Thursday, September 23, 2010

The Recession is Over?

I went on Yahoo! the other day to check my email and saw a link to a story that said that economists declared the recession over. I don’t read a lot of news, but I think I do a good job of keeping up on current events. This just sounded preposterous to me, so I clicked on the link and read the first couple of paragraphs. It said something like although economists know that the country is still struggling, the recession is over. What’s more, they also said that the recession ended in June. Of 2009.

I’d like to know if economists get drug tested, because they are obviously smoking crack. Seriously? June of 2009? My wife was laid off in March and still can’t find work. My job at the auto parts factory cut all overtime, so I’ve had to take a second job at a convenience store. I now work more hours for less pay. My neighbor recently moved out and his house is in foreclosure. Our house isn’t worth what we paid for it.

The other day, I was on the bus talking to my co-worker Jerry. I told him that I want a job as an economist. I’m sure it pays well, and I know more about the economy than they do. The guy behind us interrupted us. He’s apparently an economics professor at the community college. The guy said that a recession happens when the economy is contracting. Although we haven’t dug out of the hole yet, he explained, the economy isn’t contracting anymore, so it isn’t in a recession. I told him that may be his definition, but I know w a recession when I see one.

I may not be the most informed person, but that doesn’t mean I shouldn’t have an opinion.

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