[PAA-Discuss] CNN Says Recession Ended June 2009

Mon Sep 20 15:58:56 EDT 2010

Well, damn!  This must be the new prosperity!

From: gram.graham at sbcglobal.net
To: graham2639 at mindspring.com; massoud1 at windstream.net
Date: Mon, 20 Sep 2010 14:50:35 -0500
CC: discuss at paa-tx.org
Subject: Re: [PAA-Discuss] CNN Says Recession Ended June 2009

surely Massoud is pulling a leg here........or maybe it is right to say that one recession has ended and we are about to enter into a full blown DEPRESSION.......I was reading this article when I realized that what is getting ready to happen and  makes "recovery" impossible.  The banks that were bailed out are insolvent http://www.thetruthseeker.co.uk/article.asp?ID=13460   The recovery was a fairy tale.

From: discuss-bounces at paa-tx.org [mailto:discuss-bounces at paa-tx.org] On Behalf Of Ron and Kris Graham
Sent: Monday, September 20, 2010 2:34 PM
To: 'Massoud'
Cc: 'PAA discussion'
Subject: Re: [PAA-Discuss] CNN Says Recession Ended June 2009

Yeah, I was just reading about this in the Raw Story, Massoud. It would seem that if Mr. Obama says something then it must be true. Same with economists. Hmmmmmm..............very strange, indeed.

We’ve had a recovery according to the article below. I wonder if all the people out of a job or being underpaid in their current job and unable to pay the bills would agree with that assessment.

Kris

http://rawstory.com/news/afp/US_exits_longest_recession_since_Wo_09202010.html

US exits longest recession since World War II 

Published: Monday September 20, 2010

The US economy exited recession in June 2009, the National Bureau of Economic Research said on Monday, ending the most sustained downturn since World War II.
"The recession lasted 18 months, which makes it the longest of any recession since World War II," the bureau said in a statement.
More than eight million jobs were lost in the slump that was triggered by dodgy Wall Street mortgage investments.
Although the economic pain continues to be felt across the country, with one in ten US workers still without a job, the NBER said a slew for economic data showed the worst had now passed.
Despite economists' warnings of a double-dip recession, the bureau said the economy had recovered enough that any new slide would constitute a new recession.
"The committee decided that any future downturn of the economy would be a new recession and not a continuation of the recession that began in December 2007."
"The basis for this decision was the length and strength of the recovery to date."
At the same time it warned that "economic activity is typically below normal in the early stages of an expansion, and it sometimes remains so well into the expansion."
Unlike many countries where a recession is defined as two consecutive quarters of shrinking growth domestic product, in the United States it is determined by a seven-member NBER panel.
Although the depth of the crisis had already been clear, the NBER confirmed it was longer that those which began in 1973 and 1981 and which both lasted 16 months.

-----Original Message-----
From: Massoud [mailto:massoud1 at windstream.net] 
Sent: Monday, September 20, 2010 2:28 PM
To: graham2639 at mindspring.com
Cc: 'PAA discussion'; 'Deb Shafto '
Subject: RE: [PAA-Discuss] CNN Says Recession Ended June 2009

Well Kris, the last recession was over after Mr. Obama said so and it seems
a new one has already started but nobody knows about it yet! It is a
complicated economy "thing" you know. Only the experts can define it, we the
working people only can feel it!

Massoud

-----Original Message-----
From: discuss-bounces at paa-tx.org [mailto:discuss-bounces at paa-tx.org] On
Behalf Of Ron and Kris Graham
Sent: Monday, September 20, 2010 1:39 PM
To: 'PAA discussion'; Deb Shafto 
Subject: [PAA-Discuss] CNN Says Recession Ended June 2009

I wasn't aware the "recession" HAD ended. Have I missed something?

Kris

-----Original Message-----
From: CNN Breaking News [mailto:BreakingNews at mail.cnn.com] 
Sent: Monday, September 20, 2010 9:49 AM
To: textbreakingnews at ema3lsv06.turner.com
Subject: CNN Breaking News

-- Recession that started in December 2007 ended in June 2009, making it
longest since WWII, group says.

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