The official declarer of such things has announced that the Great Recession is over, and it ended in Jun 2009. So why doesn't it feel that way?
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9 comments:
Obama's agitprop, nothing more.
Glad to hear the recession has been over for over a year. Just wish my bank account knew that!
Everyone with a firm grip on reality knows that this is just propaganda. The truth is that the recession is getting deeper. Oh we will likely see a bump up in the economy leading up to the general election because of the opinion that conservatives will be taking back the house and senate. If that really happens the bump will be bigger but then there will be a downward correction. As the chickens come home to roost (Banks can no longer work with customers and are forced to foreclose, Fed raises interest rates, DEflation of the value of the dollar as well as other tangible assets, Bond bubble bursting, Commercial real estate default and foreclosure) the economy will steadily decline over a long period of time. How can the dems stand and say "well things are getting better - only 450,000 new jobless claims last week and no net job gains."? All of this "good news" is nothing more than political trash designed to gain points with the voters. If they fall for it they are dumber that I thought.
The recession is over for the people who matter. The Wall Street Bankers and money managers know it is over. The public has been duped to reinvest into their house of cards. It is truly over - profits have returned.
The recession has nothing to do with the workers. The stock market had been "recessed" that's all. Now it has been reinflated. If you knew to get out of the market prior to the "crash" and then, knew to get back into the market immediately afterwards, then you are quite happy about the state of the market.
If you don't have inside information well then, you are screwed. What can I say?
To be one you have to know one.
8:59 it is not about votes. They don't need you vote for cryin' out loud! Why do you think they manufactured voting machines without receipts?
It is about money. They want you to invest in their little game of chance called the Stock Market
850 has it right. propoganda. a feel good message that is supposed to take the fear out of us so we go spend more. i dont spend to begin with, so i wasnt affected by the recession (other than a shoulder to cry on for my friends). dont spend, no risk.
This statement will have the same damage as the real estate bubble had.
Oh, values are going way up on real estate, better buy now!
Oh, recession is over, time to spend is now!
Before you know it, people who had no debt will be deep into debt if they start spending now and when we crash again, they'll have no way to pay off the debt.
Wake up people.
If you don't have the cash - you don't need it!
Just like I was saying a long time ago with the RE bubble - if you have a home that's worked for you for 20 years, why are you now buying a bigger home that you can't afford when that balloon payment or higher interest rate hits?!
Same principle really.
SAVE, SAVE, SAVE, you're gonna need it!
Over for who?
Oh the rich.
THere never was one for them.
They're right the recession is over, We are now in a Depression!
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