Talk of Worst Recession Since the 1930's

[Debsters]

I've never posted a new thread before, so I hope this link works.


http://www.nysun.com/article/66268

[sometime soon]

It works and good job and welcome and I would agree we are in for some very tuff times.

[tygerkittn]

I posted this link elsewhere but it's an interesting story, I had never heard about FASB 157.
http://www.theglobeandmail.com/servlet/story/LAC.20071109.RKOZA09/TPStory/

[CelticMist]

I don't think we were in one when the current admin came to office...

After all we were in the black not red when the old one went out and new one come in.

Seems we have seen nothing but deeper blood red for at least 5yrs.


What causes a recession? Are we headed for a depression? I know there was a thread that asked similar questions.. but seems to die out.

Recession ~~ "a Recession is a decline in any country's Gross Domestic Product (http://en.wikipedia.org/wiki/Gross_Domestic_Product) (GDP), or negative real economic growth (http://en.wikipedia.org/wiki/Economic_growth), for two or more successive quarters (http://en.wikipedia.org/wiki/Fiscal_year) of a year. However, this definition is not universally accepted. The American National Bureau of Economic Research (http://en.wikipedia.org/wiki/National_Bureau_of_Economic_Research) defines a recession more ambiguously as "a significant decline 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 (http://en.wikipedia.org/wiki/Deflation)), or, alternatively, sharply rising prices (inflation (http://en.wikipedia.org/wiki/Inflation)) in a process known as stagflation (http://en.wikipedia.org/wiki/Stagflation). A severe or long recession is referred to as an economic depression. A devastating breakdown of an economy is called economic collapse (http://en.wikipedia.org/wiki/Economic_collapse). Newspaper columnist Sidney J. Harris amusingly distinguished terms this way: a recession is when you lose your job; a depression is when I lose mine.

Market-oriented economies are characterized by economic cycles, but actual recessions (declines in economic activity) do not always result. There is much debate as to whether government (http://en.wikipedia.org/wiki/Government) intervention smoothes the cycle ......" http://en.wikipedia.org/wiki/Recession

definition: from http://www.answers.com/topic/recession?cat=biz-fin

The act of withdrawing or going back.
An extended decline in general business activity, typically two consecutive quarters of falling real gross national product.
The withdrawal in a line or file of participants in a ceremony, especially clerics and choir members after a church service."A significant decline in activity spread across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP).
Investopedia Says:
Recession is a normal (albeit unpleasant) part of the business cycle. A recession generally lasts from six to 18 months.

Interest rates usually fall in recessionary times to stimulate ...." from url above.

When did the "recession" really begin?

[MoreThanReady]

The article and title of the thread is an over reaction.. markets go up and go down, it has been going up for so long, people forget that it has to come down some.

[CelticMist]

The article and title of the thread is an over reaction.. markets go up and go down, it has been going up for so long, people forget that it has to come down some.
time will tell if it will climb back up and how far up it does climb.

[pobsn]

If we have a recession I doubt it will have anything to do with the President or congress, but will come as a result of people's flippant attitudes towards personal debt. I can't even begin to count how many of my co-workers, classmates, or family members are neck-deep in credit card debt and are confused why they can't get out. At the same time they drive new cars, refuse to work to pay for school, and rely on cell phones, premium cable, and high-speed internet. Wonder what goes through their heads?

[keylan]

The debt problem is definatly on of the biggest problems. But the Federal Reserves recent moves to lower intrest rates, has really put the nail in the coffins of many financially responsible people. IMO the fed choose the banks and big boys over the american people.

[Cameron]

Yup! I am getting ready to retire and was going to put my retirement account into CDs, but the yields have dropped in order to save Wall Street instead of Main Street.

Glad I have a fixed account though, with one of the largest and best insurance companies in the world.

I can wait out the storm.

[CelticMist]

If we have a recession I doubt it will have anything to do with the President or congress, but will come as a result of people's flippant attitudes towards personal debt. I can't even begin to count how many of my co-workers, classmates, or family members are neck-deep in credit card debt and are confused why they can't get out. At the same time they drive new cars, refuse to work to pay for school, and rely on cell phones, premium cable, and high-speed internet. Wonder what goes through their heads?
9 trillion from the gov would NOT be a cause.... :shocked

what part of post #4 do you not understand