Do you think the United States is in a recession?
83 percent of US voters think the country is still in a recession. Do you agree or disagree?
I disagree. "Recession" has a specific definition, one not compatible with continued growth--which we have seen every quarter since the last one of 2009:
http://www.tradingeconomics.com/united- … gdp-growth
Of course, unemployment and the weak housing market are still causing a lot of hardship, which is what folks are really talking about.
"Recession" does indeed have a technical definition, but that is not how most people use the word in their conversation. There is a recession underway because incomes and job availability are down, inflation and taxation are up, and most people are feeling the economic stress in their private lives. It does no good and serves no truth to fall back on a technicality to deny that ordinary speech does not apply.
Yes, the US is still in recession.
3% GDP growth must be recalibrated to population growth (some 1%). That leaves 2%. 2% of 15 Trillion is 300 Billion. Now how much is the public deficit? More than 1 Trillion per year. Just subtract and you get a realistic view of the economy.
The result is negative, right?
And you may ask: How much efficiency is behind investing 1000 Billion in public deficit to get 300 Billion in growth?
We've been in a recession since the Great Depression.. We've just been able to cover it up by exchanging rising debt for growth. The market crash, the housing bubble bursting was inevitable, and it's going to happen again. It's the market trying to balance the scales that we keep unbalancing. We have the highest debt we've EVER had.... EVER (even in adjusted dollars) and with our current attitude, there is no sign it will ever go down..... ever.
Anyone who thinks we're not in a recession, and anyone who thinks it's getting better and not worse is either lying, or just ignorant.
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