Kasz216 said:
lordmandeep said:
True the US is not in a recession but the only reason the US economy looks half decent is because now the Europeans are in a worse spot.
I think we need to adapt to the current situation by rethinking our basic economic understandings.
What we have now is not a recession. Things are not getting worse, but things are not improving much.
The economy is improving, but my good friend the economic decline that occurred (rather harshly to many) has not gone back to per-recession levels and unlike many developed countries, the US population has grown by millions since 2008. That means for most people things are still quite bad and due to weak leadership in Washington and Europe, there is great instability.
So, yes we all know about macroeconomics but do not be so simplistic and think just because we are not in technical recession that things are great and we can go back to massive tax increases like if we are in booming economy.
The US is not in a recession, but I do not see how one can see how tens of millions and perhaps 100's of millions of Americans feel like if they are in a recession.
Things have improved in the past few months, but we have seen due to great instability that things can easily reverse.
Its quite remarkable in Canada people talk about a bad economy but if you drive across the border you see it straight away how things are so much worse in the US.
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Yeah... the numbers in general aren't in recession anymore, HOWEVER They aren't large enough to meet increasing population numbers (EX new jobs in a month enough jobs to cover all the new workers that would like to work entering the workforce in that same month.)
Essentially things are getting worse... but better worse anyway. Though europe will send us all back to the ground again. Thankfully it seems like the "Too big to fail" banks are pretty well secured this time however. I can't imagine how many people would be pissed if Obama had to pull another TARP next term.
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I wouldn't be too sure about that. We're finding out that TARP was nothing, compared to what they REALLY needed to get bailed out. And the banks are still under-capitalized for their size and very much still in danger of having repeat performances. (And let's not forget TARP wasn't enacted under Obama. It was in 2008 when Bush was president, and he gave ultimate power to treasury Sec. Paulson to administer funds as he liked using executive order. People seem to forget that a lot.)
