 Brian Wingfield says: Want to prove wrong the pundits who, earlier in the year, insisted the U.S. was not in a recession. Here's your answer. The National Bureau of Economic Research, the leading arbiter on these sorts of things, says the U.S. has been in a recession following a peak of economic activity in December 2007. Not that anyone hasn't already noticed. Anywhere from 6 to 18 months.So, the recession started about the time it looked like Obama would win the Dem nomination, stepped up tempo when it looked like he would win the presidency, and went into free fall when he won the presidency? Now, we are asked to give Obama 24 months to fix the economy that, given historical fact, would fix itself in approximately 12 to 18 months? Oh yes that's brilliant analysis Willie. The recession has absolutely nothing to do with the housing bubble rupture, failed mortgages causing the liquidity in CDO bond markets to dry up. Talk about your intellectual dishonesty. You are the king. Lengths of recessions: 1929 lasted 43 mos. 1937 - 13 mos 1945 - 8 mos 1948 - 11 mos 1953 - 10 mos 1957 - 8 mos 1960 - 10 mos 1969 - 11 mos 1973 - 16 mos 1981 - 16 mos 1990 - 8 mos 2000 - 8 mos Some bad. Some not so bad. Wording should be "could" fix itself not "would" fix itself. Historical data is just that, historical, and cannot say with 100% accuracy what is taking place today. Many of the mainstream economists say that without action this would be a depression. It's also disingenuous to paint the much of the 30's as good economic times although they don't fit the technical definition of a recession because the economy had hit rock bottom and was beginning the long arduous journey of getting back to where it was. And you never addressed the fact that your are being intellectually dishonest by insinuating that Obama's impending election was the root cause of the economic meltdown. Wording should be "could" fix itself not "would" fix itself.No, the wording is exactly right. Recessions eventually cycle away regardless of anything government does, positive or negative. Just like recessions will always come regardless of anything government does, positive or negative. Recessions have ended but to say that economic times were good is intellectually dishonest. Even when GDP was on the rise after reaching rock bottom in the depression that doesn't mean people had homes, savings, jobs, or hope. GDP doesn't measure everything. Only a fool would believe that just because a period of time was no longer classified as recession meant that economic prosperity existed. So if you want to be technically ridiculous, yes a recession/depression will end as long as even a whisper of an economy exists because once it improves for a period of time the economy no longer fits the technical definition of recession. An intellectually honest person doesn't quibble over symant... There has never been anything in the history of western civilization as an "unmanaged economy". And I am not quibbling over semantics, you are. I am quibbling over facts. Again, FACT: recessions will come no matter what and they will end no matter what. That they would come and go is irrelevant, unless the whole basis for your argument is that everything is cyclical. FACT: Just because GDP ticks up does not mean that economic prosperity is achieved. |
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