When did the recession start?

[drdigi420]

freeper is trying to blame it on Clinton

Dept of Treasury sez March 2001

freeper sez that's bullshit

anyone got any links to prove to him when the recession started?

[CO Liberal]

1. The Recession Started December 12, 2000

The day Billy Rehnquist & The Supremes allowed Pretzelboy to steal the election.

[drdigi420]

3. funny, but I need serious proof

[shaolinmonkey]

2. That's right. Because freepers know more than professional

economists. Nice. Bury your head in the sand, if you can't see the truth, the truth can't see you. Dumbasses.

[rogerashton]

4. March '01 is correct

GDP growth began to slow earlier than that, but remained positive, and you don't have a recession until you have negative growth rates for two consecutive quarters. At least that is the simple version. The NBER uses more complicated criteria, and their dates are the official ones, but -- guess what -- after they torture the numbers, what the numbers confess to is right along the lines of the simple version: negative growth for 2 or more quarters.

Here is the picture at FRED:

http://research.stlouisfed.org/fred2/series/GDPC1/106

[Zynx]

5. I will concede the economy was slowing before then, but...

the main thing here is that Bush's policies have been so ineffective in getting us out of recession. Given how the recession wasn't all that deep, if the Bush stimulus had been allocated properly, we would have gotten rid of the ill-effects of the recession within a year of its end.

[KurtNYC]

6. Enron started it in mid 2000

As they say in their phone calls:
In one tape, an employee says, "You gotta think the economy is going to f------g get crushed, man. This is like a recession waiting to f-----g happen."

So if Enron commits a massive crime against this country during Clinton's term, who would a freeper blame? Hmmmmmmmmm.

http://marc.perkel.com/archives/000263.html

[Yupster]

7. Stock Market hit its high

in April 2000.

Then the tech bubble burst, and a recession was pretty much inevitable after that.

The 2000 stock market was the worst in 20 years. Record didn't last long though because 2001 was worse and 2002 was even worsier.

[Ganja Ninja]

8. About the time that people realized Clinton was leaving and ...

he wouldn't be there to keep things in order. Also around the time gas prices were rising and Greenspan was raising interest rates to slow the economy down. Note how fast Greenspan started cutting rates after the chimp took office. I think it was something like 7 interest rate cuts in the first 8 months.

[papau]

9. Per Wall Street Journal Definition there was no recession

The trend line folks do indeed say a recession began 3/1/01 and ended 11/1/01.

But the folks using the WSJ definition - namely 2 quarters of shrinking GDP in a row - say that given quarter to quarter growth in GDP as revised by Bush folks last year and now the official numbers, there are not 2 quarters in a row where the GDP growth was negative.

So we must blame this continued prosperity on Clinton?

LOL

:-)

[madrchsod]

10. 1999-2000

downturn started in the construction equipment industry,usually the first indication of a downturn. i worked for a company that has been owned by the same family for 100 yrs..they have tracked these downturns for 100 years...

[BlueEyedSon]

11. Link to relevant statistics? thx.

[Strelnikov_]

12. Boosh Did Inherit The Economic Conditions That Led To The 'Recession'

That is, the dot-com bubble. Was the bubble Clintons fault? Not really.

As others pointed out in this thread, the current numbers indicate that the GDP flatlined from about mid-2000 to mid-2001, then began slowly increasing. So, this leads to three questions for the freepers:

1) If GDP has been increasing since mid-2001, how is it that the current economic malaise was caused by 9/11?

2) If we did not slip into a recession, how could Bush inherit a recession?

3) Why, since the economy has been growing for three years, has the job recovery been the most anemic of any post-war recovery? Could this be the result of economic policies geared to the rich?

[rogerashton]

13. Here are the growth rates. They are sort of interesting.

http://william-king.www.drexel.edu/gr.html

We DON'T see two successive quarters of negative growth rates, because there was a slight upturn in the middle of the recession. March is part of the first quarter, in accounting conventions. But there was 6 months (2 quarters in that sense) of negative growth, quarter by quarter: March-May and June-August. Plus Sept-Oct. were also down.

What is interesting is the profound down-turn in the rate of growth that begins early 2000 and continues through the -- ah -- second quarter of 2002. And another the second quarter of 2003, which is ongoing.

Hard times, cotton mill girls.

[proud patriot]

14. slowdown started as soon as they stopped counting the votes in Florida