Positives of the Bush Recession

[Army_of_One]

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

Lets be a little more specific. "A period" could mean a week, a month or a year...here ya go..


In macroeconomics, a recession is a decline in a country's real gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year.[citation needed]

In the US, the judgment of the business-cycle dating committee of the National Bureau of Economic Research regarding the exact dating of recessions is generally accepted. The NBER has a more general framework for judging recessions:


Show me the negative growth for 2 successive quarters....if you can't then we probably are not in a recession. We are in a downturn..yes...a recession...HMMMM

[Binky Bainbridge]

McCain: ‘Very Likely’ America Is ‘In A Recession’»

New Labor Department numbers show that employers slashed jobs by 63,000 in February, “the most in five years, the starkest sign yet the country is heading dangerously toward recession or is in one already.”
Faced with the grim jobs report, yesterday at a townhall in Atlanta, Sen. John McCain (R-AZ) admitted that he thinks America is “very likely” in a recession:

The main factor out there is that Americans are hurting right now. And they don’t care too much whether it’s a technically a recession or not. So, I would say that, oh, it’s very likely, and more and more economists are saying that we are probably, quote, ‘in a recession.’

Watch it: Think Progress

Paul Krugman wrote yesterday, “[i]t’s a very good guess that we will eventually be told that the second recession of the Bush administration began in December 2007 or January 2008.” McCain, with his self-proclaimed lack of economic knowledge, has instead offered happy talk up until now:

– “And by the way, I don’t believe we’re headed into a recession. I believe the fundamentals of this economy are strong, and I believe they will remain strong.” [Fox News Debate, 1/10/08]
– “I still believe our fundamental underpinnings of our economy are strong.” [1/23/08]
– “A lot of this is psychological. A lot of it’s psychological. Because I agree the fundamentals of our economy is still strong.” [1/24/08]

McCain is late to the game. CBO Director Peter Orzag foresaw an “elevated” risk of recession in September 2007. A January USA Today survey of economists found a 50/50 chance of recession. In early February, 60 percent of Americans predicted a recession.

[Bubba]

Originally Posted by Army_of_One

Because 83% of the people read the liberal media and only regurgitate what they learn from the paper or news.

Because 83% of the people probably couldn't tell you what a recession is.

Yeah...that 83% holds a lot of water.

You can't have it both ways, just a few short posts ago we were reading about how the media was reporting that we weren't in a recession. Now, it is because of the media that 83% said we were in one...I'm confused.

[Made in the USA]

Excuse me, while I cut in----
Weezie, didn't you know that a "bird in the hand, is better than a bird in your Bush"!
Over & Out------

[aft_lizard01]

Originally Posted by Binky Bainbridge

McCain: ‘Very Likely’ America Is ‘In A Recession’»

New Labor Department numbers show that employers slashed jobs by 63,000 in February, “the most in five years, the starkest sign yet the country is heading dangerously toward recession or is in one already.”
Faced with the grim jobs report, yesterday at a townhall in Atlanta, Sen. John McCain (R-AZ) admitted that he thinks America is “very likely” in a recession:

The main factor out there is that Americans are hurting right now. And they don’t care too much whether it’s a technically a recession or not. So, I would say that, oh, it’s very likely, and more and more economists are saying that we are probably, quote, ‘in a recession.’

Watch it: Think Progress

Paul Krugman wrote yesterday, “[i]t’s a very good guess that we will eventually be told that the second recession of the Bush administration began in December 2007 or January 2008.” McCain, with his self-proclaimed lack of economic knowledge, has instead offered happy talk up until now:

– “And by the way, I don’t believe we’re headed into a recession. I believe the fundamentals of this economy are strong, and I believe they will remain strong.” [Fox News Debate, 1/10/08]
– “I still believe our fundamental underpinnings of our economy are strong.” [1/23/08]
– “A lot of this is psychological. A lot of it’s psychological. Because I agree the fundamentals of our economy is still strong.” [1/24/08]

McCain is late to the game. CBO Director Peter Orzag foresaw an “elevated” risk of recession in September 2007. A January USA Today survey of economists found a 50/50 chance of recession. In early February, 60 percent of Americans predicted a recession.

At least you left in the key parts like not in a recession yet, economy not being his strong suit. Oh and the most important parts being that the articles are old. Sorry Binky by all classical definitions the economy in the US is not in a recession no matter how many thinkleftist.org sites you quote or how old the story is.

[jeezeweeze]

Anybody know how to read these ? I don't but I do understand what the - sign means, unless of course somebody has altered that.

US Stock Markets: Stock Market Indices - BusinessWeek

[88-31-10]

In all reality we are probably really in the midst of a period of stagflation.

[K C Muffin]

Call it you want, but it hurts! We've even started eating at home more often! And there's just 2 of us (most days)! I feel bad for any small family that doesn't have two giant incomes!

[Binky Bainbridge]

"I'm not in denial about a recession, I'm just selective about the reality I accept."

[Highwayman]

Originally Posted by Binky Bainbridge

"I'm not in denial about a recession, I'm just selective about the reality I accept."

And your posts show that you are very selective about the “realities” that you choose to accept.