other financial issues are directly related to the response to the recession.

So according to that definition.....we've had increased trade & industrial activity since 2009??? If so, wouldn't that mean more jobs, productivity and overall money flow? I'm sorry, but I'm not seeing that happening.
Moolie, please don't take this as a personal jab at you, I'm just being kinda sarcastic about the 'official definition' and the reality I see all around. Who are they trying to kid?

I found this story this morning. http://redtape.msnbc.msn.com/_news/...china-for-a-job-unemployed-cope-by-leaving-us ......Many are jumping ship and who can blame them?

 

[moolie]

The definition of a recession is "A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters".

It is over, by that definition, and was even shorter here in Canada.

The jobless rate, inflation, and other financial issues are directly related to the response to the recession.

So according to that definition.....we've had increased trade & industrial activity since 2009??? If so, wouldn't that mean more jobs, productivity and overall money flow? I'm sorry, but I'm not seeing that happening.
Moolie, please don't take this as a personal jab at you, I'm just being kinda sarcastic about the 'official definition' and the reality I see all around. Who are they trying to kid?

I found this story this morning. http://redtape.msnbc.msn.com/_news/...china-for-a-job-unemployed-cope-by-leaving-us ......Many are jumping ship and who can blame them?

Not necessarily, it takes time for the effects to filter down to the average person. Add to this the fact that the "recession" in the US was coupled with several other financial sh*t storms such as the sub-prime mortgage fiasco and the failure of several large financial institutions and other large companies like your big auto makers. Government policy didn't fix the problem back in 1929, and it's not fixing it now.

A recession is measurable, the filter-down effects rely on so many variables that recovery for the average person takes longer than the reversal of the actual recession. We're talking macro-economics here, not simple cause and effect.

The trouble is that the world monetary systems are so very convoluted at this point, and everyone has such intertwining debt, that even the experts have no idea how to simplify and repair the damage done.

 

[Wifezilla]

According to him, the real rate of inflation (using the method used during the '80s) is actually 11.4%, not the 3.8 % reported by the gubmint. And the real unemployment rate is more like 23%, not 9%.

I have been linking to his site and telling people about how the inflation calculations have been changed and what the real numbers are for almost 2 years now. Any time the numbers don't say what the gooberment wants them to, they change the freakin' formula!

http://www.shadowstats.com/

 

[i_am2bz]

According to him, the real rate of inflation (using the method used during the '80s) is actually 11.4%, not the 3.8 % reported by the gubmint. And the real unemployment rate is more like 23%, not 9%.

I have been linking to his site and telling people about how the inflation calculations have been changed and what the real numbers are for almost 2 years now. Any time the numbers don't say what the gooberment wants them to, they change the freakin' formula!

http://www.shadowstats.com/

Seems like there was an "argument" on the forum a few months back about this...how the CPI doesn't include food & energy anymore (and this make sense why....?? ) I don't know if you mentioned it on this thread or not, but I thought it was good to remind everyone that things may even be worse than we worry-warts think.

 

[old fashioned]

So who says I'm a worry-wart??????

 

[i_am2bz]

Ooops...sorry, I assumed anyone posting to this thread had to be a worry-wart!