economic growth picked up 2.5% last quarter

[Rozman]

Been hearing for years now about the great job Obama has done with the recovery.
It's ridiculous to blame anything on the sequester when all it did was cut 2% of the proposed
increase in spending...

Remember all the outrage over the recent FAA cuts in personnel meanwhile the FAA had their budget increased from the year before.

 

[Rozman]

The great Obama recovery destroyed by a 2% cut in increased spending.
You can't make this stuff up.

 

[bigrebnc1775]

so your just a typical lying con like all the rest huh?

The NBER does not define a recession in terms of two consecutive quarters of decline in real GDP. Rather, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

http://www.nber.org/cycles.html

BUSINESS CYCLE
REFERENCE DATES

DURATION IN MONTHS



Peak

Trough

Contraction

Expansion

Cycle



Quarterly dates
are in parentheses

Peak
to
Trough

Previous trough
to
this peak

Trough from
Previous
Trough

Peak from
Previous
Peak




June 1857(II)
October 1860(III)
April 1865(I)
June 1869(II)
October 1873(III)
March 1882(I)
March 1887(II)
July 1890(III)
January 1893(I)
December 1895(IV)
June 1899(III)
September 1902(IV)
May 1907(II)
January 1910(I)
January 1913(I)
August 1918(III)
January 1920(I)
May 1923(II)
October 1926(III)
August 1929(III)
May 1937(II)
February 1945(I)
November 1948(IV)
July 1953(II)
August 1957(III)
April 1960(II)
December 1969(IV)
November 1973(IV)
January 1980(I)
July 1981(III)
July 1990(III)
March 2001(I)
December 2007 (IV)


December 1854 (IV)
December 1858 (IV)
June 1861 (III)
December 1867 (I)
December 1870 (IV)
March 1879 (I)
May 1885 (II)
April 1888 (I)
May 1891 (II)
June 1894 (II)
June 1897 (II)
December 1900 (IV)
August 1904 (III)
June 1908 (II)
January 1912 (IV)
December 1914 (IV)
March 1919 (I)
July 1921 (III)
July 1924 (III)
November 1927 (IV)
March 1933 (I)
June 1938 (II)
October 1945 (IV)
October 1949 (IV)
May 1954 (II)
April 1958 (II)
February 1961 (I)
November 1970 (IV)
March 1975 (I)
July 1980 (III)
November 1982 (IV)
March 1991(I)
November 2001 (IV)
June 2009 (II)


--
18
8
32
18
65
38
13
10
17
18
18
23
13
24
23
7
18
14
13
43
13
8
11
10
8
10
11
16
6
16
8
8
18


--
30
22
46
18
34
36
22
27
20
18
24
21
33
19
12
44
10
22
27
21
50
80
37
45
39
24
106
36
58
12
92
120
73


--
48
30
78
36
99
74
35
37
37
36
42
44
46
43
35
51
28
36
40
64
63
88
48
55
47
34
117
52
64
28
100
128
91


--
--
40
54
50
52
101
60
40
30
35
42
39
56
32
36
67
17
40
41
34
93
93
45
56
49
32
116
47
74
18
108
128
81





--------------------------------------------------------------------------------




Average, all cycles:
1854-2009 (33 cycles)
1854-1919 (16 cycles)
1919-1945 (6 cycles)
1945-2009 (11 cycles)


17.5
21.6
18.2
11.1



38.7
26.6
35.0
58.4



56.2
48.2
53.2
69.5



56.4*
48.9**
53.0
68.5








* 32 cycles
** 15 cycles



Source: NBER

The determination that the last expansion began in June 2009 is the most recent decision of the Business Cycle Dating Committee of the National Bureau of Economic Research.



Announcement Dates with Links to Announcement Memos



Turning Point Date

Peak or Trough

Announcement Date with Link



June 2009

Trough

September 20, 2010



December 2007

Peak

December 1, 2008



November 2001

Trough

July 17, 2003



March 2001

Peak

November 26, 2001



March 1991

Trough

December 22, 1992



July 1990

Peak

April 25, 1991



November 1982

Trough

July 8, 1983



July 1981

Peak

January 6, 1982



July 1980

Trough

July 8, 1981



January 1980

Peak

June 3, 1980


Other Related Press Releases:
April 12, 2010
January 7, 2008
October 21, 2003
December 21, 1990
December 31, 1979
October 25, 1979
July 27, 1979



Prior to 1979, there were no formal announcements of business cycle turning points.



--------------------------------------------------------------------------------
The NBER does not define a recession in terms of two consecutive quarters of decline in real GDP. Rather, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. For more information, see the latest announcement from the NBER's Business Cycle Dating Committee, dated 9/20/10.
Source:

Public Information Office
National Bureau of Economic Research, Inc.
1050 Massachusetts Avenue
Cambridge MA 02138
USA
617-868-3900

Permission to copy is granted, provided credit is given

UH OH
Permission to copy is granted, provided credit is given

 

[AmazonTania]

can you explain why the broker rules were held back for 8 + years?

May I have a map to this particular sentence? What exactly are you trying to ask?

 

[Truthmatters]

List of recessions in the United States - Wikipedia, the free encyclopedia



Great Recession

Dec 2007 – June 2009[48][49]

1 year
6 months

6 years
1 month

10.0%
(October 2009)[50]

−5.1%

The subprime mortgage crisis led to the collapse of the United States housing bubble. Falling housing-related assets contributed to a global financial crisis, even as oil and food prices soared. The crisis led to the failure or collapse of many of the United States' largest financial institutions: Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers and AIG, as well as a crisis in the automobile industry. The government responded with an unprecedented $700 billion bank bailout and $787 billion fiscal stimulus package. The National Bureau of Economic Research declared the end of this recession over a year after the end date

same date I gave

 

[Truthmatters]

can you explain why the broker rules were held back for 8 + years?

May I have a map to this particular sentence? What exactly are you trying to ask?

WOW and you claim to be a broker?


how long you been a broker dude?

 

[Truthmatters]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

 

[AmazonTania]

June 2009

is when your own link says the recession ended

In terms of GDP, because a recession typically is defined by two or more financial quarters of negative economic growth. Maybe you've missed that lesson in that economics class you never took.

Last time I checked, unemployment was still getting worse, wages were still falling, people were still leaving the labour force and general production/sales were stagnant long after the recession 'technically' ended. Is any of this consistent with an economic recovery?

 

[AmazonTania]

WOW and you claim to be a broker?


how long you been a broker dude?

Being a Stock Broker doesn't keep me immune from poorly phrased questions.

 

[Truthmatters]

so your just going to ingore the questions and continue to provide no new facts and JUST claim you have made some point?

 

[AmazonTania]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

I'm sure you have a point. I'm just not sure what it is...

 

[Truthmatters]

WOW and you claim to be a broker?


how long you been a broker dude?

Being a Stock Broker doesn't keep me immune from poorly phrased questions.

How many Brokers rules were held back for 8+ years ?


This is HUGE stuff in the broker world to NOT have regulations for nearly a decade.

how the hell could you not know about it and call yourself a professional?

 

[Truthmatters]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

I'm sure you have a point. I'm just not sure what it is...

your lost huh?


so much for your claims of knowledge

 

[AmazonTania]

How many Brokers rules were held back for 8+ years ?


This is HUGE stuff in the broker world to NOT have regulations for nearly a decade.

how the hell could you not know about it and call yourself a professional?

This is false. The Securities industry was and is heavily regulated even to this day. Especially with the Patriot Act, one of the provisions which forces me to spy on my clients to make sure money is not being laundered to shady individuals.

But there was never any deregulation in my industry.

 

[Truthmatters]

that is an SEC release document honey buns.

its undeniable.

You got a series 6 or a series 7 ?

 

[AmazonTania]

your lost huh?


so much for your claims of knowledge

I can only assume you believe that the repeal of Glass-Steagall and the implementation of Gramm-Leach-Bliley lead to the financial crisis. This is patently false, and generally only drummed up by people who really don't understand the purpose of the two acts.

 

[Truthmatters]

yes the repeal of glass steagal was part but also the refusal of the Busbh SEC to impliment the broker rules in GLBact was a real kicker

 

[AmazonTania]

that is an SEC release document honey buns.

its undeniable.

You got a series 6 or a series 7 ?

It's undeniable that your comprehension is left to be desired. But I digress.

Not that I like to divulge too much into my profession, I have a series 7.

 

[Truthmatters]

Parsons Blames Glass-Steagall Repeal for Crisis - Bloomberg

 

[Truthmatters]

Glass-Steagall Act: The Senators And Economists Who Got It Right