Funny how certain connected corporations are able to take tax money while exporting jobs overseas, and claim profits. But those of us in the trenches who have no jobs and are losing our homes, do we get any money or tax relief from that same govt.?
I don't accept the rational for "recession over" as every single person could be out of work and starving in the street while the companies could still show record profits.
The "recession over" metric is "the point at which things stop getting worse", based (usually) on GDP: the value of everything produced/provided in a year by a country. It's not based on corporate profitability -- theoretically, companies could be losing money even while GDP grew.
The metric is tinkered with to achieve political effects. Sometimes it's GDP, sometimes it is employment; it depends on what metric will result in Republicans to blame. For example, the collapse of the markets in mid 2000 was post-dated to March of 2001 so that it would occur on Bush's watch, but once a recession was announced at the end of Bush's term, it was pre-dated by a year, and then later two years, to disconnected it from the Democratic takeover of Congress in 2007.
I think it's pretty clear that the Internet bubble was on Clinton's watch, and the housing on Bush's, and that both parties had a hand in fomenting each.
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timeasmymeasure
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Date: 2011-07-11 05:18 pm (UTC)I don't accept the rational for "recession over" as every single person could be out of work and starving in the street while the companies could still show record profits.
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Date: 2011-07-11 05:41 pm (UTC)no subject
Date: 2011-07-11 07:42 pm (UTC)===|==============/ Level Head
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Date: 2011-07-11 08:16 pm (UTC)no subject
Date: 2011-07-11 11:29 pm (UTC)Most folks think (and write in the New York Times) that Bush inherited a perfectly good economy and somehow messed it up.
The loss of half of the NASDAQ market's value during 2000 seems not to phase them.
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