Joined Dec 2003
L4: Apprentice
Forum Thread
People, we're NOT in a recession!!! but I (definitely) make more money than you!!!!
March 18, 2008 at
09:05 AM
Yet, we continue to obliviously spend like it's no big deal. It's time to buckle down!
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Last Edited by The Raddish
March 18, 2008
at
10:04 AM
A recession is defined as two consecutive quarters of negative growth of our GDP.
The fourth quarter of last year we had positive growth [marketwatch.com], though slowed. The economy grew at 0.6%. While low, it is still positive.
Therefore, we could not call this a recession until July at the earliest, and then only if the economy shrink s both the first and second quarters of 2008.
Slow growth and inflation are what we are witnessing now, but these two things do not a recession make.
The fourth quarter of last year we had positive growth [marketwatch.com], though slowed. The economy grew at 0.6%. While low, it is still positive.
Therefore, we could not call this a recession until July at the earliest, and then only if the economy shrink s both the first and second quarters of 2008.
Slow growth and inflation are what we are witnessing now, but these two things do not a recession make.
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Thanks for the tip, OP. Lots of us are being careful with what we buy. However, this is a spending-centered site, so you're not going to see a lot of talk about saving here. I'd say a good chunk of the users here are not those who will be directly affected by the recession since mommy & daddy still pay the bills.