Do you know what the economy has to be like to be declared a recession? Do you think we are in one? What events are leading experts to make decisions.
The New York Times recently posted an article about the economy that is well worth reading. " Something has clearly gone wrong with the economy. But how bad are things, really? And how bad might they get before better days return? Even to many economists who recently thought the gloom was overblown, the situation looks grim. The economy is in the midst of a very rough patch. The worst is probably still ahead."
21 comments:
I don't think we will go into a recession, but the economy will likely be rough and slow for another year or two. To the American people, it may seem like a recession, but I think the whole economy is overexaggerated by the media. It is not as bad as other times such as the 30's and 70's. If the gas and food prices go down, our economy will be much better. Those are the 2 biggest issues.
I don't think it's fair to use our money to bailout these companies, they lended irresponsibly, and we should not have to bail them out. Let them learn a lesson.
I still believe that we are just on the verge of a recession. Our economy can get much much worse. Our area is seeing outrageous foreclosures. The housing market for Ohio is not in the percentage of regions that are "o.k." A lot of us know somebody or have family who has experienced a foreclosure in this downfall of the economy. The banks don't have any money now and are in 300 million dollars of debt, and expected to go into the trillions. Our economy has been shaky, following the business cycle. However, what goes up must come down. After this "recession" our economy will restore itself.
In order to be officially a recession, there has to be "a significant decline in economic activity spread across the economy, lasting more than a few months." I don't think that we are in a recession right now, but we are close. If the gas prices, good prices, and housing market improve, our economy will improve. It's certainly not as bad as the 1930s. Hopefully things improve soon.
I don't think that we are in a recession right now, but we are pretty close. In order for us to be in a recession there has to be decline in an economic activity across the country that lasts for a while. If the prices of gas, the housing market prices the economy will get better. Hopefully it gets better soon!
While everyone thinks the economy is so terrible right now, we are still not OFFICIALLY in a recession. While it may seem like it, we do have to remember that like Charles said, the media does overexaggerate things. We are not as bad as the 30s, which is a VERY very good thing. Eventually with time, things will restore and our economy will be back to the good ole times.
I dont believe that America is in recession now, but later on we might if we dont get our act together. In order for us to be in recession there has to be a decline in economic activity.
I believe we're on the brink of a recession, and it could honestly go either way. I'm worried about the loss of jobs, though. When I go looking for a job, will there be one? Will it take months, years even, to find a job? It's hard to tell at this point.
I think we're very near a recession, but not quiet there yet. Give us a few more months and I'm sure if things don't turn around that we'll definitely be in a recession. But for now, I don't think it's nearly as bad as everyone thinks it is, not by historical standards anyway.
I don't think we are in a recession, but I do think we are very very close. To be in a recession, there has to be a significant decline in economic activity. We just need to figure out what to do about all the problems we are having with gas, food and everything else.
I think that our economy is pretty bad, but were not technically in a recession. If it gets any worse though i think we will be.
I think that we are going to end up in recession with time if nothing changes with gas prices, good prices, and housing market not to say unemployment. I do think that the passage is right about what its saying.Instead of thinking that it is not as bad as in the 30’s . We should start thinking on what we should do to prevent it period.
I think we are in a recession. The government is unwilling to call it such in fear of the panic it could induce but let's look at what the article says is a recession. "a significant decline in economic activity spread across the economy, lasting more than a few months." Our economy has been steadily declining for more than "the last few months" and it is most definitely spread across our economy. The article also says "If enough people lose their jobs, factories stop making things, stores stop selling things, and less money lands in people's pockets, it is probably a recession." Well we have the largest unemployment rate in four years, factories all over the country are shutting down and laying off workers, everything from stores to houses are having terrible sales, and people complain constantly about not having enough money to pay for gas, food, etc. Seems a lot like a recession to me.
After reading almost all the articles and seeing how bad things are going I must agree with Dylan that we are in a recession. We have been having issues for months, with no solutions, and have lost a lot more money than we have in the past few years. Just because the economy in the past was worse, does not mean we are not in a recession.
It is true that the economy has been worse throughout history but it is pretty bad now as well. I do think we are in a recession, not a terrible one but still in it. The U.S. has sort of been stuck in a rut for months now with no improvement and more and more jobs are being lost and with gas prices being the highest they have ever been, things are not looking too good for us. Sadly, the economy may get worse before it gets better, but I think things will start changing for the better in the near future.
I don't think that we are or going to be in recession. If people say they are going to fix our countries problems and actually come through with it then we don't have to worry about it as much.
I personally don't think were in a recession YET. Although we will probably be in the summer of 09 or 2010. After the summer of 2010 things should get better and somewhat return to normal. It will take at least five years to fully recover because of the fact that people to not trust the economy, their jobs, or the banks. Really we could probably turn things around right now but it is impossible to get every american on the same page. It will just not happen.
I do feel that we will go into a recession, thats if we are not already in one. The economy will continue to fail with factors such as the high cost of a barrel of oil. Not only is gas going up, so our the regular day to day things that we purchase in the supermarkets such as bread and milk. The housing market is also really effecting the economy.
I don;t think we are in a recession but we could if the cost of things keep rising and the country starts to slip up a little bit. But once this oil crises is over it will all end.
Although times are really quite tough right now i do not think we are fully in a recession. Only because like lauren said The media does exagerate. Yes, the gas prices and housing are rediculous but hopefully here soon they will go down!
There was no hiding that we were in a recession whether we like it or not. Even before the government came out and said"We are now in a recession."I knew we were in one and this article just showed that we would before we did.
The article could be informing us that we are not in recession right now but we should always be ready. There are always the ups and downs and if we are doing good right now, we could be in recession before we know it.
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