Positives of the Bush Recession

[Jolly Rancher]

Main Entry: 1re·ces·sion
Pronunciation: \ri-ˈse-shən\
Function: noun
Date: circa 1652
1 : the act or action of receding : withdrawal
2 : a departing procession (as of clergy and choir at the end of a church service)
3 : a period of reduced economic activity — re·ces·sion·ary \-shə-ˌner-ē\ adjective

[wordsmythe]

At least it's taking down Mexico too.

[Highwayman]

Originally Posted by Outofdodge

You should really quit calling people names....

Describing someone’s words or actions isn’t name calling.

Originally Posted by Outofdodge

....Technically we are not in a recession only because a recession does have a bench mark and it requires two successive quarters of a decline in GNP.....

Correct. Using the term recession to describe a slowed economy during an election year is just political posturing.

[notyoubob]

A recession is when your neighbor loses his or her job. A depression is when you lose yours.

[aft_lizard01]

Originally Posted by Jolly Rancher

Main Entry: 1re·ces·sion
Pronunciation: \ri-ˈse-shən\
Function: noun
Date: circa 1652
1 : the act or action of receding : withdrawal
2 : a departing procession (as of clergy and choir at the end of a church service)
3 : a period of reduced economic activity — re·ces·sion·ary \-shə-ˌner-ē\ adjective

That may be what the dictionary says, but real economist's say we aren't in a recession and in fact we are starting to pick up steam, the dollar has gained again and oil has dropped again from its peak of 120 to 112 based on those gains.

[Outofdodge]

Originally Posted by Highwayman

Using the term recession to describe a slowed economy during an election year is just political posturing.

A "recession" is usually determined after the fact. Also I am curious why Ben Bernanke would be engaged in political posturing?

[Binky Bainbridge]

From Times Online

March 3, 2008
Warren Buffett declares America in recession
Suzy Jagger and Dearbail Jordan

Warren Buffett, the billionaire investor, today declared that the United States was in a recession as he withdrew an offer to bail out the increasingly troubled bond insurance industry.

Mr Buffett, the world's third-richest man, said that "from a commonsense standpoint right now we're in recession", despite the fact America had yet to report two consecutive quarterly falls in gross domestic product, the technical definition of a downturn.

He conceded that the economic environment was "nothing like '73 or '74", when the US was in recession and inflation reached 12.1 per cent, but he said that investors should not rule out the possibility of a severe downturn.
Evidence that the recession in residential construction has spread across America's entire building industry emerged today after official numbers showed a sharp slowdown in public and corporate projects.

Construction spending overall in January dropped 1.7 per cent, far worse than Wall Street's expectations of a 0.7 per cent decline. However, for the first time in two years, non-residential and public sector building - which includes new hospitals and office blocks - shrank 1.2 per cent.

The grim construction data suggests that the credit crisis which erupted last summer has hit company spending, spilling over from the financial sector across corporate America as a whole.

Full story: Warren Buffett declares America in recession - Times Online

But I guess if George W says theres no recession, theres no recession!! Always believe a man who's good with numbers!!

[Justoo]

Originally Posted by Outofdodge

A "recession" is usually determined after the fact. Also I am curious why Ben Bernanke would be engaged in political posturing?

Because his boss (Bush) told him to?

Originally Posted by aft_lizard01

That may be what the dictionary says, but real economist's say we aren't in a recession and in fact we are starting to pick up steam, the dollar has gained again and oil has dropped again from its peak of 120 to 112 based on those gains.

That would explain Warren Buffet's comments?

Or the rebate checks are doing just exactly what the administration wanted. Wow, think how good the economy will be after I get mine!!!

[aft_lizard01]

Originally Posted by Justoo

Because his boss (Bush) told him to?



That would explain Warren Buffet's comments?

Or the rebate checks are doing just exactly what the administration wanted. Wow, think how good the economy will be after I get mine!!!

Warren Buffet has nearly bankrupted California through his policies he helped Schwarzenegger pass through, plus he himself admits that he is not an economic specialist. So that is two strikes against the Wizard of Omaha. BTW Unemployment has dropped today, so with this bad recession we have GDP growth, lower unemployment, dollar revaluation, and lower crude speculation costs. We are doomed.

[jeezeweeze]

Linens 'n Things Seeks Chapter 11

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