Worst of the recession is over

Discussion in 'Economy' started by Chris, Oct 12, 2009.

  1. Chris
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    Chris Gold Member

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    WASHINGTON (Reuters) - The worst U.S. recession since the Great Depression has ended, but weak household spending as the labor market struggles to create jobs will slow the pace of the economy's recovery, according to a survey released on Monday.

    The survey of 44 professional forecasters released by the National Association of Business Economists (NABE) found that 80 percent of the respondents believed the economy was growing again after four straight quarters of declines.

    "The great recession is over," said NABE President-Elect Lynn Reaser.

    "The vast majority of business economists believe that the recession has ended, but that the economic recovery is likely to be more moderate than those typically experienced following steep declines."

    Recessions in the United States are dated by the National Bureau of Economic Research. The private-sector group, which does not define a recession as two consecutive quarters of decline in real gross domestic product, often takes months to make determinations.

    The current recession that started in December 2007 is the longest and deepest since the 1930s.

    Worst of the U.S. recession over: survey | Special Coverage | Reuters
     
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  2. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    [ame=http://www.youtube.com/watch?v=__VQX2Xn7tI]YouTube - carpenters -We've Only Just Begun[/ame]
     
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  3. REVxERIK
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    REVxERIK CLASSIC LIBERAL

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    well, at least it's not getting worse.
     
  4. California Girl
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    What a relief!......

    Now, if only I can find my 'gullibility on' button.
     
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  5. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    were you guys saying this back in June?
     
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  6. Dr.Traveler
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    Dr.Traveler Mathematician

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    I'd be hesitant to say we're out of the woods yet.

    According to folks I know in real estate and mortage lending, the commercial real estate bubble is bursting as we speak. It just isn't getting press. There's still the credit bubble. Things have gotten better for small businesses, but there's still personal credit lines that are in for a burst.

    We could be clear of this, I'd just be hesitant to break out the party favors and pointy hats yet.
     
  7. California Girl
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    Yes, but everybody laughed. So they're giving it another shot....

    Santa Claus is coming to town. LOL.
     
  8. eagleseven
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    eagleseven Quod Erat Demonstrandum

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    This "Great Recession" has been over since February!

    Unemployment is a lagging indicator, which is why, 7 months later, it's still going up. Don't believe your checkbook...the great minds who predicted this disaster think it's all over!
     
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  9. California Girl
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    California Girl BANNED

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    The Commercial Market hasn't finished impacting yet.... it's gonna get worse - according to the Economists that I work with.
     
  10. froggy
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    froggy Gold Member

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    the worst is not over until more than half the unemployed get back to work.
     

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