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Technically, this isn't a recession yet...

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skibunny4dean Donating Member (182 posts) Send PM | Profile | Ignore Mon Dec-08-08 08:18 AM
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Technically, this isn't a recession yet...
"Period of general economic decline, defined usually as a contraction in the GDP for six months (two consecutive quarters) or longer." - Source: http://www.businessdictionary.com/definition/recession.... I'm not saying times aren't bad for some people, but we haven't met the definition of recession yet. A bunch of guys just went out and announced it that we've been in a recession since last December. Is it too much to say that all the panic in the media right now is at least contributing to the decline in consumer confidence? Just sayin'...
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JackRiddler Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 08:23 AM
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1. Technically, "economics" as practiced today is a steaming pile.
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The Traveler Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 08:26 AM
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2. Wasn't there a report
that indicated a contraction of the economy that started in Dec 2007? Like a year ago? 1 year > 2 quarters. So, technically, I think it is a recession. :shrug:
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ixion Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 08:37 AM
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3. this is more than just the usual MSM echo chamber issue
the F.I.R.E system is fundamentally unsound after years of fraud and corruption. It's going through a correction, and there's nothing that can be done to change that. In the end, though, we'll wind up with the true value of our economy. It's just too bad that we've saddled generations with debt in a futile effort to bailout the people who caused this mess in the first place.
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