#1
I know the definition of a recession is two quarters of negative growth in a row, but are we technically currently in one? If you have a link to cite whatever the answer is that would be handy too. Google isn't doin my most-likely-poor-searching skills justice right now. Thanks
#3
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Technically no.

Technically yes
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#6
Hard to say, as it depends on who wants to admit to it. People deny it as they say a free market openly allows these slumps to take place, its all part of the Keynsian cycle, Adam Smith's invisible hand in the market et al. Others say "**** you mother****er, I just lost my house", so depending on who you ask it varies.
#8
Recession? Technically, yes.

Depression? No, but we're getting there. Depression requires a double digit unemployment rate.
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#9
Quote by captivate
Recession? Technically, yes.

Depression? No, but we're getting there. Depression requires a double digit unemployment rate.

Then Michigan is in a depression. Depressing.
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#10
The people who argue that we're not have the right idea in mind. The worst thing to do in a recession is to spook the sheeple.
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#11
Quote by captivate
Recession? Technically, yes.

Depression? No, but we're getting there. Depression requires a double digit unemployment rate.

the US really is in the double digit range. The government would like us to believe its at 6 or 7%, but its really like 11 or 12%.
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#12
Quote by StewieSwan
The people who argue that we're not have the right idea in mind. The worst thing to do in a recession is to spook the sheeple.

You must think people are really stoooopid.
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#13
Quote by Jackal58
You must think people are really stoooopid.



Are you telling me they're not?
The reason I say that is because if people are going to get scared and not spend any money, that's not going to help the economy at all. What do you think stimulus checks are for? So people will spend money.
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#14
So are we in one or not, I dont care about opinion, it's not an opinionated question. I appreciate the help, but I need to know for sure in the next ten minutes...
#15
Quote by dolphinfan2k5
So are we in one or not, I dont care about opinion, it's not an opinionated question. I appreciate the help, but I need to know for sure in the next ten minutes...


actually it sort of is, but yes by most definitions and statistics we are in a recession, if not a depression.
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Last edited by Kid_Thorazine at Feb 26, 2009,
#16
Quote by Kid_Thorazine
actually it sort of is, but yes by most definitions and statistics we are in a recession.


What you consider to be a recession is definitely opinionated, but two quarters in a row of negative growth in the GDP can not be put to opinion
#18
Quote by aetherspear
the US really is in the double digit range. The government would like us to believe its at 6 or 7%, but its really like 11 or 12%.



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#19
The recession started over a year ago.

The government would like us to believe its at 6 or 7%, but its really like 11 or 12%.

Source?
#20
Quote by StewieSwan
Are you telling me they're not?
The reason I say that is because if people are going to get scared and not spend any money, that's not going to help the economy at all. What do you think stimulus checks are for? So people will spend money.

That's like telling the passengers of the Titanic to return to their rooms.
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#21
What do you think stimulus checks are for? So people will spend money.

Yeah, but we learned those didn't work a long time ago. The economy was a lot better back then, too. That's why the stimulus bill isn't just handing out checks.
#22
i dont think the US is in a recession. I think its all a bunch of greedy money hungry bastards forcing people to more money on things we have to have such as milk, gas, candy bars, and energy and everyting else. GAS was sky high just a few months ago. So then prices for food go up so they can recoup some of the losses they suffered from the gas hike. Gas went down, but has the price of a candy bar gone down? No. Hinesville Georgia has their candy bars at $1.00 for the regular size. A 20 ounce soda is $1.64 or more depending on where you go.


Gas, 10 gallons, 1.50 a gallon = 15.00 dollars.
candy bar, 50 bars, 1.00 a bar = 50.00 dollars.
50.00-15.00= 35.00 dollars (profit)
Look at the profit. This is assuming that the candy bars were made in your hometown and they only spent 15.00 on gas. (This doesnt account for ingredients or human labor hours.)

Now imagine this on a larger scale and then incorporate the human labor factor and ingredients. Suppose Hersheys spent only 800 dollars to make 10,000 candy bars, then only spent 200 dollars on gas, and then assume that just 5,000 of those candy bars were sold. Whats your dollar profit now?

So we have many things to take into account but it still come down to greed.

Look at Ford, Chevrolet and Chrysler. They made millions. Where did that money go? They spent it uselessly on having 10 different models of the same vehicle. Do people really need to have the pressure of buying a car even more pressuring by having to decide which f150 to buy because there are so many? No not really.

Its human nature to want the best things life can give but damn, we go overboard and here we are. The housing industry took advantage of people with lower incomes to get them into a house and now some bank in Austria owns the mortgage while those people have to rent an apt in a run down complex. Of course if it wasnt for the insatiable appetite we have for the best, they wouldnt be in that predicament. Keeping up with Jones'.

So, thats my 2 cents. This is only MY opinion and you know what they say about opinions right?
#23
unemployment rate is always much lower than what the figures actually are. on top of that people are only classed of being unemployed if they are actively seeking work.
#24
Quote by bastratard
i dont think the US is in a recession. I think its all a bunch of greedy money hungry bastards forcing people to more money on things we have to have such as milk, gas, candy bars, and energy and everyting else. GAS was sky high just a few months ago. So then prices for food go up so they can recoup some of the losses they suffered from the gas hike. Gas went down, but has the price of a candy bar gone down? No. Hinesville Georgia has their candy bars at $1.00 for the regular size. A 20 ounce soda is $1.64 or more depending on where you go.


Gas, 10 gallons, 1.50 a gallon = 15.00 dollars.
candy bar, 50 bars, 1.00 a bar = 50.00 dollars.
50.00-15.00= 35.00 dollars (profit)
Look at the profit. This is assuming that the candy bars were made in your hometown and they only spent 15.00 on gas. (This doesnt account for ingredients or human labor hours.)

Now imagine this on a larger scale and then incorporate the human labor factor and ingredients. Suppose Hersheys spent only 800 dollars to make 10,000 candy bars, then only spent 200 dollars on gas, and then assume that just 5,000 of those candy bars were sold. Whats your dollar profit now?

So we have many things to take into account but it still come down to greed.

Look at Ford, Chevrolet and Chrysler. They made millions. Where did that money go? They spent it uselessly on having 10 different models of the same vehicle. Do people really need to have the pressure of buying a car even more pressuring by having to decide which f150 to buy because there are so many? No not really.

Its human nature to want the best things life can give but damn, we go overboard and here we are. The housing industry took advantage of people with lower incomes to get them into a house and now some bank in Austria owns the mortgage while those people have to rent an apt in a run down complex. Of course if it wasnt for the insatiable appetite we have for the best, they wouldnt be in that predicament. Keeping up with Jones'.

So, thats my 2 cents. This is only MY opinion and you know what they say about opinions right?

Trillions of dollars have been lost in the stockmarket so far. I don't think anyone is doing this to satisfy their greed.
#25
Apologies for posting again but, Did you not know that those TRILLIONS of dollars lost in stockmarket were because of people who were smarter than the ones who lost the money? Where is the trillions lost? In your pocket? In my pocket? Or is it in someones pocket somewhere in a mansion in Beverly Hills?

You dont believe the stock market is full of greed? Im sorry but I think that traders who supposedly specialize in stocks and bonds are jsut as greedy. I mean think about this:

Isnt the hersheys company a part of wall street? Isnt Coke a memebr? Isnt BP a member? Arent Ford, Chrysler and Chevy members?

Yes greed is a part of human nature and no amount of talk of recession will change that.
#26
Quote by Mr.Tamberineman
unemployment rate is always much lower than what the figures actually are. on top of that people are only classed of being unemployed if they are actively seeking work.
Wouldn't that make the actual unemployment higher than the figures?
#27
You know what's stupid? Apparently when Bernanke assured congress that this recession could be reversed as early as next year, market confidence increased and stocks went up. It just makes me wonder why the hell didn't he just say something like that in the first place instead of "we're fucked, we're so fucked."

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#28
Quote by Masamune
Wouldn't that make the actual unemployment higher than the figures?


It does, unemployment figures are based on people who collect unemployment benefits, not everyone is eligible even if they are unemployed, and not everyone who is eligible draws on them.
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#29
Quote by Masamune
Wouldn't that make the actual unemployment higher than the figures?

Uh, that's what he said.
#30
Technically, yes. The economy fluctuates, and recession is just part of it.

I know it sounds crazy, but theoretically, for everything to get better, could go through a depression. It basically resets the economy. Though, a depression is obviously not ideal, it might be what happens.....
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#31
Quote by Xiaoxi
You know what's stupid? Apparently when Bernanke assured congress that this recession could be reversed as early as next year, market confidence increased and stocks went up. It just makes me wonder why the hell didn't he just say something like that in the first place instead of "we're fucked, we're so fucked."

I don't think that stocks are really a very good indicator of what is good or bad for the economy..I think it just shows what's good or bad for the investors involved..
#32
The answer is yes.

From the US Bureau of Economic Analysis:


Quarter   Indexed GDP (base year 2000)
2008q3	-0.5
2008q4	-3.8


Two quarters of negative GDP growth is the definition of a recession.
Quote by Kid_Thorazine
It does, unemployment figures are based on people who collect unemployment benefits, not everyone is eligible even if they are unemployed, and not everyone who is eligible draws on them.

The latter group would typically be defined as 'not in the work force', not unemployed (technically you could have someone who is actively seeking work (thus 'unemployed') but not drawing the benefit/registered with what ever the US unemployment agency is called, but I'd imagine this number is small).

America's problem at the moment (as with the rest of the world) is underemployment. That is people working less hours than they want to.
Last edited by Kiwi Ace at Feb 26, 2009,
#34
Quote by aetherspear
the US really is in the double digit range. The government would like us to believe its at 6 or 7%, but its really like 11 or 12%.

And your source is?
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#36
Quote by aetherspear
the US really is in the double digit range. The government would like us to believe its at 6 or 7%, but its really like 11 or 12%.

*dons tinfoil hat*

in all seriousness, you're probably right though.
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#37
There are two definitions that define a recession.

1. Two consecutive quarters of negative GDP.

2. Significant decline in economic activity lasting more than a few months.

Clearly the second definition is much more ambiguous than the first, but regardless, it still places the U.S. economy in a recession when you look at the numbers for GDP, unemployment, industrial production, capacity utilization, CPI, wholesale trade, etc.

In short, yes, we are very much in a recession and will be in one for a long time to come, despite President Obama and Treasury Secretary Geithner's rhetoric.
#38
It's so bad that i had to pay $1.35 for a medium sized coke at McDonalds.
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#39
unemployment rates also do not take into account part time workers seeking more shifts.

but yes, we are most definitely in a recession...technically....metaphorically...whatever.


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