In Case You’re Wondering, it is Officially a Recession

December 2nd, 2008

Recession

 

In case you’re wondering, it is officially a recession. Yes, Martha, it is really a recession. That’s the official word from the National Bureau of Economic Research, which on Monday said the American economy has been in a downward spiral since December 2007. The bureau is a private group of top economists charged with dating the start and end of economic downturns. One sign of the downturn is that employers axed payrolls by 1.2 million jobs in the first 10 months of this year, reports CNN. On Friday, economists predict the government will report a loss of another 325,000 jobs for November, according to CNN.  The current recession is one of the longest downturns since the Great Depression of the 1930s.The last two recessions (1990-1991 and 2001) lasted eight months each, and only two of the 10 previous post-Depression downturns lasted as long as a full year, according to the bureau.

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Comments

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LYNN Said on

WOW!!..”DUH”!!..WHEN DID THIS HAPPEN?.



Sunshine Said on

Ask the people that lost their jobs, homes, and dignity, they could have told you this a long time ago. You didn’t need to be a Harvard Graduate to figure this one out.



Bay Said on

Hum now they telling the truth. So what now ,all I see is the rich getting richer!



david Said on

You people’s all you do is take .



david Said on

Take , take.



david Said on

You people’s



david Said on

We black people’s may not get are welfare will who we going to blame for just taking welfare for all this years.



SHARONDA Said on

WE GOT OBAMA NOW HE GONNA FIX WHAT THEM CRACKAS BROKE!!
HE ALL REDDY LOWER THE GAS PRICES THANK YOU OBAMA!!



david Said on

my mother raised me and my eight brothers and sisters on walfare, it was meant only for white people!!



Monique From MN Said on

David all your comments are out of plain ignorance. You have so much to say when it comes to degrading african-americans, so why bother even coming on a african-american based web-site? Just keep your comments to your self



Sweetpea Said on

I don’t know why they took so long to call it a “recession” when everyone of us knew it months and months ago. Are we surprise NOPE!!! I’m glad the rest of the world has caught up and now it’s reality. I hope we can manage through this “recession maze”. Bush has really screwed all the people this time but that’s he’s M.O.
God Bless America for we need you NOW more than any other time in our lives — WE NEED YOU, FATHER GOD in all areas of our lives.



PENNIE Said on

Thanks Monique I cant stand DAVID he always have something really stupid to say always.



StephanieInCA Said on

NBER can roll out all the fancy “statistics” they like, I think we were officially in a recession right about when people started wearing clothes made from their pets’ shed fur.



mad max Said on

david knows it’s a recession because he was fired from the waffle house by his black teenage manager for stealin toilet paper and dill pickles. that’s why he so mad at black folks now he got to live in the alley behind the dumpster with the rest of the trash and sit in the library all day pickin his nose and tryin to keep warm. so he really has nothing else to do but get on the internet and blog b.u.l.l.s.h.i.t. he lost his sanity and dignity long ago, now he’s just a shell of a creature. pity him.



fefe Said on

TO all AA let david say what he want i told yall bet is not on our side the more yall feed into his negativity the more they get paid so let david dumb ass speak



david Said on

Waffle House? I did not know those still exist.!!!! I thought those were only in the dirty ghetto…!!!



NurseGirl Said on

RECESSION IS IN YOUR MIND…………THOSE WHO ARE STEWARDS AFTER THEIR RESOURCES ARE NOT FEELING THIS………………..



Patrick Said on

If black people on welfare caused this recession then why are the auto makers and insurance companies and others are asking for handouts? Isn’t this welfare? Also, david, do you know the statistics of the number of people that are on welfare and by race? And check out the CORPORATE WELFARE system, as well. It may open up your mind but I doubt that. Please read more and stop letting the media feed you baby food.



mad max Said on

david,

dirty ghetto…no I meant the waffle house right next to your mammy’s stinkin trailer…!!



mad max Said on

JOHN MCCAIN SAID THE ECONOMY IS ON SOUND FOUNDATION. WHAT THE HELL HAPPENED?????