Today a board of economists that decide recessionary cycles, have determined that the recession is over after 18 months! WHAHOO! Dance in the streets, the recession is over!!!!
Wait just a minute....I don't mean to be a Negative Nancy or a Downer Dave but we still have a bunch of problems:
1. Jobs? There are none with 9.7% unemployment
2. Housing- showing signs of a recover but definitely, in no way, recovered.
3. Banks lending- Ya right, nice try.
4. Debt- We as a nation and as a consumer have wayy too much debt, which will cause problems eventually
5. Consumer Confidence- Beginning to show signs of a recovery with the great numbers from Best Buy but still not recovered.
Look should we be happy that the "recession is over", sure. However, when you get down to the issues, I am not seeing the recovery and the end of a recession. I am skeptical of this announcement and would be cautious while everyone is partying. I will say however, that things are a lot better than they were even a month ago and that does deserve some recognition. All I am saying is, be smart and make educated decisions.