Thursday, September 23, 2010

Economists: Recession Ended in June, 2009

Anemic “Growth”, Persistent Unemployment Say Otherwise

In an economic report sponsored by the U.S. Government, Economists report that the Greatest Recession since the Great Depression ended in June of 2009.

Do they really think we’re that stupid?

June of 2009 is the same month the economy hemmoraged nearly 500,000 jobs and the Obama Administration seized control General Motors, adding it to the list of industries they were seeking to control (Cars, Banking, Wall Street & Health Care.) 

With nearly half the U.S. economy under direct control of the Obama Administration, do these so-called “Economists” who happened to write an economic report sponsored (read that: paid for) by the U.S. Government really expect us to believe this crap?

Today, September 23rd new first-time requests for unemployment4rde04[7] checks reached an all-time high of 425,000 according to U.S. Department of Labor statistics.  Last week, there were some 410,000 new, first-time claims.  In just two weeks that’s 835,000 people who’ve lost their jobs and are applying for unemployment checks.

Yet, the economy is “growing” and the Greatest Recession since the Great Depression has been over for more than a year.

Oh really?

A recession is traditionally defined as two or more consecutive quarters of economic contraction and a reduction in GDP as measured by factory output.

During recessions, GDP, employment, investment spending, capacity utilization, household incomes, business profits and inflation all fall while unemployment and bankruptcies rise.

A recession is declared to be over when there are two or more consecutive quarters of economic growth as defined by GDP, shrinking unemployment, rising household and business incomes, growth in prices (inflation) and falling bankruptcies.

Given these traditional definitions of what a recession is and when it is declared over, where is the U.S. Economy?

You can damn’ sure bet it’s not in “growth” mode as the only reason most companies are posting profits are due to massive layoff’s that have been, and continue to occur over the last 20-24 months.

The Obama Administration can spin the numbers any way they want, the truth is we are still in the Greatest Recession since the Great Depression.

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Israel Snubs Obama at U.N.

Seems that Israel recognizes a muslim appeaser when they see one.  Here’s video from Obama at the Useless Nations this morning.  Note Israel’s seats are EMPTY.

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