Some have commented that I'm too upbeat, that after all we are starting the next depression. The sick thing is that we just barely will be able to call this massive down turn a "Recession."
Lets quick review:
Definition of Recession: "...two consecutive quarters [6 months] of negative economic growth as measured by a country's gross domestic product (GDP)."
See http://www.investopedia.com/terms/r/recession.asp
(Note that 3 months is a Quarter so 6 months is the count)
Our US Current GDP: -6.40 % (Month 5 in a possible recession.)
See "Current Economic Indicators" at http://www.forecasts.org/gdprealgrowth.htm
(on the bottom of the page after the forecast)
Ya bad things happened and the market OVER reacted. Not to mention the TAX and SPEND of the government. Trillions later, and btw almost no real consumer stimulus as of today. Sure we have given so much to failing banks and car companies, oh and lets not forget the bailout of government sponsored housing. (doesn't that seem like double dipping, anyhow) The future of the GDP seems to be going positive... Imagine that... Businesses have failed in the past, so we chose to prolonged the agony and will have low GDP, little economic growth, and be on the verge of a real depression for the next 100 years but hey what do you expect. We live in an evil capitalist society.
I think some History in the classroom might be helpful. I smell a government program: "No child shall forget." Maybe we will not repeat this.
-Peter Mathias
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