obama is refering to the recession in the past tense

#5
#5
every person that has asked him a question in this CNBC interview freely admits they voted for him and is in favor of his policies before asking their "tough question."
 
#8
#8
yeah he said the majority of americans think he went too easy on wall street. then he also said "didn't main street suffer enough" as though it was 100% obvious that wall street was the cause of all of these problems.
 
#9
#9
wasn't the recession declared over today? Maybe he was just going off the good news
 
#12
#12
droski said:
nber might want to take a look at the unemployment rate
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It's still a crappy economy, but the definition of a recession is what it is, right? The unemployment is still there, but for the time being the growth numbers don't say recession. I don't see unemployment fixing itself, so you have to wonder if there won't be at last another (mild) dip.
 
#14
#14
droski said:
yes and we are unquestionably in one.
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Interesting. So, their growth numbers are wrong then?

I thought that the reason we had to wait for a year to declare these things was so that we could actually believe the numbers. They're still subjective? Great. Isn't economics fun?
 
#15
#15
positive gdp growth does not mean a recession is over. that is a very simplistic analysis. it's kind of like arguing i'm not poor anymore because my salary dropped from 50k to 10k and is now back to 12k.
 
#16
#16
droski said:
positive gdp growth does not mean a recession is over. that is a very simplistic analysis. it's kind of like arguing i'm not poor anymore because my salary dropped from 50k to 10k and is now back to 12k.
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When you are campaigning, you go with whatever works I suppose.

Technically, it's over. Practically, we've got a long ways to go.
 
#17
#17
droski said:
positive gdp growth does not mean a recession is over. that is a very simplistic analysis. it's kind of like arguing i'm not poor anymore because my salary dropped from 50k to 10k and is now back to 12k.
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Then how do you define a recession?

I'm seriously confused, here. I thought a recession had a technical definition, not a plastic qualitative one. But I don't pretend to have any deep knowledge of this stuff.
 
#18
#18
a turnaround in employment is generally used as a metric to define when a recession is over. GDP is not the only metric. not sure what the govt definition is though.
 
#19
#19
droski said:
a turnaround in employment is generally used as a metric to define when a recession is over. GDP is not the only metric. not sure what the govt definition is though.
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I see. So a shrinking of the market for x number of months marks the beginning, but it hasn't fully run it's course until employment numbers return to close to their pre-recession numbers.

Well poop, we'll never leave this thing.
 
#20
#20
an hour and a half later and cnbc still hasn't had a single commentator on that has done anything, but praise obama's performance in the town hall meeting.
 
#21
#21
droski said:
an hour and a half later and cnbc still hasn't had a single commentator on that has done anything, but praise obama's performance in the town hall meeting.
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does CNBC have any skin in Obama's game? hmmmm?
 
#22
#22
I finally understand some of obama's way of thinking! I have started refering to him in the past tense.
 
#23
#23
BigPapaVol said:
does CNBC have any skin in Obama's game? hmmmm?
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it far worse than it ever was. they fired gasparino (while a d bag at least he was a republican), kept steven leasman (i don't know how to spell any of these people's names btw) despite him clearly being in the pocket of the obama administration, and the anchor in the morning is openly challenging any republic commentator and blowing obama.
 
#24
#24
I always thought the recession definition was tied to GDP growth rate. There's technically over (GDP growth rate) and practically over (back to "normal" unemployment).

I do know that this was the Summer of Recovery though...
 
#25
#25
droski said:
positive gdp growth does not mean a recession is over. that is a very simplistic analysis. it's kind of like arguing i'm not poor anymore because my salary dropped from 50k to 10k and is now back to 12k.
Click to expand...

I thought that the technical definition of a recession was two or more quarters of negative GDP growth. That's why I was confused. I am reaching back to high school economics that clearly presented a hard and fast definition of something that is apparently not hard and fast...imagine that...once again our educational system is afraid to teach nuance.
 
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