Come on. I have seen article after article which states there is a coming recession. However, I have also seen many articles on people getting layed off, houses foreclosed upon and businesses closing. In my area, I have seen foreclosure sales and a constant presence of real estate agent signs. I have seen large established car dealerships and other businesses closing their doors. In the news, we have seen seemingly large unstoppable business go BK. Overnight, certain insurance companies have shed most of their value. Stocks have taken a huge nosedive resembling a slow and painful 1929 crash. So I ask you... is this not a recession?
Aside from the initial drop, yes it was slow. It took 3 years for the market to bottom. See attached.
If you are waiting for the government to say we are in a recession don't hold your breath. They *might* admit its a recession after 2 consecutive quarters of negative GDP growth.
URGENT!!!Obama wins and massive selloff tomorrow...McCain wins and massive rally tomorrow...if Obama wins, America will wake up and say "what in the world have we done"...take your vote very serious today...remember forget being in "vogue" by voting for Obama...think from your head and vote for the only candidate with experience...John McCain...
Pulling this from Paul Kedrosky's blog I've said it before that the US never really left the 2001 recession but here is the picture, provided it's accurate. Real growth never materialized. Generalissimo Bush's urging for easier homeownership is similar to Richard Nixon urging Arthur Burns to expand the money supply. Both were misguided policies in which one created the 70's inflation while the other has so far created a solvency crisis.
Absolutely. And you can expect the next president to continue these policies. If we're really unlucky, Obamessiah will hatch a new new deal which will prolong this recession the way FDR prolonged the depression. The policies intended to prevent a recession in 2001 accelerated the housing bubble, leading to a worse outcome than just letting the recession happen. Now, to avoid this recession, we're taking even more "heroic" interventionist actions which will either create a new bubble with an even worse pop or stagnation the likes of which we haven't seen since the 70's. This is how well government central planning works.
florida has been in a recession since the 2nd quarter. At least in central florida most business is down 30-40% . Higher unemployment housing market already crashing from 2 years ago. The only bump this year was when the stimulos checks came out. I am in the auto business and things cant get worst so if this isnt a recession i definetly will go out of business.