The Great Recession is "over" but THE REPUBLICAN DYSTOPIA grinds on...

[JohnWxy]

Reality establishes the definition of recession or the end thereof as per The National Bureau of Economic Research's Business Cycle Dating Committee as asinine nonsense. When will these idiots put the rate of employment in their definition of a recession. It is utter bullshit to call a recession over while the unemployment rate is over 6.5%. You can say that as far as businesses are concerned, the recession is over. But as for people we are still stuck in this Republican Dystopia - businesses with a cash hoard large enough to hire 6.4 million people for 5 years @ $50,000 per year. But there is very little new full-time hiring. Instead we see more use of over-time and additions of part-time workers prevail.



http://www.usatoday.com/printedition/news/20100921/1arecession21_st.art.htm
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The economic downturn that started in December 2007 was the longest since World War II. At 18 months, it outlasted two 16-month recessions, in 1973-1975 and 1981-1982. Nigel Gault, chief U.S. economist at IHS Global Insight, notes that economic output plunged 4.1% during the 2007-09 recession, the biggest postwar drop.

"Even though economists may say that the recession officially ended last year, obviously for the millions of people who are still out of work, people who have seen their home values decline, people who are struggling to pay the bills day to day, it's still very real for them," President Obama said.

The National Bureau of Economic Research's Business Cycle Dating Committee, which issues the official word on the start and end of recessions, hastened to explain that it didn't mean "that economic conditions since (June 2009) have been favorable or that the economy has returned to operating at normal capacity." It meant only that the economy hit bottom and began a feeble and fragile recovery.

Nearly 7 million jobs vanished during the recession, and job losses continued for months afterward. The jobless rate didn't peak at 10.1% until October 2009.
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http://abcnews.go.com/Business/hoarding-hiring-corporations-stockpile-mountain-cash/story?id=10250559">Hoarding, Not Hiring – Corporations Stockpile Mountain of Cash
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One piece of economic data that has caught the attention of Byrnes, and others in his predicament, is a fairly staggering figure that comes out of the Bureau of Economic Analysis: Despite widespread unemployment, the BEA reports that U.S. corporations, reluctant to expand in an uncertain economy, are sitting on $1.6 trillion in cash reserves, a record amount, according to BEA economist Greg Key.

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"Cash is piling up faster than companies can figure out what to do with it," said David Bianco, head of U.S. equity strategy at Bank of America.
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With $1.6 Trillion you could pay 6.4 million people for 5 years @ $50,000 per year ($50,000 is a bit above the median income of a U.S. family).

That 6.4 million jobs is almost equal to the 7 million jobs lost in the Republican Dystopia (2008 ...).