"Great Recession" In U.S. Comming to a close? |
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MartinW
Moderator in Command Joined: 31 Mar 2008 Location: United Kingdom Points: 26722 |
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Posted: 14 May 2009 at 10:05am |
Exactly, even in my dire financial situation I have noticed zero effect from the recession. On the contrary, with the mortgage rate low I'm better off. My daughter said the same thing to me yesterday; she was discussing this with her friends at school. Agree with you entirely magic. For the average person it's a nonevent. |
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johnsmithfsx
Chief Pilot Joined: 29 May 2008 Location: United States Points: 3391 |
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The reason for the title being "Great Recession" (note the quotation marks) was because a lot of people do seem to consider the economic downturn to be a recession.
As to the UK's current economic situation: Sadly, that is true Vulcan. http://www.bloomberg.com/apps/news?pid=20601087&sid=a1ZtwKIe2.18&refer=home |
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Magic Man
Chief Pilot Joined: 02 Apr 2008 Location: South Wales Points: 5336 |
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Was there actually a real recession at all...?
Yes, stock prices fell through the floor because everyone panicked, stock sales were allowed to stay open so even more virtual money was wiped away resulting in the big banks and companies loosing vast reserves.
The media then went into a frenzy telling us all that we are in a recession resulting in people cutting back on buying luxury items causing those manufacturers to fail and start cutting jobs.
Speaking personally, we've noticed no difference apart from a reduced interest on any savings. Prices haven't shot up (except where those are linked to exchange rates). My job is secure so we haven't cut back on things we would have bought anyway. Those with mortgages would have seen a good reduction in their rates.
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VulcanB2
Chief Pilot Joined: 02 Apr 2008 Points: 13365 |
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Global cause, local problem.
For all the talk of a "global" economic downturn, the problems are very much local to each country. We are in a very bad state at present. We aren't going to recover as quick as the US. Best regards, Vulcan. |
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johnsmithfsx
Chief Pilot Joined: 29 May 2008 Location: United States Points: 3391 |
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Right. They said that unemployment will likely still be an issue. Although, financially (in terms of inflation and value of the U.S. Dollar), things are expected to to get a little better
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BradS
First Officer Joined: 05 Mar 2009 Location: KIND Points: 347 |
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If only that were true....most of the stats I'm hearing contradict quite a bit of the "We're getting better now..." babble that seems to be seeping out into the media. Yesterday a report was released indicating that the US unemployment for next year is expected to be higher than this year by a couple of points.... Statements like the WP are often aimed at the stock/bond/trading markets, in order to keep them bouyant.... |
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johnsmithfsx
Chief Pilot Joined: 29 May 2008 Location: United States Points: 3391 |
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I hope so too. Although, even if this is a sign that the end of the recession is comming, it will take a while to fully recover.
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ConcordeGuy
Chief Pilot Joined: 05 Apr 2008 Location: Peterborough UK Points: 3734 |
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Hopefully the same thing will happen here-ish!
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Rides a 1999 Kawasaki ZZR600
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johnsmithfsx
Chief Pilot Joined: 29 May 2008 Location: United States Points: 3391 |
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http://www.washingtonpost.com/wp-dyn/content/article/2009/05/07/AR2009050701379.html?hpid=topnews
Nice to find some good news after a while... |
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