U.S. recession began in December 2007, NBER says

U.S. recession began in December 2007, NBER says

www.marketwatch .com
(visit the link for the full news article)

Ok, where are all the ignorant fools who were posting on this site that we were NOT in a recession? How many will admit to their ignorance and their arrogance?



www.marketwatch .com
(visit the link for the full news article)

I think its funny, I'v sat here for the last twelve months and watched the comment "recession???" scroll along the bottom of cnbc.

Thank god I moved my 401k 4 months ago

OH MY GOD . . .

I can't believe it . . . really . . . a recessi . . . rescre . . . um . . . restoosh . . . recompenkei . . .

A WHAT . . .


Seriously . . . they can call it whatever they want. We all know it sucks, but what sucks worse is that it takes a bunch of newt necked Buddy Holly glasses wearing, floodwaterpants geeks to tell us what we've known for months . . .

Sheesh

[edit on 1-12-2008 by GoalPoster]

There will always be those who measure recession by a book definition.

My definition is a bit more pragmatic.

But then, there are still those who prefer the optimistic pablum spouted by the 'idea' salespeople at the MSM outlets.

I wonder how many times we can count showing politicians and leaders telling us we are not in a recession, hundreds, thousands? And who will they 'blame' for getting it wrong when everyone knew it but them.

These delusional, power-hungry, greed-fed, flatulence-breathed buttwads really thought we wouldn't clue in that the economy was in deep skanky poo . . . I guess they figured we didn't 'notice' the trillions of dollars flowing out of the Fed over the past two months.

I actually believe that some of those elected representatives will take this as some sort of surprising news . . . at least that's how far removed from reality they appear to be.

The key thing here is to stop worrying about text book definitions and remember the essence of economic systems like capitalism. The fact that the system as a whole knows something before each individual element becomes aware of it.

This was evident in all the signs which the textbookers were calling "incidental". It would have been like a patient with limbs falling off being told that he doesn't really have a problem... in fact, he's doing great!

reply to post by HunkaHunka

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Yes, many of us have been saying that we are in a recession while the nay sayers were providing all of the 'data' showing that a recession is when such and such happens and that hasn't happened.

Then, 2 weeks ago, I see a report stating that we started our recession in April of this year and should expect it to last 15 months. Well, now it's December of last year! Still last 15 months?

It's all a money game for these idiots anyway. The extremely wealthy pull the strings and make the people dance to their tune while they laugh. It's a pathetic joke and the Federal Reserve is at the crux of the whole problem.

reply to post by HunkaHunka

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He is wrong the recession started officially during the first wave of housing crisis in the summer of 2007.

reply to post by HunkaHunka

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Ya, I saw this... I was about to post it but thought to search to see if anyone has already. Which they did.

I keep telling my friends and family that we are in a recession.

serious. I seen soo many economics special dudes on the cnn, and fox news saying we are not in one . Now we need to take these news articles that proves we were and shove it down those economists throats that said no we are not in a recession.

I mean I knew it all along. yet I took a college class and out professor which was teaching use economics since I have to take the class. He told us to our face that we are not in a recessions.

seriously I just want to print out this article and make that professor to eat this article. This shows how ignorant most people are.

on black Friday.. they said we had a 3% more sales gain since last year.

this shows people are stupid... why spend money when you know you could lose your job.

I live in Michigan and our economy here is the worst compared to any state. We have the highest unemployment rate.

Yet people here including my friend went out on friday and spend over like 500 bucks buying name branded clothes.

Which are like 50 bucks a shirt or pants ect.

We need a permanent framing of this article on ATS have it on the home page.

This was a huge argument and If you knew were were in a ressions then clap your hand cuz you are way better then most economist and you should be able to take there jobs.

This confirms we been in one for a year. I want to see what bush say's.

Since he keeps saying oh our economy is strong... then later when our stock market crashed. Oh our economy is just slowing down. We need a bail out to fix this.

We take the bail out.... now where is the fix??? haha.

I belive ron paul more then what comes out of bushes mouth.


Nice find. I also want this to be framed or put somewhere on ATS since this was golden found.

Some here on ATS knew we were in one. This is the victory for those who knew we were in a recession. I would love to see what the economists have to say on cnn or fox news.

I will get a kick out of hearing there excuses why they thought we were not in a ressions.

[edit on 1-12-2008 by computerwiz32]

For me, this article brings to mind how Paulson sat on his pie-poking thumbs up until the summer and when people (MSM rather) started knocking on his office door he just gave "it's all good" remarks.
This proves he was incorrect. During the summer when he was "A-OKing" everything the MSM gave little criticism. There seemed to be an attitude within the MSM that well his lack of concern was perhaps necessary given his job title to keep the ducks in order and shed some optimism on the situation.
Here's some Logic (my logic)
1) So he was incorrect.
This means he either thought it was good or knew it was bad and lied. If he lied he either
2A) was trying to keep a positive face given his important role or
2B) knew it was bad and didn't care.
if Paulson was trying to turn things around by saying it was good then 3) he has failed
if he just didn't care about the lousy direction of economy then 4) he's opposed to the general well-being of the market, and the people it affects
if 1 then 2A or 2B
if 2 then 3 or 4
So given 1, Secretary of the Treasury Henry Paulson is, by logic, a failure with great power or working against the overall prosperity of America and the World

reply to post by marg6043

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No, It started in dec of 2007. The housing market was an after effect. The house market problem in the summer of 2007 didn't start the recession. Something had to happen before that time to cause the house market to get hurt.

A recession is when the countries GDP goes in reverse. Meaning that instead of growing it started to decline.

but has to decline to a certaint percentage to make a offical statment that we are in a recession.

So we really were in a recession since december of 2007.

but it wasn't noticeable in december of 2007 until the summer of 2007 when the housing market took a plung.

hope this helps.

reply to post by Moonsouljah

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well, there is consparicies about the economic meltdown. Some think it was done on purpose. So the builder burge can force North American Union on us. So we will be in a situation that we will think that ya a North American Union will be for the best since our economy crashed.

You have to destroy a economy to build a new economy. Some say that obama will top this off.

Since his slogan is CHANGE what does he mean by that???? change as in American history the first black man as a president???

change as in that he wants to turn around this country to make it better???

or change meaning he wants to do a make over??? meaning create a NORTH AMERICAN UNION and change alot aspects that would turn this country into a police state.

So I mean I personally think that it was done on purpose. I don't see how we can have people that are stupid enough to think we are not in a recession. I think the top people who spread around the brainwashing tech. They have some type of plans.

I personally do think builder burge won the battle. I think North American Union is coming up soon.

Otherwise why are they bringing back some U.S troops to prepair for some situation that will lie ahead.

I mean they knew once they destroy the consitution that many people will be upset. So they need to gain control. Once they got that we are done. Game Over.

Well, hope this gives some idea on what could be the reason why our economy got this bad.

reply to post by computerwiz32

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Do you think all of our 'elected' leaders will vanish into the FEMA "Continuation of Government" underground facilities, protected by the thousands of combat troops being brought in for 'peace keeping and law enforcement help' despite posse commitatus?

Do you think the 'elected leaders' know about the end-game and are simply waiting for the right moment to make their move?

Is it possible that a 'list of favored persons' exists to ensure their safety and comfort?

I hate the possibility that any of the above could be true. But it would be naive to think that it is out of the realm of possibility.

For some of us that has been following the markets since 2004 after the bush reelection we have seen the way in wish the bush administration has been very good at sugar coating the numbers while they were screaming that the economy was strong.

OUr economy was made out of an illusion of prosperity and well being while manipulating interest rates for years.

GDP numbers has been used to show the health of the economy but GDP figures where never mean to be use as the sole indication of a nations health.

They can be manipulated and sugar coated and that is what the Bush administration did for a long time.

[edit on 1-12-2008 by marg6043]

reply to post by Maxmars

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Well, yes... but it's only my opinion.

If you really look logicly. Why is our economy is crashing. Yet they say a bail out will help. Yet Ron Paul yells it will make it worst.

The problem is we are spending too much ..... well bush really spent alot on the war. Bush Spend our money the most compared to any presidsent which is a fact.

This was the reason our economy crashed because less money was flowling around the U.S

So we have to fix the gap....well we have to makeup what bush spent for the war. That is the only way to fix the economy but that is not the only problem. Bush signed in a law that allowed american companies to go into other countries.

this is how GM went into china and making millions in profits. So now gm is asking for a bail out from the U.S and also Canada. Yet they are making millions in China.

what I think is that builder burge is getting the world ready.

They are controlling economies of the world which includes us.

They want one currency for the world. However it will take time to get to that point.

they want to make use have the North American Union and accept the ameros.

once they got all the unions then they will work on how to merge all these unions as one.

currently the economy you see today. It's because they want to make every country have the same economy or at least to be equal with money currency.

they want 1 amero to equal one euro etc.

The reason is they allowed U.S companies to go to other companies to invest in other countries usally poor coutnries like china india.

Now you notice they are developing. The builder burge wants to bring those areas up to a point were they can compete with america. The reason why is that they plan to form one world order.

So other countries if you really look are slowly merging into american culture.

Just look at india they are now profiting so much that poor people can afford cellphones. Yet in the U.S not all people can afford it.

I am just saying that the builderburg wants the world to be as one. Meanig we will have the same education and wages as another. The wages will be enough just so you can live. Not enough to enjoy life.

So this economic situation is just the beginning and this will take years to do.

But it's right now to a point if you really look at why bush allowed american companies to go to other countries.. why???

I mean those companies will invest into other countries and will help bring up poor countries but yet the companies do it thinking hey it's cheap labor.

All I am saying there is more then what meets the eye. Meaning there is always something more too it. You will never find out how deep the hole is.

Unless your inside that hole. You know what I mean. I am just saying you will know more about what is happening when you are involved with the people who are the ones involved with those siutaitons.

We may well see a dollar amount increase in Black Friday spending over 2007, perhaps even 3%. Now granted, ShopperTrack (the research firm who released that number) have overstated on early estimates for at least the past two years, and granted they base their early estimates on foot traffic and extrapolate dollar spending that way, but let's just say we had a 3% increase in BF spending YOY.

How much inflation did we experience YOY Nov 07-Nov 08?
Here's a hint: it's likely somewhere between 7-10%. Let's say it's 7%.
If dollar amount sales grew 3%, but inflation grew at 7%, we didn't see any actual sales growth. We saw a sales contraction.

Everyone jumping up and down over the guesstimate of 3% BF sales growth isn't looking at the big picture.


In re: the recession....yeah, no kidding.
Now when will the talking heads start discussing what kind of recession we're in?
A huge percentage of people alive today, if they've experienced a recession in the US, have only experienced an inflationary or stagnant recession.

We're looking at the first deflationary recession since 1949 here, and that's not a good place to be.

Yes I approached the subject of the good fortune of Black Friday on another thread with more information, but the stock market shows today that they didn't got fooled.

Retail got major loses and the expected number after the holidays are over, is expected to be about 10 percent from last year.

Retailers had to lower prices so much that their profits went down the drain.

[edit on 1-12-2008 by marg6043]