It took the National Bureau of Economic Research 12 months to finally crunch the numbers but they finally confirmed what I announced on January 17th of this year. The US Economy has been in a recession since December of 2007. I made the announcement in my post dated January 17th, 2008.
Every once in a while I get it right.
That being said, all the elements that were in place at the beginning of the year have only gotten worse as the year has rolled on. Unemployment is getting worse, the financial industry is in upheaval, real estate is still dragging down the economy. There really isn't much to indicate the recession is going to end soon.
Good to hear, for a minute there it seemed like there was no reason for hope (grin). Isn't this a good reset for cost of living and buying power that we were loosing our hold on (thanks in part to loose mortgages being handed out like candy)?
Posted by: Kevin Pellatiro | December 01, 2008 at 04:50 PM
According to Keynes, the root cause of an economic downturns is an insufficient aggregate demand. When the total demand for goods and services declines, businesses throughout the economy see their sales fall off. Lower sales induce firms to cut back production and to lay off workers. Rising unemployment and declining profits further depress demand, leading to a feedback loop with a very unhappy ending.
90% of the time you can make statistics show whatever you want 50% of time
http://nomedals.blogspot.com
Posted by: Jason | December 01, 2008 at 10:14 PM
Yes, we are indeed.
The whole construction industry, construction plumbing training industry is noticing the impact, however services and training courses are still required, it we cannot go without essential plumbing training services, it's simply impossible
Posted by: Plumbing Training Courses | December 08, 2008 at 05:55 PM
I don't hink anyone has any more questions about this. It is weird to long for 2008.
Posted by: Atlanta Real Estate Ellen Crawford | March 05, 2009 at 09:01 PM
recession is just a stage everyone has to be. but everything will be changed accordingly, i guess.
Posted by: socorrosultan | April 11, 2011 at 09:29 PM
But now we are coming out of it
Posted by: bag hooks | May 05, 2011 at 03:46 AM