U.S. Incomes Fell More In Recovery, Sentier Says By Jeff Kearns - Aug 23, 2012 4:21 PM ET
American incomes declined more in the three-year expansion that started in June 2009 than during the longest recession since the Great Depression, according an analysis of U.S. Census Bureau data by Sentier Research LLC.....................>>>>................>>>>................http://www.bloomberg.com/news/2012-08-23/u-s-incomes-feel-more-in-recovery-sentier-says.html
Drop in incomes and a ever increasing cost of living, like I said before the recession never ended.
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
In a 1975 New York Times article, economic statistician Julius Shiskin suggested several rules of thumb for defining a recession, one of which was "two down consecutive quarters of GDP". In time, the other rules of thumb were forgotten. Some economists prefer a definition of a 1.5% rise in unemployment within 12 months.
In the United States, the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) is generally seen as the authority for dating US recessions. The NBER defines an economic recession as: "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." Almost universally, academics, economists, policy makers, and businesses defer to the determination by the NBER for the precise dating of a recession's onset and end.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
The NBER has officially dated the end of the Great Recession (The Bush Economic Meltdown) June 2009:
The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday by conference call. At its meeting, the committee determined that a trough in business activity occurred in the U.S. economy in June 2009. The trough marks the end of the recession that began in December 2007 and the beginning of an expansion. The recession lasted 18 months, which makes it the longest of any recession since World War II. Previously the longest postwar recessions were those of 1973-75 and 1981-82, both of which lasted 16 months.
Whether we enter another recession depends on what happens next.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Wow, look at the increase in US Employees during the term 04-08 ... then the precipitous drop in 08, 09 and 10. The huge drop is obviously Bush's fault, eh Box?
Wow, look at the increase in US Employees during the term 04-08 ... then the precipitous drop in 08, 09 and 10. The huge drop is obviously Bush's fault, eh Box?
YUP! It really IS BUSH'S FAULT!!! Read on:
Look at where jobs came from with Obama and with G Worst Bush. Bush LOST private sector jobs... Obama gained private sector jobs.
Bush added Public Sector Jobs (BIG GOVERNMENT) Obama Cut Public Sector Jobs (smaller Govt)
Just like everyone keeps telling you Rusty... IT'S GEORGE WORST BUSH'S FAULT!
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
over leveraging passed from one generation to the next.....like the tub waves we'd make as kids in the tub...pushing the water forward, only we didn't have a word for it....
TSUNAMI!!!!!!!
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Unfair, you say, because Mr. Obama inherited a recession? Well, even if you start the analysis when the recession ended in June 2009, the numbers are dismal. Three years after the economy hit its trough, median household income is down $2,544, or nearly 5%.
Add the authors: "The overall decline since June 2009 was larger than the 2.6 percent decline that occurred" during the recession from December 2007 to June 2009. For household income, in other words, the Obama recovery has been worse than the Bush recession.
Unfair, you say, because Mr. Obama inherited a recession? Well, even if you start the analysis when the recession ended in June 2009, the numbers are dismal. Three years after the economy hit its trough, median household income is down $2,544, or nearly 5%.
Add the authors: "The overall decline since June 2009 was larger than the 2.6 percent decline that occurred" during the recession from December 2007 to June 2009. For household income, in other words, the Obama recovery has been worse than the Bush recession.
Of course Shadow knows, but neglects to say, that income drop like the ones he describes always lag in a recession and lag when they recover.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
American incomes declined more in the three-year expansion that started in June 2009 than during the longest recession since the Great Depression, according to an analysis of U.S. Census Bureau data by Sentier Research LLC. Not my words Box right from the article, both this and the above statements. You just can't admit that Obama is in way over his head and most of his advisors are college professors who have never worked in the real world and have only dealt with theory.
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