|
Posted on 12/01/2008 1:54:42 PM PST by rabscuttle385
It's official: The United States is in a recession -- and it started a year ago.
The nation's economy peaked, and the recession began, in December 2007, the National Bureau of Economic Research announced today.
(Excerpt) Read more at washingtonpost.com ...
|
Can’t wait to see whose taxes will be raised, and whose taxes will be cut. Things have taken a different spin.
This is Bull. If anyone is to blame it is the Newly elected Democrat Congress from 2006 who took office in January of 2007.
The good news is that by the time the economists discover a recession, it is usually almost over.
As the left again seeks to redefine more words to their advantage.
The economy (growth) peaked. So, if growth declines two consecutive quarters, that is the new socialist definition of recession, as opposed to the dictionary: two consecutive quarters of negative GDP.
This is the same as saying government spending was predicted to grow 9%. This year we are only spending 8% more, therefore, we are cutting spending 1%.
Don't fall this historical deconstruction.
yitbos
I fail to see what is official about the opinion of a single not for profit group.
WTH is the “National Bureau of Economic Research”?!
Lets make it sound even worse... by redefining “recession”.
My understanding, the term “recession” is defined (in economic terms) as a decline in a country’s gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year.
But the “official announcement” uses the other, less accepted definition of the term as a downward trend in the rate of actual GDP growth as promoted by the business-cycle dating committee of the National Bureau of Economic Research. That private organization defines a recession more ambiguously as “a significant decline in economic activity spread across the economy, lasting more than a few months.
And anyone want to take a stab why this is definition being used? Think about it - if a recession is claimed to have developed in the last couple of months, then some can be attached to Obama. But backing up the “start date” to December 2007 (the peak of economic growth) would make it more of a “Bush problem”.
We just can’t have Obama taking ANY blame.. after all, he is the (ineligible to serve as POTUS) OBAMAMESSIAH!!!!
Well hell, even then it can't be a recession, because IIRC, in 4q of 07 GDP went DOWN .7, in 1q of 08 it went up .9, and in 2q of 08 it went up 2.3....HOW IN THE WORLD IS THAT A 'DOWNWARD TREND'???
I mean, I thought economists were scientists of a sort how is an ambiguous definition ANY SORT OF SCIENCE?????????
Answer: it isn't. This stinks like a rotten fish of politicizing.
Man, I really am beginning to feel like the last days of the Republic are upon us.
Erm, doesn’t the economy need to, well, RECEDE in order for there to be a “recession?”
Just not growing as fast as one would have liked is not receding.
bingo...
As the left again seeks to redefine more words to their advantage.
Exactly! I will not associate with those that do not renounce the current rash of dem ploys to ruin the country!
“The good news is that by the time the economists discover a recession, it is usually almost over.”
I wouldn’t count on this being a short recession. The Fed’s usual tools may not be effective because the cause of this recession is different.
” as opposed to the dictionary: two consecutive quarters of negative GDP.”
The NBER has been the referee of recessions since the 1920s. They don’t use the definition of “two consecutive quarters of negative GDP” no matter how often that idea gets repeated.
It’s Orwellian. I guess we’re all free to use any damn definition we want for any damn term describing the economy. I’ve never before heard a slowing in growth described as a recession. Up until this summer when did the economy contract?
Democrats disgust me as much as they do you but I cannot for the life of me understand why you can’t seem to comprehend that Republicans also had to vote yes in order to get these Bills out of Committee and onto the floor for a vote, where once again Republicans also had to vote yes in order to pass the Bill. This was a joint FUBAR, not solely the Dims.
Then to top it off, our compassionate Republican President put his signature on the Bill and made it all happen!
Continue placing the blame on the Left and you’ll never understand how our government functions.
“Democrats disgust me as much as they do you but I cannot for the life of me understand why you can’t seem to comprehend that Republicans also had to vote yes “
When did the republicans vote to change the definition of recession? That is what I am referring to. OOOPS That is to which/what I refer?
Read the last two paragraphs
Two of these eight Air Heads are based in Berkeley Ca and are MARRIED TO EACH OTHER!!!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
