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How do you figure we haven't left the recession? Since June 09 we've been growing and not shrinking, which means the recession was over. It may not be the boom

How do you figure we haven't left the recession? Since June 09 we've been growing and not shrinking, which means the recession was over. It may not be the boom we all want, however the recession is over by any reasonable measure.

aero142 12y ago
The word recession has a technical definition about a shrinking GDP, and a common usage that basically means, lots of people or companies have job/money problems more than normal. You have to figure out which one people are talking about from the context.
itbeho 12y ago
Not to debate whether the technical term of recession is applicable or not, it seems to me like the the labor participation rate is a reasonable measure to look at. http://www.businessinsider.com/labor-force-participation-rate-september-2014-2014-10 http://www.businessinsider.com/labor-force-participation-rat...
glesica 12y ago
It takes about 10 minutes on Google to conclude that, regardless of any technical definition of a "recession", the economy is terrible unless you you're in a handful of industries or happen to make your money by owning the means of production (shocking that the group for whom the system is named always seem to do just fine...) Here's a good example: http://www.pewresearch.org/fact-tank/2014/10/09/for-most-workers-real-wages-have-barely-budged-for-decades/ http://www.pewresearch.org/fact-tank/2014/10/09/for-most-wor... Some groups have actually seen their real wages fall over time, even since '09. If your wages are falling, then your economy is contracting, that's a recession. Over-aggregating and being pedantic about technical definitions adds nothing to the conversation, just like saying "my wages have gone up, therefore things are fine" adds nothing to the conversation (not saying you did the latter). Edit: I'm not saying accuracy in terminology is never a good thing, if you're writing an academic or professional article then, by all means, be precise. But this isn't that kind of forum, so significant contextual inference is called for.
- happyscrappy 12y ago
  So as long as one persons wage is falling that's a recession? That makes the word meaningless.
  - glesica 12y ago
    Pretty sure that's not what I said. I said that would be a recession for that person, in other words, from the point of view of that one, individual person. Of course you've over-extended my point. I wasn't talking about individuals, I was talking about fairly large groups of people.
    - happyscrappy 12y ago
      Sure you can say specific industries are in recession but if you don't qualify it that implies the entire economy.
- mahyarm 12y ago
  A lot of business owners, large and small, still go out of business or do badly in recessions, who are part of that 'capitalist' group.
- pentelkuru 12y ago
  >> We never left the recession; The OP suggested the American economy is still in a recession, which is false. Not according to any obscure "technical definition" of recession, but according to the only widely accepted definition of the word. > Over-aggregating and being pedantic about technical definitions adds nothing to the conversation His post opens with a statement that is plainly false. Spreading misinformation (even unintentionally) is not a good way to contribute to a conversation either. While you might find it pedantic to learn how to use words correctly, others may appreciate the opportunity to learn about subjects outside their area of expertise. Pvnick ultimately makes a good point, but he quite unnecessarily loses credibility among anybody who knows what a recession is. Imagine someone telling you that "The best tablet is the Android" or "Git is a bad compiler." You're likely to consciously or unconsciously discredit whatever comes out of their mouth next.
aliston 12y ago
You have to also factor in that the G component of GDP (C+I+X+G) has increased dramatically under president Obama [1]. The government can temporarily pull the economy out of a recession by paying people to dig holes and fill them up again. A bigger question is whether all of the government spending has created sustainable economic growth. [1] http://research.stlouisfed.org/fred2/series/FGEXPND http://research.stlouisfed.org/fred2/series/FGEXPND
- matthewdgreen 12y ago
  Does that include overall government spending, or only Federal spending?

aero142 12y ago

The word recession has a technical definition about a shrinking GDP, and a common usage that basically means, lots of people or companies have job/money problems more than normal. You have to figure out which one people are talking about from the context.

itbeho 12y ago

Not to debate whether the technical term of recession is applicable or not, it seems to me like the the labor participation rate is a reasonable measure to look at. http://www.businessinsider.com/labor-force-participation-rate-september-2014-2014-10 http://www.businessinsider.com/labor-force-participation-rat...

glesica 12y ago

It takes about 10 minutes on Google to conclude that, regardless of any technical definition of a "recession", the economy is terrible unless you you're in a handful of industries or happen to make your money by owning the means of production (shocking that the group for whom the system is named always seem to do just fine...) Here's a good example: http://www.pewresearch.org/fact-tank/2014/10/09/for-most-workers-real-wages-have-barely-budged-for-decades/ http://www.pewresearch.org/fact-tank/2014/10/09/for-most-wor... Some groups have actually seen their real wages fall over time, even since '09. If your wages are falling, then your economy is contracting, that's a recession. Over-aggregating and being pedantic about technical definitions adds nothing to the conversation, just like saying "my wages have gone up, therefore things are fine" adds nothing to the conversation (not saying you did the latter). Edit: I'm not saying accuracy in terminology is never a good thing, if you're writing an academic or professional article then, by all means, be precise. But this isn't that kind of forum, so significant contextual inference is called for.

happyscrappy 12y ago
So as long as one persons wage is falling that's a recession? That makes the word meaningless.
- glesica 12y ago
  Pretty sure that's not what I said. I said that would be a recession for that person, in other words, from the point of view of that one, individual person. Of course you've over-extended my point. I wasn't talking about individuals, I was talking about fairly large groups of people.
  - happyscrappy 12y ago
    Sure you can say specific industries are in recession but if you don't qualify it that implies the entire economy.
mahyarm 12y ago
A lot of business owners, large and small, still go out of business or do badly in recessions, who are part of that 'capitalist' group.
pentelkuru 12y ago
>> We never left the recession; The OP suggested the American economy is still in a recession, which is false. Not according to any obscure "technical definition" of recession, but according to the only widely accepted definition of the word. > Over-aggregating and being pedantic about technical definitions adds nothing to the conversation His post opens with a statement that is plainly false. Spreading misinformation (even unintentionally) is not a good way to contribute to a conversation either. While you might find it pedantic to learn how to use words correctly, others may appreciate the opportunity to learn about subjects outside their area of expertise. Pvnick ultimately makes a good point, but he quite unnecessarily loses credibility among anybody who knows what a recession is. Imagine someone telling you that "The best tablet is the Android" or "Git is a bad compiler." You're likely to consciously or unconsciously discredit whatever comes out of their mouth next.

aliston 12y ago

You have to also factor in that the G component of GDP (C+I+X+G) has increased dramatically under president Obama [1]. The government can temporarily pull the economy out of a recession by paying people to dig holes and fill them up again. A bigger question is whether all of the government spending has created sustainable economic growth. [1] http://research.stlouisfed.org/fred2/series/FGEXPND http://research.stlouisfed.org/fred2/series/FGEXPND

matthewdgreen 12y ago
Does that include overall government spending, or only Federal spending?