Good news!! The Recession is OVER !!!! Says so, right here:

[dixiegrrrrl]

"Economic panel says recession ended in June 2009


By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer – 16 mins ago

WASHINGTON – The longest recession the country has endured since World War II ended in June 2009, according to a group that dates the beginning and end of recessions.

The National Bureau of Economic Research, a panel of academic economists based in Cambridge, Mass., says the recession lasted 18 months. It started in December 2007 and ended in June 2009. Previously the longest postwar downturns were those in 1973-1975 and in 1981-1982. Both of those lasted 16 months.

The decision makes official what many economists have believed for some time, that the recession ended in the summer of 2009. The economy started growing again in the July-to-September quarter of 2009, after a record four straight quarters of declines. Thus, the April-to-June quarter of 2009, marked the last quarter when the economy was shrinking. At that time, it contracted just 0.7 percent, after suffering through much deeper declines. That factored into the NBER's decision to pinpoint the end of the recession in June."
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don't read the rest of the story ( and "they" know most people won't)

[NightWatcher]

1. and things have been so swell and gotten better since then...

What was the change that occurred in June 2009 that signaled the end?

[kirby]

4. Here...

"The economy started growing again in the July-to-September quarter of 2009, after a record four straight quarters of declines. Thus, the April-to-June quarter of 2009, marked the last quarter when the economy was shrinking. At that time, it contracted just 0.7 percent, after suffering through much deeper declines. That factored into the NBER's decision to pinpoint the end of the recession in June."

"Any future downturn in the economy would now mark the start of a new recession, not the continuation of the December 2007 recession, NBER said. That's important because if the economy starts shrinking again, it could mark the onset of a "double-dip" recession. For many economists, the last time that happened was in 1981-82."

[dixiegrrrrl]

8. You bummed out my mellow, dude.

I was fixing to run out and grab me one of those jobs lying around.

[bluestateguy]

2. Their barometer is just the cold hard data

They tally it up and make their call.

That's the way social science research institutes do it. The folksy populist way might be to ask Mary Hill in Cherry Hill Park if she is out of work, but that would be an anecdote and not social science.

[kirby]

3. By technical measure it is over...

However things like creating jobs and such are a 'lagging' indicator. Those numbers will improve much later than the recession actually ends.

Also, consider this, for almost 8 years, our economy was based on a house bubble. A bubble is a bad thing. A lot of jobs were based on bubble economics. Why do people think things will return to where they were unless we wish for another bubble?

[unblock]

5. this may actually be bad for obama

because if the economy does go south, the second recession will be deemed "his fault", rather than a continuation of shrub's recession.

then again, people blame obama for everything anyway....

[doc03]

6. Technically they are right we have had economic growth

since June 2009. Now jobs is a different story, we sold out our industrial base to other countries.

[COLGATE4]

7. Oh Good! I feel better already!

:mad:

[GSLevel9]

9. whew!!!!!! that's a relief!!!!!

now if all those people out there would stop ACTING like there's a recession!!

:sarcasm:

[dixiegrrrrl]

10. I'm sorry ( hangs head in shame)

Here I been thinking there is a recession.
It is all my fault.
I will cheer up immediately and run my credit cards up.
That should do it.

[spinbaby]

11. It actually does feel better

A guy I know who's been out of a job for over a year just got a pretty good position and the stores I shop don't have that desperate feeling about them anymore.

[Zephie]

12. June 2009?! Where the heck have I been?!

It's good to know I can go get a new car, house, boat, fridge, macaw, sofa, bed, and redo the lawn now. I wish someone had told me over a year ago. And here I've been living in a dinky rental with no boat, car, or expensive parrot, sleeping on the same bed I have for years and watching TV on a secondhand couch while my yard has been a dirtpit that even my dogs don't like playing in! And all because no one ever had the sense to let me know that it all ended LAST year? How rude! :grr:

Ok I feel better now.