Is our recession over with unemployment at a shocking 9%

United States
August 12, 2009 7:19pm CST
So, here is my thought. I was watching the news today which I do not do that often because I get to upset from it. I wanted to make this a discussion to see what you're thoughts are on it. I'm trying to figure out how some people think ( mostly economist) think that the recession is over and that just because we get one good quarter means that it's only healthy to say that the next 6 or 7 quarters are going to be that healthy with the unemployment rate from lower than 5% in 2000 to higher than 9% now. Yes more and more are spending money but its only because they have been saving what little they have to pay bills for the next month. Things still have to paid, houses still have to have there mortgage paid. a car payment or insurance has to be paid to keep the over all cost of future occurrence of something bad happening down to a minimum. How can we say that the recession is over when no more than 300 people at a time are applying for one position. When one is opened online- thousands respond and only a few get chosen. How is it that a recession is over when the automakers think that because they have this cash for clunkers plan in place that millions will be flocking in for this. Well, guess what I can't. I done the right thing when I bought my car and bought a 1991 honda accord and because I miss the year by 8 years and the mileage on my car gets 27 miles to the gallon. I can't get a good price for my trade in if i was to take it in right now. so are we really in a "recession is over lets take a deep breath kind of mood" with the fight over deficit and health care costs still continuing to be a burning subject?
1 person likes this
2 responses
@Rollo1 (16686)
• Boston, Massachusetts
13 Aug 09
I absolutely don't believe a word they say, it's all political. In the year running up to the election they kept declaring a recession even though the economic indicators didn't support that. A recession cannot be declared until there are two consecutive quarters of negative growth. We didn't have that, yet they kept insisting that we were in a recession. Coupled with the natural adjustments in the terribly inflated housing market, this destroyed consumer confidence. Soon, we managed to slip into a real recession which has only been made worse by this administration's financial policies. Now that people are more concerned about the economy than they are about health care but the administration is determined to get that bill passed, suddenly in the face of record unemployment and the stock market closing at its lowest in five weeks, Hurrah! the recession is over. Yeah, right.
• United States
13 Aug 09
i don't know how they will get it passed, with so many opposing it now. It would take a miracle for it to pass in both sides and them agree on something that would work. I don't think either plan would benefit us right now. i think they need to go back to the drawing board.
@mensab (4207)
• Philippines
13 Aug 09
i think that there is a general consensus that the recession is not yet over. we are not yet out of the woods. however, there are signs that the recovery is on the way. i would like to agree that things are shaping to the way we all want them to be - getting better instead of getting worse. the unemployment rate halted the momentum of reaching 10% which was predicted. i think it is a good sign. some companies are posting profits. home sales are again on the rebound. but again, things are very volatile and fluid. anytime, we can slide to worse if we don't capitalize on the gains we are getting now.
• United States
13 Aug 09
it does look good from the outside but look at where we have been to what is going on right now. Grant it I know it was predicted about the unemployment but dang did they have to be right? anyways, thanks for responding happy myLotting