Posted on 10/27/2009 11:29:05 AM PDT by Baladas
WASHINGTON — It's about to become official: The recession is over — but not the pain.
The government will release figures this week expected to show that the economy has awakened from its deepest slump since the 1930s and is in the early stages of a recovery. But the following week, the government will issue another set of figures expected to show unemployment continuing to rise toward and possibly above a clearly recessionary 10 percent.
How can both be possible?
The government releases third-quarter Gross Domestic Product figures on Thursday. Many forecasters say they will show GDP growing at an annual rate of about 3 percent, validating a widely held belief among economists that the recession ended in June or July.
But try telling that to the more than 15 million still unemployed, the small businesses and individuals who can't get loans and the people whose homes are worth less than their mortgages.
Assertions by government and private economists that the recession is over — issued amid graphic examples of continuing wide distress — are raising fresh questions about economic scorekeeping.
The national recession may be technically over, but the state of the economy remains in the eyes of the beholder.
Or, as Ronald Reagan liked to say, a recession is when your neighbor loses his or her job. Depression is when you lose yours.
A survey of economic forecasters prepared by Blue Chip Economic Indicators, a research organization, predicted GDP growth to remain positive in each quarter through the end of 2010. In a survey by the National Association of Business Economics, 34 of 43 economists polled said the recession is over.
"From a technical perspective, the recession is very likely over," said Federal Reserve Chairman Ben Bernanke.
(Excerpt) Read more at google.com ...
Cash for clunkers would have provided a large chunk of the rise, but don’t look for this rate to be maintained. You want to see where we’re REALLY at? Wait until Black Friday.
does anyone see any evidence of the recession being over? or even getting less severe?
The Obama Depression will continue until the regime is tossed under the bus.
It is no longer a recession recession, and Whoopie is now part of the administration...
It’s over because I say it’s over. Next subject......
I declare myself King of the Universe.
Only the most Brain-Dead Liberal Free Trader Globalist Communist Chinese George Soros Lover would claim the recession is over.
This could be the biggest BS story of the year...the recession is still quite on....
The concept of a “jobless recovery” is pretty much lost on me. I guess it means the recession is over for economists.
Dont even try figuring this out. Remember Baghdad Bob when he said “the Americans have been driven out” when you could hear the US tanks rolling in the background?
3 Percent? No way in Hades has this economy grown 3% annualized over the past quarter.
I no longer believe in any numbers from the government.
I can see the situation clearly with my own eyes.
Commercial Real Estate, anyone?
The BIG question is, what’s next?
From Farm to Factory to Office to .......
What ever is next there will be fierce resistance if it is government driven.
They’re right - the “recession” is over.
What they did’t tell ya is that NOW the “depression” starts.
Creative Accounting.
Mission Accomplished.
the bad news for the US Treasury is that there is no room for monetary expansion and no incentive to invest. Any “recovery” will be still born.
I guess it means the recession is over for economists.
This situation has created a demand for economists to tell the future of the economy. (I loaned them my crystal ball.)
The AP has gone way past absurdity and parody and is now headed into the invisible area of the spectrum.
The Media/Left hive are now a 24/7 clown show.
So, if governmental spending of printed and borrowed dollars increases GDP and brings the recession to end, why don’t they just print up another eleventy-bajillion dollars and declare instant prosperity?
They are playing with the inflation numbers to make it look like growth, but it’s not.
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