Recession? What Recession?
Posted by Kirk M on 08 Mar 2008 | Tagged as: Times a changing
Is there a recession in progress? Nah…what makes you think that?
Shortly after 8 a.m., the Fed announced yet another measure meant to unlock the struggling credit markets. At 8:30, the Labor Department released the unexpectedly poor jobs report. Almost immediately, the economists at JPMorgan Chase — who only last week had told clients they thought the economy was still growing — reversed course and said a recession appeared to have started earlier this year.
Seeing an End to the Good Times (Such as They Were) - New York Times
The median household earned $48,201 in 2006, down from $49,244 in 1999, according to the Census Bureau. It now looks as if a full decade may pass before most Americans receive a raise.
Seeing an End to the Good Times (Such as They Were) - New York Times
Nope, no recession that I can see. Guess all the big boys who’ve pronouncing to the media that despite the fact that for all intensive purposes we’re headed straight down the old toilet, our economy is actually growing and our unemployment rate is up (Sure it is. Just tell that to the 600,000 additional part time workers who couldn’t find a full time position over the past year) obviously haven’t heard about a thing called The Internet and/or the World Wide Web now have they?
Who do they think they’ve been fooling?
Just a wonderful tidbit here since I’m still working on getting back on my feet. The weather ain’t helping that’s for sure.
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2 Comments »
on 09 Mar 2008 at 7:11 pm 1.IAmSoOverme said …
Yea I think it will be another decade before anyone gets a raise. I’ve seen that trend since about 2000. Corporations are so interlocked now that salaries are fixed. Just like price fixing. The media loves to make any attempt to bring down the markets with their constant doom and gloom reports. I noticed how they really turned up the intensity right after the new year. It’s so pathetic and transparent.
on 10 Mar 2008 at 4:35 pm 2.KirkM said …
The old way of “doing business” can’t last much longer. We’re already seeing the beginnings of the end now with CEO’s and the like being ousted from their posts, old businesses failing everyday. The question is whether our economy will be able to survive the time when they all come crashing down since as you say, they’re interlocked. Looks like interesting times ahead