Why don't most people believe the recession has ended?

The Richmond Times-Dispatch ^ | April 4, 2011 | Christine Chmura

[2ndDivisionVet]

"I don't know that I believe the recession is over."

I've been hearing that a lot lately. Over the past two years, I've typically started my presentations by asking the audience to raise their hands if they believe the recession has ended. Usually, 10 to 20 percent of the audience members raise their hands.

This past month, I've given two presentations. Both times, no one raised a hand, and some people laughed at the question.

The recession officially ended in June 2009, according to the National Bureau of Economic Research — the official arbiter of recessions. By their measures, the recession has ended: gross domestic product is growing, industrial production is increasing, and income is expanding. Employment is rising, although at a very slow rate, and the unemployment rate is slowly coming down.

Why don't most people believe the recession is over? Anecdotal evidence. They see people still struggling to find work or taking jobs below their previous salary levels. Managers are still finding large applicant pools for job openings and applicants are accepting lower salaries than they did a few years ago. Some of last year's graduates are still looking for jobs.

Some of the labor force statistics confirm the anecdotes. The unemployment rate has come down, but so has the participation rate. In other words, people are still dropping out of the workforce because they can't find jobs....

[newzjunkey]

The 1991 recession had technically ended too. That 2nd GHW Bush term was great. Wait, what?

[Mr. K]

"We're from the Government~! You can trust us! The economy is good..."

There may be some fake job growth. I am seeing a ton of it here in software development. I am getting calls DAILY now... But with $6 TRILLION dollars these criminals have wasted that is not surprising. For $6 TRILLION dollars you can give 6 million people a million bucks each. Where the hell is it all going?

[widdle_wabbit]

“just heard that there are more people employed in the “government sector” that in industry.”

I heard the same but then heard it differently, that its more in government than in manufacturing.

The second scenario could more easily be true, don’t you think so?

[Georgia Girl 2]

When your friend is out of work its a recession. When you are out of work its a Depression.

[Logic n' Reason]

Its consequent to Hyper-Regulation...and Hyer-Taxation...the only beneficiaries of which are the ruling class...

Can you please provide a useful and correct definition of "ruling class"?

Thanks.

[Mr. K]

you should wirite a book exposing what really created this fraud and make it an ‘expose’ - hype the crap out of it

[mo]

Here’s a good a place as any to start....

http://www.oligarchyusa.com/

The same minds that created the problem, are generally not capable of the solution.

[Logic n' Reason]

So....as opposed to a simple working definition of the term "ruling class" from you....I get a link to a little known and little visited website...and a misquote from Albert Einstein ("We cannot solve our problems with the same thinking we used when we created them.")

Sheeeesh!

[mo]

And your issue is....??

Actually the quote I gave you came from my high school football coach as his explanation for benching certain players...yours truly included.

I doubt he read Einstein.

[dixiechick2000]

“When your friend is out of work its a recession. When you are out of work its a Depression.”

Truth...

[Logic n' Reason]

Actually the quote I gave you came from my high school football coach as his explanation for benching certain players...yours truly included.

You coach was smart...and intuitive...one could even say, "Einstein-ian"!!!

I've heard the same thought expressed like this: "If you always do what you've always done, you'll always get what you always got."

[mo]

“If you always do what you’ve always done, you’ll always get what you always got.”

Rather apropo for today...seeing as the political class keeps recycling the same old same old.

[Logic n' Reason]

Rather apropo for today...seeing as the political class keeps recycling the same old same old.

Indeed....in "plain speak" (that is: non-political) this would be: "1) I will do what ever I have to, to whomever I have to do it to, to remain in office,
2) I will deflect your attention, ire, and emotion to "surface" issues, and impossible goals,
3) while all the time the true sludge, filth, graft, corruption, lying, stealing, and criminality goes merrily on out of your sight."

It is a true, well known and over-polled fact that the American people can't stand their congressional representatives (all houses); it is also true, tho largely unseen, that congressional representatives cannot stand the American people. (Who Will Tell The People W. Grieder)