The feared recession in the US economy has already arrived, according to a report from Merrill Lynch. It said that Friday’s employment report, which sent shares tumbling worldwide, confirmed that the US is in the first month of a recession…
An official ruling on whether the US is in recession is made by the National Bureau of Economic Research, but this decision may not come for two years…
It bases its assessment on final figures on employment, personal income, industrial production and sales activity in the manufacturing and retail sectors…
Merrill also objected to the use of euphemistic terms for the state of the economy.
“To say that the backdrop is ‘recession like’ is akin to an obstetrician telling a woman that she is ‘sort of pregnant’”.
Another aspect of the discussion – predictably – is the “I’m all right, Jack” crowd – who really don’t give a damn about anyone else, anyway.
#5. Yeah, those Wall Street pinkos should get off Bush’s back!
#20, Me? Nope. Gold is international. Someone buying lots of it elsewhere is making it scarce here. The price increase is making me nervous, but I’d want to see more.
Imagine what Kyoto would have done to the US economy, though.
There are basically no tech jobs north of San Francisco all the way to the Oregon Border… Now what is that? If you are over 40 and don’t have a PHD in computer sci or networking you might as well jump in front of a train.
Funny how this is listed as a recession. We’ve been in recession since the FED raised interest rates to stop higher wages in 1997. Bush has been printing money like mad. This has helped keep most of the recession symptoms hidden. Falsifying data has helped cover the rest. We’ve just reached the point where it can’t be covered up any longer. The only thing that will bring us out of this recession is more jobs and more taxes collected from those with jobs. Sound familiar?
I don’t know, I work for an engineering firm, and we can’t find enough good engineers and are literally turning down jobs. Even though companies are making sick profits, they’re also spending that money to make more money.
#5, Thomas,
This sounds more like people wanting the economy to be bad so they can blame Bush.
Why, of all things, do people want to find more things to blame Bush for? I can’t think of one thing Bush has done that has helped America. If anything, we want his term over so the country can move on.
#26
Let’s be honest here. You are so blinded by hate for Bush that it is not possible in your mind for anything he does to be good for country. Look, I’m no fan of Bush. He was elected twice because both his opponents were slightly bigger losers than he. Yet, that does not mean that everything he has done has been bad. I remember hearing this same sort of nonsense from liberal nuts near the end of Reagan’s term and from right-wing nuts at the end of Clinton’s term.
#27, Thomas,
Let’s be honest here. You are so blinded by hate for Bush that it is not possible in your mind for anything he does to be good for country.
Alright Mr Know it all, could you name one thing that Bush has done that helped America be a better place?
Oh well, there is the homophobic outrage he showed, if blatant hatred counts.
Or, there is the Lots of Children Left Behind Act, ’nuff said.
Of course, when he swore that he wouldn’t rest until Osama bin Laden was hunted down and killed, has he slept yet?
We can’t forget his massive Social Security overhaul, has it helped you any?
And his intensive Immigration Reform Act, oopps, still waiting on that one.
And his policy of caring for the troops, all dressed in battle gear for the photo-ops.
And, alright, I fucking give. Bush has done nothing to help this country. He did do a few things that have helped out his rich buddies and the oil industry in general, but not ordinary Americans.
Do Mighty Micro Economists see things better than mere mortal Americans? Are we incapable of judging what is good because a Mighty Micro Economist has declared it is good? Can a nut job right wing nut know what is good for us that we don’t know? C’mon, let’s be honest here.
#28
Sorry, but I won’t get into this discussion with someone blinded by hate. No example or evidence I provide will satisfy someone with such hatred. I will simply close with the fact that fervent opponents of the presiding administration have always argued that “nothing good came from” said administration. The more polarized the country, the more you hear it.
#29, Thomas,
No example or evidence I provide will satisfy someone with such hatred.
Go ahead, try us. I dared you to provide an example. ONE little fucking example where this administration has done anything that didn’t help their wallets a lot more.
C’mon, just one example. Just to see if I missed something when I was last in the can.
Hey all,
I just wrote an article about recessions. I thought it might be interesting for everyone to know that we CAN have a recession without ANY quarters of negative economic growth. Want to find out how? Read about it on my blog. econpolitik.wordpress.com
-m
You people say we are Bush hatters and we want to make stuff up to futher hate him. If you understand those words that dont exist or half the stuttering that comes from his mouth, maybe your a puppet to him as he is to his oil friends. Three words OIL, OIL, OIL. Why is spending low….hm…de-de-de. PRICES ARE HIGH>>>Why you ask….de-de-de…Funding Bushs neverending good for nothing War over invented stuff like…weapons of mass destruction? Oh they wernt there by the way. Are you so blind to think that the world is full of flowers and that jackass sits atop of one. This isnt the 70s. Bush and his cronnies have done nothing but ruin us, rob us blind…..did i say Blind…..hm, and tell us how strong we are…..haaaaaaaaaaaaaaaaa
One thing ive learned, is that they are all crooks…….just vote for the one that wants to share a little of their stolen treasure.
Why are we in a recession………..which by the way….WE ARE DIP@#$*>>>>>>>>>
Do grt on “Bushs back and ask”
ps….Thomas
Instead of buring that holier than thou head in the sand or up the person your “not so fond of”s ass, why dont you answer some of these questions people have asked. Your the blind one. We have eyes wide open to what weve been shown; and thats BULLSHIT. Its not hate, its utter dissapointments of false promises, false svision of our economy, and too much stuttering.