We are in danger of entering a recession? I didn't know we were out...

Originally posted by IsThisThingBugged
reply to post by crazyguy2012

 

Like we have 8.2% unemployment right?... Haha

This one is key. How many states pay unemployment for 4 or 5 years? None. Unemployment is tracked by the number of unemployment claims. When their unemployment runs out, they are no longer a part of that statistic.

This is how our politicians and the MSM manipulate us with false information.

I have no idea how many people have exhausted their benefits, but over the period of the last 4-5 years, my guess is it's quite a few.

Originally posted by IsThisThingBugged
reply to post by crazyguy2012

 

The definition of a recession is 2 consecutive quarters of negative growth. We are "growing" at like 1% so technically we aren't in a recession.

I think the numbers are fixed personally. The government can manipulate certain numbers to make them look however they want.

Like we have 8.2% unemployment right?... Haha

So we grow one quarter a percent of two and the next we shrink 8 or 10 percent. (this is a guess, but probably not far off)

I think we need a new definition of "recession"

A recession is the same as a depression. The word recession came into common usage after "The Great Depression". The progressives decided that there would be no more economic depressions as a way to justify their views and agenda i.e. the "New Deal". We have been in a depression for a very long time. Longer than any of us have been alive. If you're looking at the big picture that is...

Just my .02

Well, I noticed something a few days ago. You see, when things were at its worst, I could go to my favorite expensive restaurant and get a seat immediately. We would then marvel at how no one was dining out anymore. Even the less expensive restaurants were not filled.

Even for those financially comfortable, the fears of where the economy was going, made even them afraid to spend money. I know I had a lot of guilt. But I still spent away anyways! But if you think about it, that is exactly what the economy needed. Those that had it needed to spend it. And to also share it with our children.

Anymore? My favorite expensive restaurant requires at least a 30 min wait. But I did notice something else. The customers were all middle aged like myself, or older. And that restuarant used to be poplular with people of all ages before. Think about it... We all accumulated our wealth already and had good jobs BEFORE this all started.

So maybe it isn't really over yet. But the confidence in the economy itself has improved.

Originally posted by crazyguy2012
I keep seeing more and more articles posted like these.

www.huffingtonpost.com...

www.huffingtonpost.com...

www.cbsnews.com...

This is really starting to get to me. I saw the recession coming a long time ago. I am an attorney, lawyer, and counselor at law. [There really is no difference in the three titles]. Anyway back in 2005-2006 whenever I would have to appear for morning hearings the judge's would have maybe 30 hearings scheduled for the same morning. Only 2 or 3 of those hearings would be foreclosures. Then in early 2007 the same motion calendars would have 40-50 hearings scheduled and 10-12 would be foreclosures. By late 2007 sometimes there would be 70 or so hearings scheduled and only 10-12 of those were not foreclosures. It was obvious what was going on. In 2007 I also worked for a law firm that did those foreclosures. I rarely got involved in those. I didn't like it. It wasn't a moral decision but it was menial work to me. The same thing over and over again. At that time the firm would send out 30 to 40 demand letters a week. A week or two later we would get 37 payments in and only three would end up in foreclosure. Then we were sending the same 30 to 40 but only 3 were paying and the rest were going into foreclosure. We were clearly in a recession.

Now I am one of those "foreclosure" attorneys. Not because of choice. Well I could choose to be homeless, but I have to work and have bills to pay. I have a family that needs food, clothing, shelter... The fact is my book of business went bankrupt. After suffering for almost two years without a paying client in sight I gave in and started doing foreclosures because being practically homeless was not fun. Well today I am doing foreclosures. I hate it. Sure I see plenty of people who have figured out the system and have learned that they can pretty much live free for years if they play the game right. But I also see countless numbers of people who want to work but have been out of work, have had their paychecks cut, have gone from two income families to one income, etc. I have seen glimmers of light and hope for some of these people. I have been in their position. I went from making a very good living to losing everything. I finally was able to find a job after almost two years of struggling to survive. I make less than 1/2 of what I used to make.

I do not remember the recession being over. Now we are in danger of going back into it? What is this BS these politicians and media are sending us? Does anyone out there buy this? Things are getting better? for who?

Is there anyone out there who thinks we have gotten out of the recession and are in a recovery period? We are still in an economic crisis. So many people are out of work. Those of us who have jobs are barely getting by.

edit on 25-8-2012 by crazyguy2012 because: grammer. typing errors

shut my business down in 2003 and walked away. Glad I was not the only one living in a dream!

Originally posted by crazyguy2012
I don't blame the government for this. Well I should say I don't only blame them. We are all at fault here all of us, we didn't have to take out that second mortgage, we didn't have to run up the debt. The banks, businesses, government, ourselves, WE let this happen. Now we sit back and expect the government to fix things. I don't expect the government to be able to correct our problems. However, I wouldn't expect them to stand in the way either. To me it seems like the parties are more concerned about each other's failures. Too concerned with trivial matters like abortion, drug control, gun control, gay marriage, iran, Israel, Syria, terrorism? We have been terribly distracted from our real problems. Are y more concerned about being robbed than you are of a terrorist attack? More people have died in Chicago from violent crime in than in any terrorist attacks. . The best way to reduce crime is to get people working. We need to create a real industry, real jobs. What happened to quality? What happened to the american standard? Sure you can buy cheap Chinese crap that will break soon after you buy it.... The government needs to pay attention to what really matters at this point.

The economy will improve. Maybe it is close to bottoming out. But the best thing we can do right now is to remember. The great depression was tough but it made us strong. It made us self reliant. We need to remember these times and how we got here so we do not repeat our mistakes. We need to recreate the american industry. We need to keep jobs here.

We had a world war to bring us out of the depression. America destroyed the infrastructure of other nations and then helped rebuild it all. My opinion is that the only way America will get it's manufacturing back is to destroy other nations infrastructure.

reply to post by autopat51

I am one of those contractors. The only customers I have left are doctors,lawers, and bankers. People of my class can no longer afford my services. Insurance and taxes are 58% of my take. It is sad that it is other companies and services as well. If the consumer has no money to spend, it will continue to go downhill.

reply to post by crazyguy2012


Simple answer to the OP, it's semantics. A recession is defined as 3 straight quarters of negative GDP growth (in other words, shrinking overall economy.) this means that if the overall economy grew by 3%, but all of the income of that economy fell to 3 guys and the restbof our incomes dropped, we would still be in a growth stage.

What people forget is that we were on the brink of total collapse. TOTAL collapse. In order to feel like things are decent again, let alone good, we've got a loooong way to go. If anyone thought we would recover in 3 years, the president included, they're nuts. If we fully recover in 10 years, I'll be ecstatic. If we fully recover in 12-15 years, I'll think to myself, "yep, that's about dead-on what any sane person would have expected.

Se are not in a recession. We're growing. We're juat growing slowly, and the wealth is collecting at the top disproportionately still.

I think its a scare tactic used by the governments. If you're scared about a 'recession' coming you're not gonna ask for a raise, you're not going to start a business, you're not going to ask for more. You will stick to what you have even if what you have if crap.

Perhaps somewhere in the past few years the Obama administration changed the definition of "recession" like they changed the "acceptable levels of radiation". Now we're entering the NEW definition of "recession" and that CAN'T be good.