Asked by Mark Parsec ^(16,695)
Mark Parsec 22 days 19 hours ago. (More question by this person)

Do you believe the Great Recession is over? Why or why not?

Yahoo News reported today, October 29th, that GDP indicates the recession is over.

Answer from Fran Larson ^(23,243)
Fran Larson 22 days 12 hours ago. More questions answered by this person)
   Selected as Best Answer!   
I think it is wishful thinking. Someone made an official announcement on some kind of data, but when I know people in my own family are hurting and without work, I would have to answer with no, it is not over.

Answer from Bruce Horst ⁽¹⁶²⁾
Bruce Horst 22 days 9 hours ago. More questions answered by this person)
Traditionally a recession is considered to be over when there are two consecutive quarters of positive GDP, but the reality is that the National Bureau of Economic Research decides when a recession starts and ends, and as far as I know they haven't called an end to it. They also determined that it started before there were two consecutive quarters of negative GDP. That's the technical answer.

My personal answer is that this recession will last until we change the factors which led to the recession in the first place, otherwise we'll end up in a far worse recession as a continuation of what we have already experienced. The sign I look for to indicate to me that there has been a turn around is when the middle class starts to expand again. So far it's still shrinking.

Answer from Gregory Lewis ^(1,502)
Gregory Lewis 22 days 9 hours ago. More questions answered by this person)
Marc,

First of all I apologize for asking this question again, even though I posed it in a slightly different way. For some reason I thought yours was an article, not a question. Sorry, didn't mean to walk all over your cloud!

In answer, though, I have nothing to gauge it by. I have been on the losing end of this recession for a long, long time, and I don't know if I can fully recover. I went from a very good situation in 1998-2003, and then I lost everything. In the intervening years, it has been a struggle to simply subsist and pay the astronomical debts I incurred while living in a more comfortable tax bracket. I feel like Dan Akroyd in that movie with Eddie Murphy, where the tycoons ruined him.

- G

Answer from E. Raymond Rock ^(3,087)
E. Raymond Rock 22 days ago. More questions answered by this person)
HAH!

Answer from Magiret Atif ⁽⁰⁾ 21 days 16 hours ago. More questions answered by this person)
Hello.

my name is magiret i saw your profile today and i became intrested in you and i will like to know more about you and if you can mail an email to my mail address i will give you my picture.here is my mail address (magiret2009@yahoo.com) i hope we can move from here.waiting for your mail to my mail address above.

magiret

Answer from Noelani Diles ⁽⁹⁾ 12 days 8 hours ago. More questions answered by this person)
No, I don't think so. In my opinion, if the population of prople that are least affected beleive its over or at least in that direction, then they'll feel more comfortable spending. And spending supposedly helps the economy. Pushing debt out to the future doesn't work. We all personally know that. Unemploymnt is setting record highs. And empty houses are everywhere. The proof is visible that it continues to be bad.