Comments on: What is a Recession?

By: sadcox

sadcox — Mon, 07 Apr 2008 22:05:54 +0000

BM, those numbers came from the BEA, so they should be the most accurate there are, but I doubt they are inflation adjusted. For instance, that doesn’t take into account what the average person pays extra for fuel each quarter.

HM, that’s exactly what I’m saying. Starbucks barristas may actually be experiencing a recession because of you.

By: Hungry Mother

Hungry Mother — Mon, 07 Apr 2008 20:12:09 +0000

All I know is that I stopped tipping Starbucks barristas because I can’t afford it.

By: billymac

billymac — Mon, 07 Apr 2008 16:10:03 +0000

it is also defined as (wikipedia):

“decline in a country’s real gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year”

are the GDP numbers you are using real numbers? (i.e., inflation adjusted)? I typically go by this definition, and it doesn’t appear we are in a recession, however, it things don’t up-tick, we appear to be heading that way.

i blame the MSM for hyping most of the news in this country, including the economy.

By: sadcox

sadcox — Mon, 07 Apr 2008 15:03:59 +0000

I’m good with calling it an “economic downturn”.

But like I said, if everyone perceives it is a bonafied recession, it doesn’t really matter whether or not the definition is met.

I guess I’m more concerned with why people perveive it. Is it because of the media or because of their personal experience? I’ve been in a personal recession before when the economy itself was booming.

Should we change the definition of recession to “when ‘they’ say we’re in a recession?”

By: Ivy

Ivy — Mon, 07 Apr 2008 14:53:33 +0000

It’s quite easy to perceive we’re in a recession when everybody’s struggling to make it, though, ya know? the company I used to work for was taken off the NYSE a couple of weeks ago, they’re going to have to file bankruptcy, it looks like. Stuff like this is happening all over the place. Sure, we might not be in a textbook recession, but there’s nothing wrong at all with people being worried about the economy.