Data shows recession worse than we thought

Discussion in 'Economy' started by Ravi, Aug 8, 2011.

  1. Ravi
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    Ravi Diamond Member

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    At the depth of the recession in the fourth quarter of 2008, output plummeted at an annual rate of 8.9 percent -- the steepest quarterly decline since 1958, and 2.1 percentage points more than previously reported.

    The recession was already the deepest since the Great Depression and, while it still pales in comparison, the data help explain why it is taking so long to shake off its legacy.

    Data shows deeper recession, sharper slowdown | Reuters
     
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  2. expat_panama
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    expat_panama Gold Member

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    The Reuters may know a lot about impressing a bit bunch of learning impaired, but they don't know anything about economic data. In the first place, "data" can't be one number, data are many numbers. In the second place, the fourth quarter of 2008 began the recession and ''the depth" came later with new depths are being reached as the data flow in.
     
  3. Ravi
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    Ravi Diamond Member

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    Wuh?

    So you are saying the recession wasn't worse than we thought?
     
  4. Skull Pilot
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    Skull Pilot Platinum Member

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    Anyone but an economist working for the fucking government could have told you that.
     
  5. waltky
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    waltky Wise ol' monkey Supporting Member

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    Recession may be causing women to have fewer or no children, suggests demographer...
    :eusa_eh:
    Economic turmoil taking its toll on childbearing
    8/12/2011 - Women starting families today might not think they have a lot in common with women during the Great Depression, but a new government analysis of birth data suggests otherwise.
    See also:

    Rising demand for oil could lead to global double-dip recession
    August 12, 2011 - Many are forecasting higher oil prices next year, due to increased global consumption and decreased output from Libya and other oil-producing nations. That could threaten global economic recovery.
     
    Last edited: Aug 12, 2011
  6. Ravi
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    Ravi Diamond Member

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    On having fewer children: that's a great argument for legalizing thousands and thousands of immigrants so they can pay taxes.

    :thup:
     
  7. Douger
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    Douger BANNED

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    [ame=http://www.youtube.com/watch?v=ZDN9y2vTdUs]The Doors - The End (1967) - YouTube[/ame]
     
  8. editec
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    editec Mr. Forgot-it-All

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    It may be worse than the government thought.

    It may be worse than world famous economist thought, too.

    But I can assure you that the people on the bottom of the heap totally understood how truly bad it has been.

    The people don't need to be told what the economic indicators are because the people ARE the economic indicators.
     
  9. Mad Scientist
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    Mad Scientist Feels Good!

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    Obviously we need another round of Quantitative Easing. :uhoh3:
     
  10. waltky
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    waltky Wise ol' monkey Supporting Member

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    Is what Warren Buffett said on Charlie Rose last night...
    :eusa_eh:
    Economists: Second US Recession, If It Hits, Could Hit Hard
    August 15, 2011 - Some economists are worried that the United States is poised for another recession. They warn that a so-called "double-dip," if it comes, could be more painful for average Americans than the 2007-2008 recession. Jobs, incomes, output and industrial production are all weaker now than they were then. One sector that has been hit especially hard is housing.
    See also:

    World Bank Chief Warns of New Danger Ahead
    August 13, 2011 - The president of the World Bank is warning the world's already troubled economic recovery is in even greater trouble.
     
    Last edited: Aug 16, 2011

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