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Acclaimed Economist Says Recession Is Over
Donald Luskin: Peak unemployment claims show the recession may be over.
IOW, if quarterly GDP for the next 10 years shows .1% growth annualized, the econs will say we are "out of recession."
It may not feel "out of recession" to anyone but them.
China buying commodities not because of growth but to hedge against weak USD, that is an ugly little secret that will keep a fly in the American equity ointment while trying to save the banks, and screw Main Street.
http://www.philadelphiafed.org/research-and-data/real-time-center/business-conditions-index/
"I start today's essay off with that little antidote about the natural plant many in the country use daily as medication" You mean "anecdote." I don't want an antidote for weed.
When will this horrible recession be over? According to one surprising source, it's over right now.
As I said, the FBI compiled a list of 64,000 names involved in financial fraud. The FBI concluded that the majority of names are from companies, but the list includes also people who lied to get a loan, but worse than that, banks did not investigate these people before giving them loans, because they would profit by simply creating a new loan and reselling it. After reselling, they do not care if people pay or not. And of course, one has to investigate why AAA rating was giving to these mortgages. You will probably find more fraud then. Think about it. 64,000 names involved in fraud and nobody will ever go to jail? Just Madoff to serve as an example? Madoff compared to these guys is a boy from the Vienna Choir.
I like how the guy mentions the "liar's loans". Let's examine that. Is the suggestion being made that the *people* who applied for these liar's loans should simply be absolved?! I do not argue with your points 1 and 2 and most of 3.
I am sure you do not know what generated this crisis. This is a crisis created by greed and fraud on Wall Street and on government, not by regular "people". I suggest you [watch this video](http://www.pbs.org/moyers/journal/04032009/watch.html), it will explain it all OBAMA is not responsable for the crisis he received. Obama is to blame for the crisis he is building with more spending. Do you want to solve the crisis? Stop what generates spending... in other words... 1) trial and put in jail all 64,000 names listed by financial fraud by the FBI in 2008. This will include most part of Wall Street bank owners, CEO's and investment companies. 2) freeze all assets from these guys. Close their companies, including banks. Use the assets to pay who them defrauded. 3) stop spending in wars. 4) close all thousands of US bases overseas. 5) stop spending to deceive, kill, disrupt foreigner governments. If you success to do these 5 items you do not need to bail out the rich.
Ah, the old "speculators paying cash" ruse. Just wait for the tidal wave of foreclosures to come on the market and expose those "speculators paying cash" as nothing more than a media creation.
Get with the program Hangly. Repeat after me: "It's all that dang socialist Obama's fault".
heh heh heh heh heh heh heh heh heh heh you said "if"... Heh heh heh heh heh heh...
Ah, the old "blame Obama" trick. I agree with you that this ain't over, but you're barking up the wrong tree. I'm not into the "blame game" necessarily; the point is that we are up s!*t creek without a paddle and there's going to be some pain involved. How would *you* solve this crisis? Personally, I'd like to see everybody who should be kicked out of their house actually *kicked out*, but nobody's gonna let that happen... **PEOPLE** caused this problem, not Obama and not freakin' BUSH.
Sorry, this is Reddit. Bad News only, please, preferably unsubstantiated.
There wasn't real growth in 1995-2001? That time period was one giant technology explosion. We now have the internet, inexpensive computers, and faster network connections as a result.
Their only mistake was to use their legal names on reddit...
He might be right, we never know if we're in a recession until two quarters into the thing, when all the data from previous quarters can be analyzed. It's very possible that we're out of it now.
no, the beginning of the end doesn't happen until the end of the middle. If it is the end of the beginning than we are clearly entering the beginning of the middle, then once we've seen the middle of the middle and the end of the middle, only then will we be entering the beginning of the end.
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I have been in business since 1977 and a student of the economy, never seen anything Like this before.
So maybe the previous indicators prove his point, the reality of the situation is still unknown.