Recession Ended in November 2001

[Yavin4]

Okay, now everyone go out and enjoy this recovery!!</sarcasm>

What a bunch of crap!


Excerpt:
"Rather, the committee determined only that the recession ended and a recovery began in that month," it said.

It's possible, though not likely, that the committee could conclude that the U.S. economy had entered another recession since November 2001 if the current slump were to worsen.

The committee, considered the most authoritative historian of U.S. recessions and expansions, uses a variety of economic indicators to judge the peaks and valleys of economic activity, including quarterly gross domestic product estimates and monthly data on jobs, income, sales and output.

http://cbs.marketwatch.com/news/story.asp?guid=%7B7AF012D3%2DC357%2D48E9%2DBBFF%2DC755B89A58B8%7D&siteid=mktw

[Nottingham]

1. This IS CRAP! Helluva a recovery! More Unemployment!

:bounce:

[Lexingtonian]

2. Well, duh

That's when the massive deficit spending by the Bushies begins. (Amount of deficit spending) > (Amount of economic 'growth'), so the amount of money in active circulation goes up while the national accumulated wealth gets net consumed at a rate of a few hundred billion a year.

But it takes no new people hired to just burn up and redistribute the wealth that already exists, hence no new jobs.

I have never understood why selfprofessed capitalists don't see deficit spending as the burning up of capital in return for IOUs, but then again the religions centered on Wall Street have always struck me as particularly manipulative and hallucinatory.

[Laughing Mirror]

3. NYC recession lingers, however, for 9th consecutive quarter

minus 2.7 percent

http://www.comptroller.nyc.gov/bureaus/bud/Summary_economic_notes.shtm

[CBHagman]

4. White House is still claiming recession was "inherited"

It started in March and ended later that year -- or may be still going on. New White House mouthpiece Scott McClellan is repeating the "we inherited a recession" garbage almost as I type this. Lying, evil, selfish creatures.

[underpants]

5. Revisionist economics-Not inherited and it end 2 months after 9/11?

Huh?

No W didn't inherit THIS (other things yes but not this) and they figure the recession ended 2 months after Sept.11,2001???? Uh then what about all the excuses?

[Yavin4]

6. Don't Forget Greenspan's Interest Rate Cuts

Those cuts alone pumped more dollars into the economy.