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  1. #11
    WiiChat Member hal2814's Avatar
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    Quote Originally Posted by 261311
    Bernake said that the US is in a recession, hence why within the past 2 months he's lowered your interest rates almost 2.5%, and just 3/4 of a percent last week (or so).
    You have a link for that, right? I'd be interested in seeing Bernake make such a foolish error in wording. "Recession" isn't some nebulous term meaning things aren't going so well. A recession is what happens when the GDP for your nation goes down for two consecutive quarters. Right now the US is in a slow growth phase but I do emphasize the word "growth." The earliest a recession could possibly happen is June 08 since Q4 07's GDP grew by 2.6% but even a June 08 recession is unlikely since at about 1/3 the way through this financial quarter, a drop in growth is highly unlikely. Most forecasts have growth at under 1% by the end of 2008 so a recession (if it happens this economic cycle) will likely not start until June 2009.

  2. #12
    3D Artist sagema's Avatar
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    We lose a trillion dollars a year on Iraq. That equals recession, hell that equals insane debt. Am I the only one here who lived through the Cold War? What defeated the Soviet Empire? They ran out of money by spending it all on military! Does history repeat? A bit too much I'd say.

    Russia had the Berlin wall. We have one too. It's big oil keeping solar and wind power away from the consumer. It's an invisible wall of energy oppression.
    Last edited by sagema; 01-29-2008 at 02:53 PM.

  3. #13
    The Man on Ice 261311's Avatar
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    Quote Originally Posted by hal2814
    You have a link for that, right? I'd be interested in seeing Bernake make such a foolish error in wording. "Recession" isn't some nebulous term meaning things aren't going so well. A recession is what happens when the GDP for your nation goes down for two consecutive quarters. Right now the US is in a slow growth phase but I do emphasize the word "growth." The earliest a recession could possibly happen is June 08 since Q4 07's GDP grew by 2.6% but even a June 08 recession is unlikely since at about 1/3 the way through this financial quarter, a drop in growth is highly unlikely. Most forecasts have growth at under 1% by the end of 2008 so a recession (if it happens this economic cycle) will likely not start until June 2009.
    Thanks for that huge tidbit of information, god knows I wouldn't of known after 4 years and about 10 business classes. Whether you like it or not, Bernake had the balls enough to admit that the economy is on a serious downfall, thus naming it the beginning of a recession. Don't tell me what I do or don't read.

    The source was in some local newspaper called the Toronto Star, if you want it bad enough you can root through some small collectors shop.
    Last edited by 261311; 01-29-2008 at 02:57 PM.
    With much love, 261311.

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  4. #14
    WiiChat Member hal2814's Avatar
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    Quote Originally Posted by 261311
    Thanks for that huge tidbit of information, god knows I wouldn't of known after 4 years and about 10 business classes. Whether you like it or not, Bernake had the balls enough to admit that the economy is on a serious downfall, thus naming it the beginning of a recession. Don't tell me what I do or don't read.

    The source was in some local newspaper called the Toronto Star, if you want it bad enough you can root through some small collectors shop.
    Don't get mad at me because you're playing fast and lose with your wording and get it wrong. Heading for a recession is an entirely different thing than being in one. I'm surprised your business classes didn't make that clear. I never told you what you did and didn't read. I just called you out for seriously misstating something you did read by asking for a source when I knew there was none.

  5. #15
    The Man on Ice 261311's Avatar
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    There is one, but have no time to baby you and other members through everything, I care not to rout through piles of papers my school has just to prove to some 12 year old (or one with equal maturity) that he's in fact wrong.

    I worded nothing wrong because heading to a recession, and there being a recession is in fact very close nit (hence either way the economy is declining), and because of the pace the economy is sliding at, the two are extremely interchangeable.

    Argue all you want, I just read and respond because it's a gas and I'm extremely bored.
    With much love, 261311.

    Quote Originally Posted by JT.
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    -=Join the Waluigi Fan Club=-


  6. #16
    Guru of everything Ninty wezeles's Avatar
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    Hal2814 A Recession as you stated, straight from Wiki i might add, is a negative decline for 6 months. That is one deffition of a Economic Recession...

    Here ill add the rest of the Wiki deffintion. It doesn't go inline with your defense you probably stopped reading it. lol

    An alternative, less accepted definition of recession is a downward trend in the rate of actual GDP growth as promoted by the business-cycle dating committee of the National Bureau of Economic Research.[1] That private organization defines a recession more ambiguously as "a significant decline in economic activity spread across the economy, lasting more than a few months." A recession may involve simultaneous declines in coincident measures of overall economic activity such as employment, investment, and corporate profits. Recessions may be associated with falling prices (deflation), or, alternatively, sharply rising prices (inflation) in a process known as stagflation.


    Many people including Bernake have said we are "in a recession." Probably considering it among this line of deffinition.

    And probaly why this is accepted is based on the deffinition you pick to be correct there is no way to ever acctually say you are currently in a recession unless its been over 6 months time, and after that much time alot of people would start calling it a depression instead of a recession.So at most you could say we were in a recession. Its a nasty loophole making no one right untill its too late.

    Kinda nice when you can bend and twist facts to always make you right isn't it? 90% of this world is opinion and in the end it matters little to anyone other than yourself, why argue over it?
    The economy currently sucks, the whole world is hurting a little in someway, thats not a huge news flash to anyone.
    Last edited by wezeles; 01-29-2008 at 03:41 PM.


  7. #17
    WiiChat Member hal2814's Avatar
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    Quote Originally Posted by wezeles
    Hal2814 A Recession as you stated, straight from Wiki i might add, is a negative decline for 6 months. That is one deffition of a Economic Recession...

    Here ill add the rest of the Wiki deffintion. It doesn't go inline with your defense you probably stopped reading it. lol
    I didn't need to consult the Wiki for the definition of a recession. That other definition by your very quote is "an alternative, less accepted definition." I've never heard it but I'll keep it under advisement in the future.

    Quote Originally Posted by wezeles
    Many people including Bernake have said we are "in a recession." Probably considering it among this line of deffinition.
    I'm still doubting that Bernanke ever actually said we're in a recession. Does ANYONE have any evidence that he really said this?

    Quote Originally Posted by wezeles
    And probaly why this is accepted is based on the deffinition you pick to be correct there is no way to ever acctually say you are currently in a recession unless its been over 6 months time, and after that much time alot of people would start calling it a depression instead of a recession.So at most you could say we were in a recession. Its a nasty loophole making no one right untill its too late.

    Kinda nice when you can bend and twist facts to always make you right isn't it? 90% of this world is opinion and in the end it matters little to anyone other than yourself, why argue over it?
    The economy currently sucks, the whole world is hurting a little in someway, thats not a huge news flash to anyone.
    I see your point about it being hard to say you're in a recession until it's too late but there was GDP growth just last quarter. Most forecasts are still showing GDP growth throughout 2008. It's a little early to be throwing out terms like recession. And I know I'm using the real definition of the word instead of the "alternative, less accepted definition."

    It's worth arguing because by the time you're really using the word recession, it's unavoidable. The entire global economy looks bad right now but it isn't unsalvagable. It would be a shame for everyone to give up because then you would have a genuine self-fulfilling prophecy.

  8. #18
    3D Artist sagema's Avatar
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  9. #19
    The Man on Ice 261311's Avatar
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    Quote Originally Posted by hal2814
    I'm still doubting that Bernanke ever actually said we're in a recession. Does ANYONE have any evidence that he really said this?
    Instead of trying to argue every single post that's made on this forum why not look for it yourself? I'll even let you publicly deny any found results if you do stumble across a web article.

    *comes up behind sagema and steals his keys* hehehe
    With much love, 261311.

    Quote Originally Posted by JT.
    Maybe it's implying yoshi is an animal, and not just a mutated green prostitute mario likes to ride
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  10. #20
    Let There Be Rock vashivihan's Avatar
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    we are not in recession. its just that the econimt of the world is doing bad right now. i am sure it will go up



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