I heard over the radio today that the economy is doing much better now and that the worst of it is over. Also they said everything will be kinda back to normal around September. I noticed that gas prices are soaring up again. So is this all just BS or is everything actually getting much better?

(I thought I heard someone saying this was going to last 2 - 3 years, and they said this around the end of 2008?)

Economists say a lot of dumb things.

The unemployment rate in the US was higher than anticipated, AFAIK. Some may say the worst is over, but I really doubt that.

The big thing about the gas prices is that the US dollar is dropping against other currencies, which hurts the cost per barrel of gas.

Give the recession another 6 months. They didn't tell us we were in one until we had been in one for some time...We'll know when we're out of recession when it looks like we've been out of it for a few months.

Australia has officially avoided a recession, we had small growth last quarter. Unemployment is on the rise however and our economy is not in a good place despite the growth. Its just not as worse off as some other economies.

No it wont end till 2012.

well the loses are slowing down...

Unfortunately, they're still losses. We're not out of this yet.

The UK had economic growth last month, and we have a second month of growth (the first month's losses were pretty much wiped by the month's growth), that will mean one quarter - technically pulling us out of recession. The pound is also going up against the dollar and Euro.

I'm sorry to say that the recession ending would cause gas/petrol products to go up in price, because it's been the lack of demand for petroleum products that has been keeping the prices down (due to the recession), once everything is on the up again, the situation will be much worse than before.

The US economy always recovers extremely fast. By early 2010 all numbers will be positive and people are optimistic again.

And the rest of the world will follow within a year behind the USA.

Gas prices soar every summer.

1- USA debt is still too high so no problems have been solved. The USA government is just postponing the time bomb (as politicians like to do).

2- Interest rates are going up despite the gov's efforts, which will drive house prices even lower.

3- The banks are still under capitalized. Remember those "stress tests" that they did? They assumed a worst case of 9 something % unemployment, it's already more than that and still going up.

This is nowhere near over. The news channels are trying to paint a rosy picture but it's just the same old BS.