Who Says There's No Recession

[Lady's Human]

My point, very simply, is this. Stories like this happen all the time, and are not proof of a recession.

[Medusa]

My point, very simply, is this. Stories like this happen all the time, and are not proof of a recession.

Agreed.

[lizbud]

My point, very simply, is this. Stories like this happen all the time, and are not proof of a recession.

I disagree. It happens in much greater numbers than it ever has before.

I can't remember another time when prices on EVERYTHING has risen in
record numbers & personal income has stagnated or stopped altogether,
by layoffs or plant shutdowns. All these things plus the mortgage mess,
has led to this. Calling it a economic slowdown if it makes you feel better
but it sounds like full fledged recession to me.

[Medusa]

Calling it a economic slowdown if it makes you feel better but it sounds like full fledged recession to me.

I can't speak for others but I'm not disagreeing that we're in a recession. I am, however, agreeing that situations such as the one on the posted video, have existed regardless of the economic conditions.

[Lady's Human]

I can't remember another time when prices on EVERYTHING has risen in
record numbers & personal income has stagnated or stopped altogether,
by layoffs or plant shutdowns.

Try the late '70s to early 80s? That was made worse by a prime interest rate in the teens, combined with unemployment near 10%, as opposed to a prime rate now around 5% and unemployment around 4%.

Here's a graph of unemployment data:

http://www.csus.edu/indiv/j/jensena/sfp/us/US-UR-50.htm

inflation data:

http://en.wikipedia.org/wiki/Image:U..._Inflation.svg

and Prime interest rate data:

http://research.stlouisfed.org/fred2/data/PRIME.txt
(look at the prime rate for 1978-1982 and figure what your prime+10% charge account would be at those rates)

[Catlady711]

Try the late '70s to early 80s? That was made worse by a prime interest rate in the teens, combined with unemployment near 10%, as opposed to a prime rate now around 5% and unemployment around 4%.

Here's a graph of unemployment data:

http://www.csus.edu/indiv/j/jensena/sfp/us/US-UR-50.htm

inflation data:

http://en.wikipedia.org/wiki/Image:U..._Inflation.svg

and Prime interest rate data:

http://research.stlouisfed.org/fred2/data/PRIME.txt
(look at the prime rate for 1978-1982 and figure what your prime+10% charge account would be at those rates)

I was just thinking of the 70's, the lines at the pump, out of gas signs, and heck even lines twice as long for a single ad saying now hiring. Only good side of it was the money I had in a CD earning a whopping 12% interest!! Sheesh I should be grateful for my one earning 5% because the rest are about 2-3% and going down.

[Giselle]

Well, there's always a light at the end of the tunnel.

It's the business cycle. After a recession, there (should/hopefully) will be economic prosperity. Should be... That's humanity, isn't it? Out of our mistakes and folly come knowledge and solutions. Or at least that's how it SHOULD be

[Karen]

Well, there's always a light at the end of the tunnel.

It's the business cycle. After a recession, there (should/hopefully) will be economic prosperity. Should be... That's humanity, isn't it? Out of our mistakes and folly come knowledge and solutions. Or at least that's how it SHOULD be

Yes, but here's hoping it comes sooner, rather than later. This country has been through a Great Depression before, I'd rather not have it happen again.