Crush Liberalism

Liberalism: Why think when you can “feel”?

That “recession” is going to have to wait

It’s not here yet.  Sorry ’bout that, libs.  From al-Reuters:

Expansion accelerated modestly in the second quarter as government stimulus payments helped consumers add more buying punch to the economy, a Commerce Department report on Thursday showed.

Gross Domestic Product or GDP grew at a 1.9 percent annual rate, up from a revised 0.9 percent rate in the first quarter that previously was reported as 1 percent. …

In order for a recession to hit us, we need at least two consecutive quarters of negative growth.  We haven’t had that yet.  Look, I’d be lying if I said the economy was in great shape, but if you’re going to use the term “recession”, my only request (nay, demand) is that you get the definition right.

Advertisement

July 31, 2008 - Posted by | economic ignorance

5 Comments »

  1. “I’d be lying if I said the economy was in great shape, but if you’re going to use the term “recession”, my only request (nay, demand) is that you get the definition right.”

    I agree this by definition is not a recession. However I’ve lived through several recessions and have never had one take such a bite as what we’re in now. I’ve never had so many friends out of work and had so many other costs rise all at the same time hurting almost everyone I knows person economy to an extent of almost bankruptcy. Perhaps economists need to come up with a new term for what were in.

    Comment by Steve | July 31, 2008

  2. Perhaps economists need to come up with a new term for what were in.

    Steve, I think it’s called “life”.

    Comment by Kanaka Girl | July 31, 2008

  3. Dammit, Crush, there you go again, insisting that liberals use verifiable FACTS. When are you going to learn that you don’t need to think if you can feel?

    Angry D.

    Comment by Angry D. | July 31, 2008

  4. “Perhaps economists need to come up with a new term for what were in.”

    I believe it is called cost-push inflation.

    “In order for a recession to hit us, we need at least two consecutive quarters of negative growth. We haven’t had that yet.”

    We haven’t even had one since the “r” word began being tossed around.

    Comment by TheBad | July 31, 2008

  5. More bad news for the libs: the homeless population is down.

    Comment by Lori C. | August 1, 2008


Leave a Reply

Fill in your details below or click an icon to log in:

Gravatar
WordPress.com Logo

You are commenting using your WordPress.com account. ( Log Out / Change )

Twitter picture

You are commenting using your Twitter account. ( Log Out / Change )

Facebook photo

You are commenting using your Facebook account. ( Log Out / Change )

Cancel

Connecting to %s

« Previous | Next »

Follow

Get every new post delivered to your Inbox.

Join 25 other followers