75% Recession
Posted By: Dr. Frugal in Economics on 03/18/2008 at 11:30:22
According to CNN 75% of Americans think we're in a recession. I for one, do not think so. I'd really like to know who they're polling. They're certainly not calling people at work--people who have jobs. They're calling people at home and the likelihood of someone sitting at home not having a job is probably much greater than someone being called at work. If they called me I would happily tell them I spend as much money as I always have (not much) but I think the fears are completely unwarranted. I think the market is just correcting itself after being abused for so long with the credit debacle.
Comments
Posted by Are you kidding? at March 30, 2008, 4:16 pm:
Compare your spending in the past 30-180 days to a year ago. Anything different? Thats called the pullback. Pullback=less spending . All those friends that have been spending their HELOC money on LCD's and new Hummers are bankrupt....the house of cards has fallen. We are in a recession, why fight it ?
Posted by Dr. Frugal at March 31, 2008, 8:29 am:
All I can say is that our company is hiring like mad and I don't know a single person who has lost their job because of the economy. I understanding what you're saying about pullback in consumer spending but I don't think you can use the term "recession" until people start losing jobs with a little more regularity.
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