According to economists in the UK, the recession is over "over there". Thus reporteth the The Guardian.
One of Britain's leading economic thinktanks has called an end to the recession after industrial output showed its first rise in more than a year in April.
The National Institute for Economic and Social Research said March this year was the trough of the downturn that began in the summer of 2008.
....
"The monthly figures are inevitably erratic but the picture is coherent with the broader picture of stabilisation which has emerged since we first suggested that the output had stopped falling in our GDP release on 13 May", the NIESR said.
The projections seem somewhat premature and over-optimistic to me, but, I know very little about economics, and, of course, I could be wrong.
And, the recession ain't over "over here".
Mimi,
ReplyDeleteIt may be over here. I am now getting ignored for better jobs. ;-)
And oil prices are up.
Generally, in any recession, the lagging indicators are home sales and jobs. So we wont know from them for a while. This is the dangerous time when pols spend like mad and start inflation. Maybe Mr. Obama can keep the Congress in touch with reality. I hope he can.
FWIW
jimB
Jim, I hope that you get an acceptance soon, soon, soon. You're on my daily prayer list. Is there any hope that you can make some sort of deal with your mortgage company that will allow you to keep your house?
ReplyDeleteYou are correct Grandmère, it is premature and over-optimistic. The furthest reaches of the recession have not yet bottomed out. My palce of work informed 68 of my colleagues today that their jobs are up for the chop...and this is education...not manufacturing.
ReplyDeleteTheMe, I'm sure the news that the recession is over will be greatly consoling to to the folks declared redundant.
ReplyDeleteMimi,
ReplyDeleteThanks for the prayers.
I don't know about the mortgage. I am 63 now so we may qualify for some reverse amortization deals. I am gonna look into it.
FWIW
jimB
If it ain't full employment (everybody who WANTS a job can find one), then screw it! >:-(
ReplyDeleteJCF, of the Vast, Still-Growing Michigan Army...
JCF, prayers for you, my friend. The Army still grows "over here", as well as "over there".
ReplyDelete