Breaking the bank

break the bank

Depending on who does the polling (and how scientific the methods in the polling were – don’t get me started), roughly three of every four people say the recession is still going.

In the U.S., we have a very specific definition of a recession. It involves whether the economy is expanding or contracting, and for how long. By the economic definition of the word recession, it’s over. Has been for over a year. Whether you want to believe it or not, even.

It’s things like this that point out how useful (or useless) some words are. In my family, more than half the members of my generation have lost a job or had their hours cut in the past couple of years. It’s pretty scary if you’re watching it happen, even more so to live through it.

Best wishes to all my readers – even if the recession really is over, I know it doesn’t feel like it.

Comments

  1. Recession is not yet over. We can still feel the effects of it. Until today.

  2. The bureau pointed out that a downturn in the economy anytime soon would now mark the start of a new recession. The last time that happened was in 1981 and 1982, most economists believe.

  3. Yeah, I just saw a post of fox news mentioning congress just figured out the recession didn’t really end in 2009. It took them a year to figure that out? Even when they look at the unemployment rate, it doesn’t even look at people who are holding onto a thread to their business. I’ve tried getting a part time job to supplement my decrease in business but haven’t been able to get one.

    Hopefully it will be over soon.

  4. TJ McDowell says:

    It’s interesting the different perspectives we’ve seen throughout the last few years. Some people have done really well – never better, in fact. Other people have really tough times with finding employment. For us, we went full time with our business in the worst of the recession, but we’ve done well so far. I still have mixed feelings about how much of an impact the downturn has had. I guess the best I can do is be thankful that I have work.

  5. Yeah, i believe to that the recession is over. In the states at least. It is still felt in other parts of the world. In most countries o Europe too.

  6. Sometimes, the actual definition of a word just does not seem correct. Seems to be social and economic definitions, and they do not always match. I would still say it is a recession when people still cannot get a job.

  7. I feel you. I honestly don’t believe it’s over because people are still losing their jobs and businesses are going out of business. Maybe this is just the result of the recession and how companies have gone so far down, but I don’t see anything going back up. Good luck to everyone and hang on to what you have now.

  8. Nice picture. This reminds me that I need to bring my jar of coins to the CoinStar. It’s amazing how much money I actually saved up. I don’t think feel like the recession is over either..

  9. Wow….not looking much better yet…..when will things improve???

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