Former fed governor was on Bloomberg today and had the right answer: We are in contraction. There was a .8% build in inventories; subtract that .8% from the .6% (alleged GDP growth), and voila, contraction (1 Q, at least).
1/Now you are resorting to distortions, push and pulls, trying to fit a square peg in a round hole, subtract this add that and all the tom foolery that goes on to justify your own biases and beliefs and falsehoods and righteousness. 2/ You never seem to accept objectivity and reasonableness of things. You need to accept you were hopeless you became angry, you trashed the stock markets pushed the SPX down a hole and sealed you own means of earning a good living and stairway to prosperity and wealth. Its like going out on the streets in a riot and burning and looting your neighborhood shops where you get you daily chores done. Next day you have nothing left. 3/Its every sad and pathetic what you did in the last 3 months when we are not in a recession by any defination and merely experiencing ups and downs of our economy. Remember all those bear market type rallies in the morning and shaving nickles and dimes and selling off in the afternoon? That was pathetic too..
Former Fed Reserve Chairman ALAN GREENSPAN lied to you too. He told bald faced lies in the media about a recession that he cannot prove or substantiate. This is the sad state of affairs in our country! Its a shame when money hungry greedy bastards will do anything sell books and lectures and the gullible ones swallowed it hook line and sinker.
The people who went over the edge declared " recessions" and acted in such a wild and improper manner in the stock market selling off everything as if there is no tomorrow.
Stick with your academic definition on recession while anyone with an IQ over 80 realizes the problems we face. Consumers make up 2/3 of the economy. And the reality is that consumers -- most of them -- have no $$$ to spend. They're selling crap on eBay to put gas in their SUV's. They're facing foreclosure. They're delinquent on credit card payments. You can be "right" with your nonsensical definition while you continue to lose $$$. Why your hostility toward those who short or those who see the economy for what it is? What has the Dow done YTD? NASDAQ? S&P? All are negative YTD. Reality check -- those trading --- and shorting --- have made money while "investors" by and large have lost $$$ in 2008.
Hedgie, honest question. Where is the American consumer going to come up with the money to spend the way they will need to in order to keep this economy chugging along?
LOL, Hedgefund wana be must believe our Government with "BLIND ADDICTION". I mean we did grow .06%.. NO RECESSION. I mean, the 1 year T-bill is back, Citi needs MORE MONEY, Housing takes one of the worst dives, far more worse than what we have witness so far, OIL IS 120 and going to 170 under key projections, Wheat, Rice, ETC have doubled at most, Consumers are cutting back from spending, Retail has taken a hit and sales are far lower than what they have projected.... Thats right, believe in the Govberment, NO RECESSSION.
You list is a grievance list. Complaints rather. The economy has contracted in this quarter, but there is no in recession. There is a difference here and very clear one. Economic slowdown is not as severe as imagined. There is a tremendous amount of work has been done by the Feds in easing anything they can. The have cut 325 basis points! That is so much money that it will take a year to get absorbed in the system. They have landed hands to financial system in unprecedented ways and used liquidity tools and opened their credit facility to Investment houses. Congress is sending 160 billion this month to consumers. The Treasury department has been doing everything to help homeowners to bail out of foreclosures. I mean if people refuse to buy and keep on renting they are not helping the country either, they have pushed down housing to its knees. You do not take that into account that things are getting better? The possibility of recession dimming and we will never be in severe economic downturn and just escape this time? Where is your sense of hope and balance? We can't keep on beating these drums of doom and gloom forever.
They still have jobs, unemployment is hovering around 5 % still not bad. You know who the real culprit in this? It you and me. 1/They can buy a home, but they are gambling on lower prices for 2 years and that got them nowhere. When a segment of population refuses to buy instead postpones it for 2-3-4 years what do you think will happen to that industry? Its a shame 19 million houses in America will go vacant tonight and nobody is there to live in them! 2/ What will happen to the stock market if you shorted the hell out of it and reduced these charts to 1/2 the values they have now? Where do you think your income will come? It ends right there and you will be sitting on the sidelines for another rally that may never come.
Anyone who starts a thread entitled: "There is no recession. Never was , never will be!" ...is unworthy of my time. The statement is so ignorant and oblivious to world history and the business cycle that it demonstrates nothing less than a profound lack of knowledge of the most basic concepts any adult should understand.