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Do you agree with economists who say the recession ended in June
2009?
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THIS WEEK’S QUESTION:
“”Do you agree with economists who say the recession ended in June 2009?” Yes: 5 No: 7
? Dave Appling: “Sure. ‘Recession’ as used here is an economist’s technical term. The meaning for us lay persons is that we’re not yet out of the hole, but by July 2009 had stopped digging, and since then have been slowly climbing back to the sunlight.” ? Bert Berson: “No. Where can I get some of the Koolaid he is drinking?” ? Chris Bryant: “No, perhaps the economic measures they use indicate that the recession stopped getting worse, but we are in no way out of the recession as of yet.” ? Bob Chidester: “Not really, even though we may no longer have had a decline in GDP for two consecutive quarters. Ask the 12 percent unemployed in California, or the more than 15 percent unemployed in Kern County, or the more than 40 percent unemployed in the city of Mendota. I’ll bet they don’t think the recession ended in June 2009 and neither do I.” ? David Cohen: “Yes from a statistical abstract. But abstracts are not real and it will take some additional time for an economic recovery to be felt at the grassroots levels.” ? Mary Anne Groen: “I agree that the numbers say we broke from the definition of a recession, but I also agree with the analogy of recovering from a recession is like recovering from major surgery – it’s long and painful!” ? Dennis Kennedy: “No! Although we are on the road to recovery, the recession is not really over until folks are back to work, until a majority of 401ks have recovered much of their value, bankruptcies slowed way down and home ownership restored for those with a reasonable down payment and the ability to make their monthly mortgage payment.” ? Julian Mancias: “Yes. Based on quantitative data and by recession definition, the recession has ended. It’s the recovery stage that is hard to deal with.” ? Henry Miller: “Which economists are saying that, the employed ones or the out-of-work ones? I guess technically yes but … Maybe we should think of the recession like a cancer. The disease might be in remission but that doesn’t mean its effects aren’t still taking a heavy toll.” ? Lisa Pampuch: “Yes, I’m sure that the economy no longer meets economists’ technical definition of ‘recession.’ However, given how badly the economy tanked as a result of Bush Administration policies, the recovery is slower than we’d all like it to be.” ? Jeff Smith: “No I don’t, and I think the policies of this administration are making it worse. I’m glad the academics think it’s all over, but for those in the real world trying to provide for a family or run a business their pronouncements are empty and meaningless.”
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