|
|
Post by The Great Aztec Joe on Sept 24, 2010 4:59:32 GMT -8
Warren Buffett: "We're still in a recession" By Jonathan StempelPosted 2010/09/23 at 10:50 am EDT NEW YORK, Sep. 23, 2010 (Reuters) — Billionaire investor Warren Buffett said the U.S. economy remains in recession, disputing this week's assessment by a leading arbiter of economic activity that the downturn ended more than a year ago. "We're still in a recession," Buffett told CNBC television in an interview broadcast on Thursday. "We're not gonna be out of it for a while..... www.newsdaily.com/stories/tre68m2tz-us-buffett-recession/ |
|
|
|
Post by The Aztec Panther on Sept 24, 2010 5:27:37 GMT -8
Well, if there are two consecutive quarters of growth - even small, almost infinitesimal growth - then technically the economy is not in recession.
What we are in is a slow (darned near dead stopped), nearly jobless recovery, which has dragged out most of the economic conditions of the recession.
So, technically speaking we're not in a recession anymore, but up to now the, "Recovery," is something of a bad joke.
|
|
|
|
Post by The Great Aztec Joe on Sept 24, 2010 6:07:59 GMT -8
Well, if there are two consecutive quarters of growth - even small, almost infinitesimal growth - then technically the economy is not in recession. What we are in is a slow (darned near dead stopped), nearly jobless recovery, which has dragged out most of the economic conditions of the recession. So, technically speaking we're not in a recession anymore, but up to now the, "Recovery," is something of a bad joke. All the Federal Government has done is buy Positive GDP with Federal Spending. Take that artificial spending out of the equation, and American Industry is in a Depression. Remember the words from the Song, we believe what we want to believe and disregard the rest. |
|
|
|
Post by The Great Aztec Joe on Sept 24, 2010 6:11:22 GMT -8
GDP = private consumption + gross investment + government spending + (exports - imports)See that government spending in there right after gross investment?  ? Yep, the US Government can buy GDP and then pretend that we are in recovery. I have been pointing this out for years. The Government openly lies to us and most of the Sheeple believe it.
|
|
|
|
Post by aztecwin on Sept 24, 2010 10:36:32 GMT -8
No real news here!
|
|
?