Comments on: Your Take: Is The Recession Over?

By: Mr.C

Mr.C — Thu, 15 Oct 2009 19:50:08 +0000

What has changed from a year ago.We are simply in the eye of the storm

By: wendy

wendy — Thu, 08 Oct 2009 20:20:10 +0000

No way!! Look for things to worsen late 2009-into 2010.

Recession’s been over for the last year-we’ve been in a depression for the last 10 months or more.

By: CheapNLazy

CheapNLazy — Mon, 28 Sep 2009 20:03:58 +0000

We don’t care – WE JUST NEED JOBS!
My husband has been unemployed for 18 mo, and I worked/laid off 5 mo temp job during same time.

By: saladdin

saladdin — Mon, 21 Sep 2009 21:19:53 +0000

I am breaking my self imposed ban to reply to Wayne. Please become informed and not take all those forwarded emails as truth.

Congress does pay Social Security taxes.

http://www.snopes.com/politics/socialsecurity/pensions.asp

http://www.c-span.org/questions/weekly68.htm

saladdin

By: Pete

Pete — Mon, 21 Sep 2009 17:58:17 +0000

Hell no it’s not over. Who do they think thier fooling.

By: Alvis

Alvis — Mon, 21 Sep 2009 17:48:36 +0000

The Feds will say anything that will make them look good to the popalation at lsrge. Ask the ones that have no job and ones that have been cut to three days a week, and still more that are losing their jobs or will lose their jobs in the months to come.

By: freeby50

freeby50 — Mon, 21 Sep 2009 16:56:09 +0000

“I heard from Bloomberg that about 7,000 small
banks will fold by 2015″

I think you misheard that number. Theres only about 7,000 commercial banks in the country.

This article from Bloomberg cited potential for 150 bank failures:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aTTT9jivRIWE

150 out of 7000 is a 2% failure rate.

By: Chad

Chad — Mon, 21 Sep 2009 07:30:46 +0000

This “recession” actually has been a good thing for me. I started to take control of my finances and started doing the right things with my money about the time the recession started (I started getting out of debt, and actually managing my money for the first time in my life instead of having it manage me.) So as this recession wore on, I began to financially prosper. I became debt free in Febuary of 2008, built a fully funded 6 month emergency fund and started investing in stock mutual funds about the time the stock market crash hit. I didnt plan to invest just because the market hit its lows, its just the way my personal plan worked out and happened to hit the investing stage at the right time.

Early 2009 was the darkest period at work. We saw a drop in sales and everyone had hours cut, about half of us got laid off. I remember seeing people at work cry from the fear of losing thier job. Many went to 3 days a week, some of them 4 days a week. The place I worked for determined who had thier hours cut based on how valuable they were to the company. I focused on making the company dependant on me from the day i started back in 2006, knowing that if a slowdown ever came, I wanted to put myself in a position that even though they couldnt afford to keep me, they couldnt afford to lay me off either. But at the same time, I positioned myself financially for worst case scenario and would have been able to survive if I would have gotten laid off, so I didnt really worry to much about it. It’s been interesting to watch my savings grow and my net worth actually increase during this recession. its actually quadrupled over the last 33 months and has seen a steady increase, even tho my investments took a big hit early in the year.
So yes, they keep telling me we we’re in a recession, but I never entered one.

By: Mark

Mark — Sun, 20 Sep 2009 20:50:07 +0000

Sure it is over….because the depression just started. Take out government debt spending…

Oh, also take out the financial industry. The fraud that is occurring by not making institutions mark-to-market is tremendous. Look at the failure of Colonial Bank. BB&T immediately marked down the value of their residential loans 37% and the value of their commercial loans even more. The lying will continue until it can’t.

By: Andrew

Andrew — Sun, 20 Sep 2009 17:41:17 +0000

My wife and I both stayed employed, but the value of our real property and the value of our investments declined. Both are coming slowly back, and we didn’t panic and sell anything, but we definitely noticed the recession.

By: Shawanda

Shawanda — Sun, 20 Sep 2009 15:33:54 +0000

I really can’t say I was impacted much by this recession. I only had one friend lose a job in the recent past, but it was due more to the founder of the company being a fraudster than a downturn in the economy. If I were to go by my own perception, there was no recession.

So, is the recession over? It never started.

By: JustMe

JustMe — Sun, 20 Sep 2009 13:34:00 +0000

I agree with Amber… The “so called” economic leaders had no clue that the financial meltdown was on the horizon. If they did they should have worked tirelessly to prevent it. I do not trust them now when they say the recession is over. They are just trying to “spin” some (false) positive feelings in all of us. We need to be positive so that spending increases, but at this point there are too many ominous signs still out there. I’m going to hold tight on what little I have.

By: Chewbakka

Chewbakka — Sun, 20 Sep 2009 01:56:24 +0000

The magnitude of this wave has been said to be 1.5 times larger than the last wave of defaults…

By: Chewbakka

Chewbakka — Sun, 20 Sep 2009 01:50:31 +0000

In what industry, may I ask?

By: iNVESTRITE

iNVESTRITE — Sun, 20 Sep 2009 01:45:30 +0000

Plain and simple the effects are not disappearing