Positives of the Bush Recession

[wordsmythe]

Immigrant worker: No more money to Mexico - CNN.com

ANAHEIM, California (CNN) -- As he fixes a broken sliding glass door at an apartment in Anaheim, California, Eduardo Gutierrez worries about his parents in Mexico.

He can no longer afford to send the $200 to $300 a month he had been sending back home to support his ailing father.

"I kind of feel bad that I can't help my parents," said Gutierrez, a legal immigrant who has worked in the United States for 20 years. "I try. But I can't these days, and it's a tough situation."

Gutierrez said he earns $18.50 an hour as a glazier, installer and fixer of glass in all shapes and sizes.

But with the U.S. economy sagging, his hours have shrunk, even as his gas and grocery bills have skyrocketed along with other expenses. He's struggling just to support his wife and three children.

Bank of Mexico, Mexico's equivalent to the Federal Reserve, says stories like these are becoming more common. Deceleration in the U.S. construction industry resulted in $100 million less in "remittances" -- money from workers in the U.S. to their relatives in Mexico -- in January this year, the most recent available stats. The overall figure went from $1.7 billion in January 2007 to $1.6 billion this January, according to Bank of Mexico.

The slowdown in such money has been a consistent theme over the last year. The World Bank says remittances received by people in Mexico nearly ground to a halt in 2007, growing at a rate of 1.4 percent, compared with more than 20 percent annual growth from 2002 to 2006.
"The slowdown in Mexico is partly due to the weak job market in the United States, especially in the construction sector," the World Bank says on its Web site.

A poll, released Wednesday, of 5,000 Latin American adults living in the United States found that only 50 percent of respondents were still sending money on a regular basis to loved ones, down from 73 percent in a similar poll conducted in 2006. The poll was conducted in February by the Inter-American Development Bank's Multilateral Investment Fund.


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[Army_of_One]

What recession WOrdy?

Serious Money: Little growth but no recession in 2008 - BloggingStocks

[wordsmythe]

The one that's keeping the Mexican economy from leeching off of ours.

[Highwayman]

Wordy is just stuck in Democrat fear-mongering mode. There is no recession, only election year propaganda from a desperate political party.

What Recession? First Quarter GDP Shows Modest But Better-Than-Expected Growth

Wednesday, April 30, 2008

The nation's economy grew at a modest but better-then-expected pace last quarter, posting a 0.6 percent increase despite the continuing housing and credit problems plaguing many Americans.

Many analysts were predicting gross domestic product (GDP) growth would come in at 0.5 percent during the January — March 2008 period. Earlier this year, some economists thought the economy actually would lurch into reverse during the opening quarter.

The latest numbers reported Wednesday by the Commerce Department also did not meet what economists consider the classic definition of a recession, a retraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if the growth is modest...

FOXNews.com - What Recession? First Quarter GDP Shows Modest But Better-Than-Expected Growth - Local News | News Articles | National News | US News

[Army_of_One]

Wordy is a closet economist wanna-be.

Words...wipe the Kool aid stain from your lip.

[aft_lizard01]

Originally Posted by Army_of_One

Wordy is a closet economist wanna-be.

Words...wipe the Kool aid stain from your lip.

I didnt know they made a milky white kool-aid.

[Bubba]

Everybody but the media and the government knows we're in a recession I guess. I saw the latest poll on the news last night from the people and something like 83% said the country was in a recession.

[88-31-10]

Don't waste your time Bubba. He thinks the mission was accomplished.

[Outofdodge]

Originally Posted by Highwayman

Wordy is just stuck in Democrat fear-mongering mode. There is no recession, only election year propaganda from a desperate political party.

You should really quit calling people names. It's not just democrats saying there is a recession and you know it. Besides Fox news is not exactly a good source of economic interpetation. 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. It's basically a retroactive designation.

The other bastion of right leaning news gathering, the one actually employing journalist has a much more balanced presentation of the same story. I'm not sure if this is on the free side or of the paid side of the wall street journal site so if you don't subscribe to it and want to read, email me an addy and I'll send a copy.

GDP Expands Slightly, But Gloomy Signs Persist - WSJ.com

[Jolly Rancher]

I don't know about anyone else, but I am in a recession. I can't keep up.

It is bad when you rely on the government to 'give' you a 'rebate' to help stimulate the economy. Do you know what my rebate is going to? To fill up 3 tanks of gas, put gas in the 5 gallon tank for the lawn mower and to add a bit of extra food to the pantry (my 15 year old boy doesn't know how to stop growing!). That is a recession!!

We don't do extras. I haven't been to a movie for over a year. My son wants to go bowling some night. Can't afford it. Can't afford to take a short trip to the county lake. Can't afford a treat, like Dairy Queen. Can't afford a haircut. If, and when, it gets worse, and it will, am I going to expect the government to give me another rebate? I don't think so.

I already wash out my zip-lock baggies to use another time. I recycle my, well, everything, for future use (not for the trash man). I am also living on a double-income household (even my husband works evenings for others for a bit of money for gas!).

Sorry this sounds like *itching, it is not. I put myself in this position (by having a family that I would NEVER trade). The recession is hitting the Republicans as well as the Democrats. It doesn't matter who you are. And, it is a recession.