Quote:
Originally Posted by Norrin Radd
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. |
Worthless, emotional, financial pornography. The media hype makes normally rational people make irrational financial decisions. Ask yourself, What has really changed? Gas prices have finally gone up to match inflation? It was inevitable wasn't it? Some speculators overextended themselves and bought more house than they can afford - so now they'll lose their homes - were people losing their homes before? Dah! of course they were. So seriously - why is it worse this time? The answer is - IT IS NOT WORSE. It is hype.
As for your insistence on calling the current economic climate "a recession" - if you want to you can call a kitten a dog - go ahead, knock yourself out. It doesn't change the fact that we are not in a recession - we have economic growth. Sorry if those facts don't jive with your emotions - but facts are kinda tricky that way.
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I can picture in my mind a world without war, a world without hate. And I can picture us attacking that world, because they'd never expect it.
