Quote:
Originally Posted by Alex
Sorry, but it doesn't work that way- we have measurements for these things. Just because YOU think and feel we are in a recession doesn't mean we are - the economic indicators numbers are the measurement - not your emotions.
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Emotions. Yeah, right.
I know the "official" definition of the word recession, but I don't agree with it.
When you have record foreclosures, increased unemployment, record losses for banks, large increases in both public and private debt and .......
The number of chapter 7 bankruptcies, where all debt is liquidated, rose 36% as of March 2008. Bankruptcy statistics released yesterday indicate that there are 146,721 more Chapter 7 bankruptcies than last year and the total non-business filings is 871,186. for the twelve month period ending March 31, 2008.
Personal Bankruptcies Continue to Rise -- Consumer Tips to Avoid Money Problems in an Uncertain Economy
.......then these are all signs of a recession.
If you wish to stick to the "official" definition of a recession, then you are correct. However, if you use common sense and logic, not EMOTIONS, then I am correct.