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Great Recession’ over, research group says.

Downturn lasted 18 months; longest recession since World War II



Today



http://www.msnbc.msn.com/id/39269753/ns/business-eye_on_the_economy/



The “Great Recession” has ended, officially.

At least, that's the word from the private research organization that calls the beginnings and endings of recessions, the National Bureau of Economic Research.



The NBER said Monday that the recession which began in December 2007 ended in June 2009, which marked the beginning of an expansion.

The announcement rules out the possibility of a so-called “double-dip” recession, because any new downturn would be seen as a brand new recession.







The NBER said it chose the June 2009 date based on examination of data including gross domestic product, employment and personal income.

"The recession lasted 18 months, which makes it the longest of any recession since World War II.
Previously the longest postwar recessions were those of 1973-75 and 1981-82, both of which lasted 16 months," the NBER added in a press release on its website.

Just because the recession ended 15 months ago, it doesn't mean that the economy is healthy, the NBER asserted.

"Economic activity is typically below normal in the early stages of an expansion, and it sometimes remains so well into the expansion," the NBER said.

In April, the NBER declined to call the end of the recession, and some of its members said at the time they were concerned the economy could dip back into negative territory.

In Monday's announcement, the NBER said any fresh downturn would mark a new recession, not a continuation of the one that began in December 2007.

"The basis for this decision was the length and strength of the recovery to date," the NBER said.

U.S. officials have been struggling to find a way to speed up a sluggish recovery that has left unemployment at a painfully high 9.6 percent.

The U.S. Federal Reserve's policy-setting committee meets on Tuesday and is widely expect to discuss whether additional measures are warranted to bolster the economy.





The NBER normally takes its time in declaring a recession has started or ended.

For instance, the NBER announced in December 2008 that the recession had actually started one year earlier, in December 2007.

Similarly, it declared in July 2003 that the 2001 recession was over.
It actually ended 20 months earlier, in November 2001.

Its determination is of interest to economic historians — and political leaders.
Recessions that occur on their watch pose political risks.




In President George W. Bush's eight years in office, the United States fell into two recessions.

The first started in March 2001 and ended that November.

The second one started in December 2007.




NBER's decision means little to ordinary Americans now muddling through a sluggish economic recovery and a weak jobs market.

Unemployment is 9.6 percent and has been stuck at high levels since the recession ended.





Many will continue to struggle.

Unemployment usually keeps rising well after a recession ends. Four months after the 2007 downturn ended, unemployment spiked to 10.1 percent in October 2009, which was the highest in just over a quarter-century.

Some economists believe that marked the high point in joblessness.

But others think it could climb higher — perhaps hitting 10.3 percent by early next year.

After the 2001 recession, for instance, unemployment didn't peak until June 2003 — 19 months later.




Video Inside ~ Recession officially over, group says.


 

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yep just pointed this one out to Preacher....sucks when the not bad news gets in the way of your sky is falling rants....especialy with the elections just around the corner. But then I guess that is why Preacher wants us all to think the sky is falling anyway.
 

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Are we really supposed to believe this?
Why not ... I mean, according to ArKay & Tex and some of the other right-wingers here, the Iraq War cost less than the Stimulus ...
 

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If this is true, what do you call what we are in now? :crazy:

If its posted on the internet it must be true:rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling:
 

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If this is true, what do you call what we are in now? :crazy:

If its posted on the internet it must be true:rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling::rolling:
It is called a recovery....You can read about it here...


http://www.nber.org/cycles/sept2010.html

Be carefull though it won't make you hate anybody or help you prove that Obama is evil.


By the way the chairman Robert Hall is at that bastion of liberal thinking Stanford University....you know the university that the Hoover Institute, the conservative think tank is located at.
 

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Is this the same as sorta pregnant? or the dog ate my home work :D
Yes it is very much like sorta pregnant...as in you are either pregnant or not and we are either in recesion or not. They say the numbers show that we are not in recesion but in recovery. :thumbsup:
 

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Yes it is very much like sorta pregnant...as in you are either pregnant or not and we are either in recesion or not. They say the numbers show that we are not in recesion but in recovery. :thumbsup:
So you are sayin that it has not gotten worst since 2009? Must be the most dam gum recovery I have ever been in:laughing:

Somebody is using Clintons definition of what is is :surprised
 

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You'all need to apply for Immigrant statis

Then the government will go to batt for you :lookinup:

They will even sue the Great State Of Arizona *

For enforcing Illegal immigration laws

Also you can apply for job placement, School loans and

Free medical :excited:

What recession :huh:
 

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Deny Deny Deny … it’s All a Lie! :laughing:
 

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So you are sayin that it has not gotten worst since 2009? Must be the most dam gum recovery I have ever been in:laughing:

Somebody is using Clintons definition of what is is :surprised
:laughing: Yea … the Economy was supposed to change direction, one second after Obama took office.
 

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:laughing: Yea … the Economy was supposed to change direction, one second after Obama took office.
Do you understand the term "Change Direction" or what?

To go out and preach that the recession ended in June of 2009 and we today are in deeper in dept, un-employment is higher and now more people than ever are living in poverty I only see one direction:smack and sooner or later that will only be up but not if Barry has anything to do with it:D
 

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Do you understand the term "Change Direction" or what?

To go out and preach that the recession ended in June of 2009 and we today are in deeper in dept, un-employment is higher and now more people than ever are living in poverty I only see one direction:smack and sooner or later that will only be up but not if Barry has anything to do with it:D
Yea I understand, how about you … since I have a degree in Applied Physics, Digital Electronics and Software Engineering.

I understand what transforms a falling object into a rising object … do you? ;)
 

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Actually I hope Obama declares success with this report. It will be just like the "Summer of Recovery", no one is going to buy in to his BS.:rolling:
 

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It’s the difference between the Literal Minded people and people who not only know Economics, but are part of the Economy. Any moron, who is stupid enough to think that after this country has experienced the worse Economic CRASH since the GREAT DEPRESSION, would expect less than two years later, everything would be back to normal.
:rolleyes:
 

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Yea I understand, how about you … since I have a degree in Applied Physics, Digital Electronics and Software Engineering.

I understand what transforms a falling object into a rising object … do you? ;)
I know, you now how to make a tampon dispenser out of a toaster, I for one thinks Barry needs one Go tiger getem:thumbsup:

Sounds like you are stay'in the course though, How long will you ride the ship? before or after you too are un-employed by the Democrate spending spree:lookinup:
 

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Discussion Starter #19
It’s the difference between the Literal Minded people and people who not only know Economics, but are part of the Economy. Any moron, who is stupid enough to think that after this country has experienced the worse Economic CRASH since the GREAT DEPRESSION, would expect less than two years later, everything would be back to normal.
:rolleyes:
Further, the (R)'s did the exact same thing way back after thier First Great Depression ...

*I want the socialist/communist/national socialist fascist FDR to Fail*



Sad.
 

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I know, you now how to make a tampon dispenser out of a toaster, I for one thinks Barry needs one Go tiger getem:thumbsup:

Sounds like you are stay'in the course though, How long will you ride the ship? before or after you too are un-employed by the Democrate spending spree:lookinup:
Wrong, I’m a change the course type … and the course was just changed and the results are gradually starting to come in.

In addition, I’m in control of my employment, not the government.

If the GOP was in charge of the US going to the Moon, we would have stopped after the second test flight, months before we used test monkeys and decades before humans.
 
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