Is The Economy In A Recession ?

[kdown]

Is our economy in a recession

[kcredden]

I voted, but you should have put on it, "What's a recession" Many of the youngn's don't know what it's like. We've had it pretty good since Clinton, even if we had a "slow-down" during Bush's first few years. A really crippling one like Carter's hasnt' been experienced in awile.

- Kc

[kdown]

It's hard to define, but here is on explanation
The technical definition of a recession
Now, many economists fear that we are headed for - or are in - a recession. Just what is it? Recession is defined as a period of economic retraction; when the economy actually gets smaller. Generally, two months of decline in the Gross Domestic Product (GDP) or a sharp rise in the unemployment rate, are red flags that a country is approaching, or in the midst of, such an economic contraction.
The last large-scale recession in the United States was in the late 70's and early 80's. There have been several minor ones including, most recently, in 2001 for a brief period of time. Gasoline and energy prices reached levels that had never before been seen, and almost 11% of the nation was unemployed. The prime lending rate reached over 21% (compared to 8.5% today.) Understandably, the housing industry came to a virtual standstill; very few people could afford mortgages with interest rates at such astronomical heights.

[Maxwells]

My opinion is that I do believe we are really getting close or already are in a recession. I was laid off the last of August due to the Company I worked for sold out to a larger Company, for which my position would not be filled. I have been every where in this town and there is no work, I mean no work. I am a woman who has 15 years of Administrative Assistant experience, and let me tell you it is hard. These Companies are hiring for temporary work with no benifits, and then you don't know if you will have a job after 6 or 9 months. They are sending more and more of their work out of this Country, and it is a terrible situation. So Yeah....It is time for people to wake up..and take this Country back...

[Chuck]

Recession basically means people quit spending money. What make this different but still a recession is that people are still spending all their money. They are just only able to spend it on fuel and other home necessities.

With all time lows in spending well before this past Christmas season the signs have been there just no one was talking about it. Because of this lack of acknowledgment we are caught in the suction vortex of a inevitable recession.

Now while this might upset a few people to hear, a tax rebate/refund is not the answer. It will only spread a small amount of cash in to the economy and would cause the national debt to suffer even greater stress than the money that is returned. You have to pay your bills sooner or later.

That is unless the Government halted all spending except what is essential for the Countries survival. Even that would not balance the dollar. Jobs are needed to hold a steady flow of available spending cash and since China and other Countries currently have our jobs this will not happen anytime soon.

As I said 6 Years ago "Reagenomics" cannot work. The magic 10 Trillion dollar mark for the debt will hurt us deeply. The rich are getting richer and collecting all the money like they are collecting baseball cards, this is not helping.

Money has to circulated without the need to acquire more debt by both the people and the Government. The only thing worse than a total stock crash is total bankruptcy. Ask Russia, they recent felt this only 20 short years ago.

It is not all doom and gloom. Nor is it the end of the world. It is only a wake up call to stabilize the economy at all cost. I don't have the answers but I can tell you that it doesn't take a college graduate to figure out when you're going broke.

[tkcomer]

If we're not in a recession, we're getting close. We've managed to avoid it so far by accumulating debt. That will have to come to an end sooner or later. Job outlook? Look no further than Kentucky. Lowest unemployment rates in years, but a lot less coming in. As we lose manufacturing jobs, they are being replaced by service jobs. And they don't pay what the manufacturing jobs did. The entire country is slowly converting to service jobs. No country that I can think of has a high standard of living for the majority of it's people on mainly service type jobs. You have the very rich, and everyone else. A lot of people are getting raises, but it's offset by higher health care costs, groceries, utilities, etc. Plus, a federal government unable to do much because they are so far in debt. And too beholden to special interests. I fear we are in for a “correction” and it's gonna be harsh.

[Brian K Beckett]

I voted, but you should have put on it, "What's a recession" Many of the youngn's don't know what it's like. We've had it pretty good since Clinton, even if we had a "slow-down" during Bush's first few years. A really crippling one like Carter's hasnt' been experienced in awile.

- Kc

I think anyone that was of age during the Clinton years can see the changes that have taken place since the Bush years. Buiseness was booming back then. I remember we were working 7 days a week sometimes 10 and 12 hrs a day. Couldent hire enough people. and didnt have enough days in the week.
I am too young to have experienced the Carter days.

[Chuck]

The Carter Days, lol. Carter was a good President the problem was the people surrounding him. Now he did appoint them so that narrows the blame. Carter inherited a mess coming off the Nixon/Ford era.

His main job was to fix an poorly handle recession which he had a good pace set without increasing the National Debt. The Iran Hostage situation is what destroyed him. He trusted that the special forces where of a standard we have today and we where not.

Intel and surveillance information was about 1/16 the technology we have today. Since I am not aware what the official release was on the Iran Hostage issue I will keep my mouth shut.

Either way Carter was good as good can be for what he was left to fix.

[mark]

...........I see where Bush wants to give a $800 ( singles ) & $1600 ( couples ) money back to Americans to "jump-start" this so called slow economy.

I remember the $400 per child check Bush gave us several years ago. Since we are totally overtaxed, I thought that was super. Anytime any of us can get some of our hard earned tax money back, it's nice. However, the liberals here crucified me for wanting some of my money back. They think it does no good to spend your own money.

So.....
When you get your check soon, do NOT cash it, simply return it back to the gov't.

Some believe the gov't can spend it better than you can.

Personally, I'll spend mine if/when it gets here...& not feel a bit guilty about it...........see ya mark

[maysvillebulldog]

...........I see where Bush wants to give a $800 ( singles ) & $1600 ( couples ) money back to Americans to "jump-start" this so called slow economy.

I remember the $400 per child check Bush gave us several years ago. Since we are totally overtaxed, I thought that was super. Anytime any of us can get some of our hard earned tax money back, it's nice. However, the liberals here crucified me for wanting some of my money back. They think it does no good to spend your own money.

So.....
When you get your check soon, do NOT cash it, simply return it back to the gov't.

Some believe the gov't can spend it better than you can.

Personally, I'll spend mine if/when it gets here...& not feel a bit guilty about it...........see ya mark

Ditto for me Mark. I remember the Carter administration all too well and I personally believe that history will record him as one of the weakest presidents in the 20th century. I will never forget that we had recently purchased a farm and we were paying 17% interest! If we really wanted to deter a recession we should make President Bush's tax cuts permanent. I shudder to think what will happen if a Democrat takes office.

[tkcomer]

I'll take the check and spend it. Since I don't have children, I don't have to worry about the agony they'll go through due to the 'pubs passing their fiscal irresponsibility on to them. And their children. Anyone with any common sense knows if you cut your income without cutting spending just passes that debt and financial burden on to someone else. I keep hoping the country can hang on until I'm gone. Don't think it will. Too many voters want something without paying for it.

[tiger_n2_dragon]

My opinion is that I do believe we are really getting close or already are in a recession. I was laid off the last of August due to the Company I worked for sold out to a larger Company, for which my position would not be filled. I have been every where in this town and there is no work, I mean no work. I am a woman who has 15 years of Administrative Assistant experience, and let me tell you it is hard. These Companies are hiring for temporary work with no benifits, and then you don't know if you will have a job after 6 or 9 months. They are sending more and more of their work out of this Country, and it is a terrible situation. So Yeah....It is time for people to wake up..and take this Country back...

I had to go out of this area to find a good job, with Nesco and Kelly dominating this area. I actually make more money now then I did back in the late 90's but, I had more money in my pocket back then. Back then gas was .85 cents per gallon, carton of Marlboro was $11 bucks, gallon of milk $1.89. Prices have tripled over the last ten years. Our wages have not went up enough to be competitive with todays prices. Seems the middle class no longer exist, you have "the rich" and "everyone else". So, I voted YES.

[Maxwells]

I had to go out of this area to find a good job, with Nesco and Kelly dominating this area. I actually make more money now then I did back in the late 90's but, I had more money in my pocket back then. Back then gas was .85 cents per gallon, carton of Marlboro was $11 bucks, gallon of milk $1.89. Prices have tripled over the last ten years. Our wages have not went up enough to be competitive with todays prices. Seems the middle class no longer exist, you have "the rich" and "everyone else". So, I voted YES.

I totally agree with you.....may I ask how far you had to get out of this town?

[tiger_n2_dragon]

I totally agree with you.....may I ask how far you had to get out of this town?

I travel 27 miles one way to work in Georgetown, Ohio. Depending on gas prices, it cost me 40-50 dollars to fill up my truck once a week. I think it's worth the drive considering the money I'm making. However, If I had a vehicle that got better than 18 MPG, it would be even better.

[Maxwells]

I may have to do the same...there is nothing here...you gotta know someone inside the company to get anywhere here. I have seen it happen to many times.

[ducklady]

It will be better when Hillary gets in office. She was the backbone to her husband. People had jobs and the deficient was down to nearly zero.

[Rebelyell]

The Carter Days, lol. Carter was a good President the problem was the people surrounding him. Now he did appoint them so that narrows the blame. Carter inherited a mess coming off the Nixon/Ford era.

His main job was to fix an poorly handle recession which he had a good pace set without increasing the National Debt. The Iran Hostage situation is what destroyed him. He trusted that the special forces where of a standard we have today and we where not.

Intel and surveillance information was about 1/16 the technology we have today. Since I am not aware what the official release was on the Iran Hostage issue I will keep my mouth shut.

Either way Carter was good as good can be for what he was left to fix.
Chuck,
The problems of the Nixon/Ford era were really the problems of the Lyndon Johnson era, and even with Nixon the Democratic Congress was spending like mad. Nixon tried "impounding" money appropriated by Congress in order to get spending under control, but this didn't work.

Of course, GWB has spent money like a drunken sailor on leave, and much of it on programs that we are going to be expected to keep funding.

Finally, as I write this the world's stock markets have just dropped by almost 10 percent in two days while our markets have been closed for a holiday. I'd say were are in an economic downturn.

[John Deere "B"]

It will be better when Hillary gets in office. She was the backbone to her husband. People had jobs and the deficient was down to nearly zero.

Yea Right, See how you feel when she raises your taxes, (and about health care), She could not get anything done on this during the 8 long years that her & Bill were in the white House, She's a big joke in my book.

[tkcomer]

There is not much the feds can do for a recession. Greed caused it, and it has to shake itself out. You had the savings and loan bust, the dot com bust and now the sub prime bust. Doesn't make it any easier on us. During the depression, the feds poured all kinds of money trying to reverse it. It helped, but basically didn't swing the country around. It took a war that pretty much destroyed the worlds capacity to produce. Except for us. We made a killing producing for others. That capacity is gone. Now, the world depends on us to buy their their stuff. During the depression, the rich and what little businesses that were successful were heavily taxed because we were all in this together. And the feds weren't over their heads in debt. Fast forward to today. Tax cuts for the rich and a businesses that will flee the country for lower taxes and labor. A government hampered by massive debts. A government head over heels in debt that choses to cut income and refuses to cut spending slowly goes bankrupt. All you have to do is read a little history of other countries that have traveled down this same path we are on. It's not pretty. They would have begged for a recession.

[Chuck]

She's a big joke in my book.

She can't be any worse than Goofy's little brother GWB....

Chuck,
The problems of the Nixon/Ford era were really the problems of the Lyndon Johnson era, and even with Nixon the Democratic Congress was spending like mad. Nixon tried "impounding" money appropriated by Congress in order to get spending under control, but this didn't work.


Actually you are correct. I did not care much for Johnson. I liked him as much as I like GWB. Johnson got us in the second war against people that never attacked us. I do like the way Nixon got us out of that one.

I just don't think Nixon handled the economical problems the correct way,,, of coarse I am looking at it through hind-sight so it is easy to be critical.

[kdown]

The high price of gas and diesel fuel is a MAJOR item impacting our economy. Everyone feels it when they fuel up their car. But, If you got it, a truck brought it and they run on diesel fuel. The extremely high price of diesel fuel is affecting everything in our lives. Diesel fuel surcharges of up to 50% of the freight bill has caused the price on thousands of items to increase, mainly groceries which is up as much as 20% over a year ago. Congress is working on a stimulis bill which could put $300.00 in your bank account. What a joke.

[Unregistered]

I graduated in 1981 when the recession was full blown. At that time jobs were hard to come by, **** I couldnt even get a job at McDonalds. but at the sametime it made me aware of the value of a dollar.

With that being said sometimes bad times can help the future.

[kdown]

Looks like most of us will get a " rebate check " in May or June.
Are you gonna save it or spend. If you're gonna spend it, what are you going to spend it on ????

[littlelee]

If I can hold out that long, I will more than likely spend mine on a new computer. The one I have is a piece of junk that needs to be tossed out the nearest window. Anything left over, will be saved, if it can be managed. I just hope we really do get it and it's not just more talk with no show.

[John Deere "B"]

Looks like most of us will get a " rebate check " in May or June.
Are you gonna save it or spend. If you're gonna spend it, what are you going to spend it on ????
Will a working couple that are now on S.S. receive any sort of a rebate check?

[kdown]

I sure hope so. I work full time and we get our S.S.
We also PAY Federal taxes at work and they TAX our S.S.
It is my understanding that working couples, who pay taxes, will get rebate checks