No Recession

[Jokerswild]

The president says we're not headed for a recession and the stimulus package will kick us out of this slight downturn.

"We acted robustly," he said. "We'll see the effects of this pro-growth package," Bush told reporters at a White House news conference, acknowledging that some lawmakers already are talking about a second stimulus package. "Why don't we let stimulus package 1, which seemed like a good idea at the time, have a chance to kick in?"
Bush's view of the economy was decidedly rosier than that of many economists, who say the country is nearing recession territory or may already be there. "I'm concerned about the economy," he said. "I don't think we're headed to recession. But no question, we're in a slowdown."




This guy must be on some good drugs. Glad we're getting rid of him soon.

[screwballl]

nah, the liberal based media is freely distributing as much info as possible with blame pointed at the conservative office.... it is not nearly as bad as they say it is... sure it is slow but not as bad as they say

[Jokerswild]

Wait for the credit card crunch next.

[Stormcrow]

Liberal, conservative...those two terms irritate me to no end.

[screwballl]

true... the liberals wanted to increase spending across the board and increase taxes, conservatives wanted to cut spending and taxes... so what we got was the increased spending with the tax cuts which caused the slump we are now in (well I believe it was because of the dumb banks and investors artificially inflating the housing market)

[Capper]

Originally Posted by Jokerswild

The president says we're not headed for a recession

We're not headed for a recession because we're already there.



"Pay no attention to the man behind the curtain....here take this $800 and go spend it, everything will be fine."

[screwballl]

recession is usually tied into low income and low prices nationwide.... in this case we have low income and increased prices pointing to more of a inflation period since alot of stuff is too expensive due to lower incomes. Perfect example is gas prices... last recession we had gas prices dropped 25cents per gallon or more... right now gas is going up every other day ($3.249 here).

[drew and not u]

Originally Posted by Capper

We're not headed for a recession because we're already there.

Exactly. I mean, the dollar is now worth half of a British pound!

[onebxr]

Originally Posted by drew and not u

Exactly. I mean, the dollar is now worth half of a British pound!

Canadian money is equal to the dollar! Wow, we are finished!
-1

[Capper]

I think you need to put .25 gas into perspective, that was the mid to late 70's, with a far different climate when it came to resources.

In macroeconomics, a recession is a slowdown in a country's gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year.
An alternative, less accepted definition of recession is a downward trend in the rate of actual GDP growth as promoted by the business-cycle dating committee of the National Bureau of Economic Research.[1] That private organization defines a recession more ambiguously as "a significant slowdown in economic activity spread across the economy, lasting more than a few months." A recession may involve simultaneous declines in coincident measures of overall economic activity such as employment, investment, and corporate profits. Recessions may be associated with falling prices (deflation), or, alternatively, sharply rising prices (inflation) in a process known as stagflation. A severe or long recession is referred to as an economic depression. A devastating breakdown of an economy (essentially, a severe depression, or a hyperinflation, depending on the circumstances) is called economic collapse. Newspaper columnist Sidney J. Harris distinguished terms this way: "a recession is when your neighbor loses his job; a depression is when you lose your job."