Comments on: Second Quarter GDP Revised Downwards

By: rodney dill

rodney dill — Mon, 29 Sep 2008 10:53:10 +0000

Well there is a clear cut definition for Recession. But we don't have a clear definition for 'The Fundamentals of the economy are strong.'

By: Beldar

Beldar — Sun, 28 Sep 2008 03:01:48 +0000

Unless the word "recession" is given an made-up new definition under which it becomes a synonym for "somebody thinks these aren't great times," we definitely have not yet been shown to be in a recession. At worst (or, I suppose, at best for those who are doom-sayers), we might possibly be retroactively determined to have been in a recession during this third quarter some time in the first quarter of 2009, when we have the stats for both the third and fourth quarter of 2008.

By: tom p

tom p — Sun, 28 Sep 2008 00:50:07 +0000

Steve, not to nitpick, but I am in construction... and for us? It is a recession. Not necessarily(sp?) complaining, we have had a good long run, just whining... especially when someone says, "Hey, the economy isn't so bad..."

I want to say, "Easy for you to say!"

So, I will be getting laid off in the next week or 2, be laid off for 2-3 months (until the next phase starts up) then, hopefully, back to work.

Construstion is a funny business, we work ourselves OUT of a job. The harder we work, the more efficient we are, the sooner we are unemployed. Hopefully, because we work harder, we are the first to be called back. it doesn't always work out that way.

And in this economy... I could be out a long time. I hope my savings last (a little of every paycheck) otherwise, I am screwed.

By: legion

legion — Sat, 27 Sep 2008 01:01:36 +0000

Well, considering that inflation is currently above 5%, I'm not so sure I'd agree...