CNN Breaking News: Recession Ended in June 2009

[scooterbug44]

I was always taught that these economic pronouncements were just mathematical and rarely mean much to the average American.

The data says we hit rock bottom and are now heading back up, but are still deep in a big ol' hole.

And the only way we are going to get out of it is if people drastically change their habits.

 

[Lynnie]

It wasn't just on CNN. The report was from the National Bureau of Economic Research, also known as the Official Declarers of When There is a Recession and When Growth is Going Gangbusters.

Monday's report said:

What they fail to note is that GDP grew 1st qtr 09 by 1.9%, taking it out of the red as far as continued decline, but we were still negative. Second qtr, grew by 4.2%, but still negative and this is where they determine we turned the corner. Third and fourth qtrs showed positive GDP. Typically, the GDP numbers are adjusted for inflation as well - anyone know what this measurement is? I'd be willing to bet this is the current variable that is the manipulator with our fancy gov't office telling us the recession has ended.

Our growth is considered healthy between 2.5-3%. Currently we are at 1.6%. From Jan. - June 30, 2010 we hit another two consecutive quarters of reduced GDP......by all definition, we are in another recession, but, of course, no one will report this until 2011.

 

[Bob]

new normal, with no return to the free money days.