I've noticed that it's much easier to find a job this year and that there's a lot more building. I wonder if we've reached the "new normal" that the media has gone on about finally. I don't think we're in another boom but it does seem like the economy is no longer in a dismal state.

From wiki:

"There are two senses of the word "recession": a less precise sense, referring broadly to "a period of reduced economic activity", and the academic sense used most often in economics, which is defined operationally, referring specifically to the contraction phase of a business cycle, with two or more consecutive quarters of negative GDP growth. If one analyzes the event using the economics-academic definition of the word, the recession ended in the United States in June or July 2009."

The recession in America is for sure over. In Europe, only slightly so with a serious chance to relapse in my eyes.

While wiki states the end in terms of economic terms, I don't think the effects really started to wear off until sometime in 2012. That said, now I'd say the economy is almost as good as it was for much as the '90s now, with lower gas prices, decent growth, and somewhat improved geopolitical tensions.

While wiki states the end in terms of economic terms, I don't think the effects really started to wear off until sometime in 2012. That said, now I'd say the economy is almost as good as it was for much as the '90s now, with lower gas prices, decent growth, and somewhat improved geopolitical tensions.


Really, somewhat improved? With ISIS, Putin more or less re-igniting the Cold War (on a much smaller scale of course), North Korea being more belligerent? I think this has been somewhat of a tragic year, actually.

While wiki states the end in terms of economic terms, I don't think the effects really started to wear off until sometime in 2012. That said, now I'd say the economy is almost as good as it was for much as the '90s now, with lower gas prices, decent growth, and somewhat improved geopolitical tensions.


WHAT, ???, there's no way that's true, I mean we are still dealing with the after effects of the 2008 financial crisis(some 6 years later) and that will probably last for the rest of the decade. I predict in the future "The Great Recession" will be defined as an era lasting from about 2008-2020/2025.

It doesn't feel like it's over

It doesn't feel like it's over


I hear ya.  There are still many after effects going on.

Also, given falling oil prices, we might be facing another economic crisis.

It will probably happen before 2020; 10 years without recession are rare (though possible).

The recession is over in the UK, but most families are still earning far less than in 2007, and only recently have wages started increasing again, so while the economy is growing, wages are just starting to catch up.

oh, and we have a lot of poor people struggling to eat now, with food banks popping up all over the place, which didn't seem to exist in 2008. Sad.

I've seen people saying 2017 will be the next recession but not severe, just a blip like the early 1990s. We'll see.

WHAT, ???, there's no way that's true, I mean we are still dealing with the after effects of the 2008 financial crisis(some 6 years later) and that will probably last for the rest of the decade. I predict in the future "The Great Recession" will be defined as an era lasting from about 2008-2020/2025.


I don't think so. The economy is getting better. Job growth in 2014 was the strongest that it had been since 1999. A recession happens every eight years. The Great Recession started in late 2007, so the next recession will likely occur in late '15. Like shadowcookie said, I think this recession will be just a little blip, nothing too serious. Don't be so pessimistic, you gotta think positive. ;)


Proof of my job growth claim:
http://www.wsj.com/articles/u-s-job-growth-rebounds-in-september-1412339557

The problem is that labor participation went down:

"Labor Force Participation Rate At Its Lowest Since The 1970s"

https://finance.yahoo.com/news/labor-force-participation-rate-lowest-142002777.html

Also, because many markets (oil, stocks, bonds, commodities) are becoming very volatile, we may be entering another financial crisis.

It is over, but it was a great recession while it lasted.  :P

It is over, but it was a great recession while it lasted.  :P
Thank goodness for that!

"Treasury Bond Yield Drops to Record Low Amid Fear of Global Deflation"

http://www.bloomberg.com/news/2015-01-14/treasury-bond-yield-drops-to-record-as-oil-rout-damps-inflation.html

It is over, but it was a great recession while it lasted.  :P
It was not so great for some people, especially when made unemployed.

It was not so great for some people, especially when made unemployed.


and on food stamps and medicaid.