After reading the article from the USA TODAY written by John Waggoner, take a stance on where you think the United States Economy is today compared to where Waggoner suggested back in 2008. Find three valid sources that back your oppinion and write why you think we are in that particular stage of the business cycle. Be sure to include information from your references to help strengthen your argument. Don’t forget to cite your sources in MLA format at the end of chunk paragraph.
A recession is a short term dip in our economy, is two and a half years in business terms short? We have been in a “recession” since 2008. I believe that we are on the brink between recession and depression. We are just at that point where it is hard to tell how much longer we will be in one and how bad it will worsen. Right now the unemployment rate is 8.7%. When we had the depression it was over 20%. We are not even half way there but we are growing and might get up that high if we don’t recover. Right now the inflation is around 1.6% and during this year it is projected to grow to 1.7%. We are slipping back into a recession for multiple reasons including: consumer’s lack of spending, the unemployment rate, and the stimulus is drying, etc. I believe we were in a recession and then went along to recover but we slipped back into a recession. This means we might even dig a deeper hole for ourselves. I believe we are on the edge between recession and depression.
http://www.theatlantic.com/business/archive/2010/06/are-we-slipping-back-into-a-recession/57903/
http://en.wikipedia.org/wiki/Depression_(economics)
http://www.foxbusiness.com/personal-finance/2011/03/09/inflations-low-prices-rising/
http://www.google.com/publicdata?ds=usunemployment&met=unemployment_rate&tdim=true&dl=en&hl=en&q=unemployment+rate&safe=active
i like your deffinetion of recession i agree with it too.
i agree with you jake. the unemployment rate is increasing. we have been going downhill for some time now.
What is a recession? A recession is a general slowdown of economic activity. There has been debate whether the United States has been is a recession or recovery. I feel that the u.s was in a recession then was in recovery but is now back in a recession. If we don’t fix the problem soon we could fall into a depression. One way to help get back on our feet is small business. Why small businesses? Small businesses will supply job to thousands of people all over the u.s.
http://www.ehow.com/about_5459077_reasons-small-businesses-important.html
http://www.boston.com/business/articles/2008/03/15/recession_is_here_economist_declares/
http://www.usatoday.com/money/economy/2008-11-03-economy-depression-recession_N.htm
i agree. if you look at my response i have the same opinion. we were in a recession then in recovery then back in a recession.
how you explaind what is a recession was very inteligent. it also makes alot of sence, good job kody.
kody i agree with this because small businesses do suplly a lot of jobs.
small businessess will decrease the unemployment rates. the more money people make, the slower our national debt will go up.
i also agree that we are in recession. good job. (:
i agree kody, my post totally supports this
I think you are right about small businesses, the more there are the better the economy gets..
A controversial topic today is whether or not we are recovering from a recession, still in a recession, or even in the dreaded depression. I think that we are still in a recession, but not a recession bad enough to qualify as a depression. The Bureau of Economic Activity stated that the GDP of the U.S. has increased slightly in the first quarter of 2011. The GDP, or Gross Domestic Product, is an indicator of what situation the economy is in. The GDP for America is still low, but it is increasing. Our economy is still in difficult times though. The spending in the stock market has declined, which makes people spend less money in the economy Many people have stopped buying unnecessary items such as new cars and electronics. We are not yet out of a depression for several reasons. Unemployment rates, which are a distinct characteristic of a recession, are still very high. Employers are still not hiring unemployed peole to work at their businesses, which makes the unemployment rate even higher! Overall, I believe that the U.S. is still in a recession, but the economy is slightly recovering.
Waggoner, John. “Is today’s economic crisis another Great Depression?” USA Today [New York, NY]. Web. 12 May 2011. .
“Gross Domestic Product, 1st Quarter.” 2011 ed. April 28, 2011. Web. 12 May 2011. .
Branson, John. “What is a Recseeion? 4 Signs and Symptoms.” Web. 12 May 2011. .
thats what i thought too. 🙂
Recession, depression, or recovery
As a country, we are recovering, but as individuals we are in a recession. Even though statics show that we are in recovery, there are a lot of family’s still homeless still jobless. Our economy is rising but very slowly so therefore it’s almost a recovery but it’s not. See the statistics are looking at the average family and above average income what about the underprivileged? Why aren’t we putting them in our statistics? If we added all the homeless families and individuals you would see the difference how we still are in recession but I think it’s almost the end, we are almost to the recovery but it’s going to take time and even more money. It’s all a cycle. There is a lot of contradicting but you have to understand all of the facts not just know some. We can’t ignore the poverty we have to except it and help it. A recession may be a normal part of our job market but we can’t go on like this and make people suffer, I mean if we make our own citizens suffer who is next after them?
chmura, christina . “are we still in a recession?.” bacons rebellion (2011): n. pag. Web. 12 May 2011. .
harris, tom. “how recessions work.” a discovery company (1998-2011): n. pag. Web. 12 May 2011. .
“recession definition.” investopedia (2011): n. pag. Web. 12 May 2011. .
by Amber Terry
you put a lot of time and effort into this by looking up facts and showing your opinion. good job
I agree we are slowly recovering, but alot of people are in debt and poverty.
well said, i also agree.
i think that what you said is very smart and it makes sence. Good job, i like your ideas.
My opinion on whether we are on in a recession, depression, or recovery. Well what it thinks is that we are in a recession because, our economy is still running. In a depression the whole economy practically shuts down and starts over. And also when we had a depression a long time ago, there were a ton more people that were without jobs, and right now, a lot of people don’t have jobs but, nowhere near as many as when we had our depression
I think that the us is in a state of a recovery because my dad Tim lost his job as a construction worker back in ‘07 and he was one of the important guys and he was the one everybody came to get instructions and he was the boss of the worksite, but what happened next was about a year later as the economy got worse he got asked to get his job back but by then he was working at the libraries. So anyway I think the economy is recovering because I haven’t heard of much more people losing their jobs but a lot of my family that lost their jobs has had the opportunity to get a new one and they have took it and are now really successful. I also think so because of the article that Mr. Decker gave us I learned that it only talks about bad things happening and my mom always says that “best events are shortly after the worst possible event”. So that’s what I think.
i feel like in a way it is, but indivual progress shows nothing, but other than that, really great article
i totally agree no one is losing their jobs anymore!
In Colorado, the average price for gas is 3.746 and rising. Remember the times when gas was only 25 cents? In 1791, the US national debt was just 75 million. Today the US national debt rises that amount about once an hour. The U.S. national debt rises at an average of $3.8 billion a day. The US government now borrows $5 billion every business day. The U.S. government has to borrow 41 cents of every dollar that it currently spends. The question is, why can’t we stop it or at least slow it down? Everyone knows how deep in debt America is. Why don’t we do something? All of these questions, with no answers. I would say that we are in a recession. As long as the US national debt goes down as fast as it does, we are in a recession.
CITATIONS:
“18 Scary US Debt Facts | Jill Schlesinger – CBS MoneyWatch.com.” CBS MoneyWatch.com – Personal Finance Advice, Analysis and Financial Planning. Web. 12 May 2011. .
Area, Metro. “Average Prices By State – Colorado Gas Prices.” Colorado Gas Prices – Find Cheap Gas Prices in Colorado. Web. 12 May 2011. .
Waggoner, John. “Is Today’s Economic Crisis Another Great Depression? – USATODAY.com.” News, Travel, Weather, Entertainment, Sports, Technology, U.S. & World – USATODAY.com. Web. 12 May 2011. .
According to this article that I read 57% of Americans still think that were in a recession, but after reading the article by John Waggoner I believe that we are out of the recession but our economy still isn’t doing very well. Although we got out of the recession our economy is still not doing the best that it has ever ben but were not in a recession.
“57% of Americans Still Think That Were Still In a Recession.” Seeking alpha. Web. .
what you just described how our economy is not doing well described a recession!
i agree with venassa, i want to know about recission.
I think the economy is still in a recession because it isnt doing well.
http://www.reuters.com/article/2010/09/23/us-buffett-recession-idUSTRE68M2TZ20100923
http://baconsrebellion.com/2011/04/14/are-we-still-in-a-recession/
http://oliverdemille.com/2011/02/recession/
My opinion is that we are still in a recession. I think this because still so many people are either jobless or still being laid off. Also that gas and prices for things do keep going up. Most new jobs or jobs that are available are low paying jobs that wouldn’t be able to support a family. Most people that had jobs were jobs that were in the higher paying or medium paying range. Now they cannot go lower pay because they were barely surviving as it was. Also a lot of budget cuts are still happening. They cut budgets and do fewer things for the environment. They cut school budgets and still are trying to save money. The government wouldn’t still be making cuts if we weren’t in a recession.
vanessa, you are to smart! 🙂
i totaly agree, and its only going to get worse without more jobs, i guess you could say obama totally screwed us….
Ya you are right the government wouldn’t we making those cuts if we were not in a depression.
Recession? Depression? Recovery? Prosperity? Which one are we? Surely we can’t be in a prosperity, well thats what everyone thought in 2008, when we were actually at less than 5% un-employment rate and everyone was freaking out that we were heading for a depression. When economists were asked to predict what the maximum unmployment rate would be in the next 5 years, they said 8% and currently in 2011 we are at over 8.6% now what does this say for where we are currently at? Well it means we must be in a recession and not just freaking out, but are we heading for a depression? Well I feel that we are far from one, in the great depression, un-employment rates were as high as 20% and we arent even half way there yet, so don’t freak out, America is on a rough road, but we aren’t heading over the edge yet.
bls.org.Economy at a glance.web.NA.Ne.13 May, 2011.
I agree, we aren’t very close to a depression yet, so there’s no need to freak out.
I agree that we are in a recession and do not have to freak out that much because it is not as high as it was back in the great depression.
america is a rough road dakota 😉 we are in a recession. we need to fix things before we get closer to a depression even though we are far from one. we should start taking little steps now to prevent it.
I think that your country is in a recession after I read the article. I agree that we are not at a depression yet. If we were then everyone would be poor and no one would have jobs. We are not getting better because we are in big debt. If we can’t get out of debt then we will never be able to get out of the recession we are in now. People still are getting laid off and can’t find any jobs. This is part of the reason why we are in a recession. This is why we are in a recession.
Snyder, Michael. “20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover.” Business Insider (| Feb. 4, 2010): 1. Web. 13 May 2011. .
Very true. I don’t feel like we’re in a depression yet either because none of the stuff u have described had been happening yet. But we’re not exactly in recovery mode either, like some people on the news are saying. Things are getting a bit better, but not enough to be in recovery.
Great job on ur paragraph
Unemployment, budget cuts, and debt are all signs of economic slumps. But how big is the slump? My personal stance is that we are in a recession not a depression. In the Great Depression one fourth of Americans were unemployed, in 2011 the rate is just under 10%. The first article, “Unemployment in America”, the author defines a depression when more than one fifth of the population is out of work- we are currently at half of that. Another reason only for a recession is the rate of decline of the Stock Market is fairly steady, it didn’t drop off. To me a very large drop would be more a depression but since it is slowly and steadily dropping we are just loosing value in our money. No signs have been seen of even more dramatic loss of money points out another article author James Srodes. He says there is no more signs of failing banks, a great cause of slumping, so we are at or slightly above rock bottom, and I agree with him. Therefore, I believe we are only in a recession not a depression currently.
Petrov, Krassimir. “Current Economic Crisis Worse than the Great Depression.” The Market Oracle :: Financial Markets Analysis & Forecasting Free Website. Web. 13 May 2011. .
Srodes, James. “The Great Recession of 2011-2012.” The American Spectator. Feb. 2010. Web. 13 May 2011. .
Waggoner, John. “Is Today’s Economic Crisis Another Great Depression? – USATODAY.com.” News, Travel, Weather, Entertainment, Sports, Technology, U.S. & World – USATODAY.com. 04 Nov. 2008. Web. 13 May 2011. .
One common topic that is being talked about today is what kind of situation the United States Economy is in. in my opinion, and many others, the US is in a recession right now. From an article in The Telegraph, it states, “With the US in a recession, it’s really starting to look like 1932,” which was when the great depression was occurring. Other evidence that we are in a recession is that the US workforce dropped by 652,000 people. According to The Atlantic, there are 5 reasons why the US is in a recession, those reason are: Housing will have a horrible summer, consumers aren’t spending enough, unemployment is sticky, the stimulus is dry, and the European crisis. It is by these reasons that the US is in a recession.
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7871421/With-the-US-trapped-in-depression-this-really-is-starting-to-feel-like-1932.html
http://www.theatlantic.com/business/archive/2010/06/are-we-slipping-back-into-a-recession/57903/
http://www.usatoday.com/money/economy/2008-11-03-economy-depression-recession_N.htm
i agree that we are in recession. and you did a really good job. (:
A recession is where the economy slows down I don’t think we are in a depression but I do think we are pretty not to bad though but people are losing their jobs and I think if we could get them just even little jobs they will have to spend their money and that can keep us out of a great depression. That money would help us out of debt and it would get more people out of poverty. like they say you have to spend money to make money.
http://www.usatoday.com/money/economy/2008-11-03-economy-depression-recession_N.htm
A recession is a period of temporary economic decline when a trade and industrial activity are reduced, mostly identified by a fall in GDP in two successive quarters. In the article I read by John Waggoner. I believe that the United States was in a recession, went into depression and recovered. But is going back into a recession. In the article John says it’s possible but not likely. I think it’s likely because gas prices went up and more and more people are starting to lose their jobs. In this other article I read it says, “The level of unemployment will be high still and may get even higher in the next few months.” And “The head of the Federal Reserve mentioned strong negative factors as well. Business investments remain very small, and the commercial property market is weak too.” I agree.
http://www.marketoracle.co.uk/Article10510.html
http://www.usatoday.com/money/economy/2008-11-03-economy-depression-recession_N.htm
Kind of funny how the people on the news are saying that we are now in recovery mode, but it doesn’t look like that around here. Good job on ur article
My opinion on where we are as an economy is that were in a recession. What is a recession? It is a temporary depression in economic activity or prosperity. According to NBER’s definition, a recession occurs when a “significant decline in economic activity is spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.” The beginning of a recession is commonly referred to as a business-cycle “peak,” and the end of it is called a business-cycle “trough.” We aren’t at a high in our economy the high would be in prosperity. And our lows would be a depression. We are about in the middle and that’s a recession. On November 28, 2008, the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) announced that the United States has indeed has been in a recession since December 2007. I agree with what they think our economy status has been. But I don’t think it will get any better we may hit a low here in the next few years it won’t be a depression but it won’t be good and a lot of people will have a lot of hard times. As said in the article USA TODAY By John Waggoner The whole process could take years, Kiesel says. “It won’t be a depression, but it won’t feel good.” How bad is it? job loss so far in this recession to job losses in the 1990-1991 recession and the 2001 recession — showing how dramatic and unprecedented the job loss over the last 13 months has been. Over the last 13 months, our economy has lost a total of 3.6 million jobs and continuing job losses in the next few months are predicted. By comparison, we lost a total of 1.6 million jobs in the 1990-1991 recessions, before the economy began turning around and jobs began increasing; and we lost a total of 2.7 million jobs in the 2001 recession, before the economy began turning around and jobs began increasing. That wasn’t very long ago and now it’s just getting worse. We need to be prepared for when things are going to get worse. “If they do.”
Citations:
•http://www.usatoday.com/money/economy/2008-11-03-economy-depression-recession_N.htm
•http://liber8.stlouisfed.org/newsletter/2009/200902.pdf
•http://www.newsweek.com/2008/10/15/exactly-how-bad-is-it.html
•http://consumerist.com/2009/02/just-how-bad-is-this-recession-look-at-the-scary-scary-graph.html
From the lengthy article that we’ve read in class today, I believe that we are currently in a recession, mostly because our gross domestic product was still growing at a respectable 2.8% and fell its usual 0.3%. Meaning that our GDP rate is decreasing regularly and it’s still growing, not by much, but it’s still growing, showing that we aren’t failing in our economy yet. In a different article that I read, “Reasons for an Impending US Economic Recession” by Dr. Kurt Richebacher, it told me that the inflation adjusted hourly and weekly wages today are below where they were at the start of the recovery in November 2001, the median household income has fallen five years in a row since and was 4% lower in 2004 than in 1999, the total jobs since March 2001, which was the start of the recession, are up to 1.9% and private jobs at 1.5%, and finally the unemployment rate is low only because the several million people have given up looking for a job. To me, that doesn’t sound like prosperity, depression, or recovery; definitely a depression. And finally, from an article titled “The Real Reason For America’s Recession” there are over 14 reasons why, but all of them have to do with illegal aliens, or immigrants. We spend all our money taking care of them or trying to get them out of our country. Not sure if this is a good reason, but it is true.
So those are the reasons behind my logic for thinking we are in a recession.
Waggoner, John. “Is Today’s Economic Crisis Another Great Depression? – USATODAY.com.” News, Travel, Weather, Entertainment, Sports, Technology, U.S. & World – USATODAY.com. Web. 12 May 2011. .
“The Real Reason For America’s Recession.” Jeff Rense Program. 13 Mar. 2008. Web. 12 May 2011. .
http://www.dailyreckoning.co.uk/economic-forecasts/reasons-for-an-impending-us-economic-recession.aspx
Some people may think we are in depression, recovery, or even recession. Banks are having trouble having employment for millions of people and a ton of people are losing their jobs. Back in 2008 was when we started the great depression, and it has been going on for a few years now. America use to be at the top of the line and is now going down because of the great depression we have been having. People all over have been having bad employment, and losing not just their jobs but their homes. Everyone around is trying to get out of this great depression banks are just not doing the best of jobs anymore and everything is clasping all together so fast. People should be getting ready to expand the money supply. People are saying that then employment level will be starting to go up in the next few months. I believe we are not in depression but in recession.
http://www.usatoday.com/money/economy/2008-11-03-economy-depression-recession_N.htm
Don’t you wonder why gas prices and things are getting more expensive? I think that we are in a recession for many reasons. We are in a recession because everything around is getting expensive and the world is not a happy place to be in right now. Many people are out of jobs and are homeless because of foreclosure. Another reason why I think that we are in a recession is because things will not get better for a while, they will only get worse. The GDP is getting lower because our country is losing money. “World Bank, World Development Indicators-Google Public Data.” Google. Web. 12 May 2011. . The definition of recession is a business cycle contraction, a general slowdown in economic activity.[1][2] During recessions, many macroeconomic indicators vary in a similar way. Production, as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes, business profits, and inflation all fall during recessions, while bankruptcies and the unemployment rate rise. “Recession.” Wikipedia, the Free Encyclopedia. Web. 12 May 2011. . This is why I think we are in a recession.
i agree, all of your thoughts on why you think we are in a recession are valid.
i agree wesley. everything is so expensive right now and the GDP is falling and the job market is horrible.
Years 1929– 1939 were some of the worst years our country has ever experienced. Those years were called The Great Depression. The Great Depression left a mark on the world that remains today, nearly 80 years after it began. The great depression was a huge impact in our country! The great depression caused much family’s to go homeless, much business went out of business, and very few jobs were available. It also re-created our banking system, molded our securities laws, and left scars on the nation’s psyche that has faded only modestly with the decades. Finally after a rough ten years, our economy started to recover its self. People started getting jobs, many houses were being bought, stocks were doing great and we made it back up to Prosperity. Until about six months ago, out economy is starting to drop. Our economy is in the recession area. But then it went into recovery then back into the recession area. Our answer to get our country back to normal with many jobs is businesses. More business we open up the more jobs that open up. More jobs that open up makes people happy, and our economy running smoothly.
Waggoner, John. “Is Today’s Economic Crisis Another Great Depression? – USATODAY.com.” News, Travel, Weather, Entertainment, Sports, Technology, U.S. & World – USATODAY.com. Web. 13 May 2011. .
What do you think that we may be in, are we in a recession, depression, or recovery? My opinion is I think that we are in a recession. I think that we are in a recession because of the GDP, employment, and industrial products. GDP is a main thing that is going on in this recession. It is major because in the article that I read it said that in 2008 the GDP rose about 0.9 percent in the first quarter and then in the second quarter is rose 2.9 percent. Now unemployment rates went up also. Before the recession was declared there was a 1 percent increase in the unemployment rate, and then when the recession was declared the unemployment rate went up even more. Then last the industrial products is another main one. It is important because it is hard to go and go mining for coal, silver and gold because all the mines are collapsing and everything is just not going well for us to get the supplies that we need. Those are my reasons that I think that we are in a recession.
Waggoner, John. “Is Today’s Economic Crisis Another Great Depression? – USATODAY.com.” News, Travel, Weather, Entertainment, Sports, Technology, U.S. & World – USATODAY.com. Gannett Co. Inc, 3 Nov. 2008. Web. 13 May 2011. .
Moffatt, Mike. “Recession? Depression? What’s the Difference between a Recession and a Depression?” Economics at About.Com — Your Portal to the World of Economics. The New York Times Company. Web. 13 May 2011. .
Ramirez, Jessica. “Economy: Are We in a Recession or Depression? – Newsweek.” Newsweek – National News, World News, Business, Health, Technology, Entertainment, and More – Newsweek. Newsweek/Daily Beast Company LLC, 16 Oct. 2008. Web. 13 May 2011. .
How many times have you heard your parents complain about gas prices? This could be your first sign that our economy is enduring a recession. Not only do gas prices help explain this downturn, but other things do as well. Things such as people out of work and the cost of homes also show what our current economy is like. Though many people believe our economy is beginning recovery, I believe we are still consumed in a recession. Everyone knows nobody loves to drain money into those gas stations, but in reality, these prices can show a lot more than an empty wallet. According to Murad , Ali . “How gas prices effect our economy .” Ezine Articles n. page. Web. 12 May 2011. “These bouncing prices leaving the U.S. behind other countries as our growth rate is 2 – 2.5%. This could be the first sign that our economy is in a recession. ““A decline in real estate sales eventually leads to a decline in real estate prices. This then reduces the value of everyone’s homes, whether they are actively selling it or not.” Says LaAmadeost, Kimberly. “How Does Real Estate Affect the U.S. Economy?” About.com. Web. This means that our economy is able to affect not only the cost of real estate, but it also proves the costs is damaging to home buyers as well. People out of work can prove disastrous to both families and businesses. It’s also a great way to determine if we are in a recession. According to isidore, Chris . “7.9 million jobs lost – many forever.” CNNmoney.com (2010): n. pag. Web. 13 May 2011; The recession killed off 7.9 million jobs in 2010, and that number is growing in 2011. So overall, I believe we are in the midst of a recession, what do you think?
What stage of the business cycle is the United States in? There are different answers on this question base on many different reasons. If it were my opinion, I would have to say we are in a recession. The definition of a recession is when economic activity slows down. From seeing how the economy works based on what my parents spend their money on I think being in a recession is the only logical choice. In an article I was reading it said that millions of Americans still remain unemployed, when I see that it shows me that economic activity has slowed down in the since that all Americans may not have reliable jobs to support their selves and their families. In another article by John Harwood, he says “A survey shows that 76 percent of Americans believe that the US economy remains in recession.” Seeing that, that is 16 percent more than half, showing me that other people agree with the economy being in a recession also. We have been in this recession since about 2008, so I wonder when we will overcome and go to recovery, hopefully in the near future.
Money, Smart. “When Will the US Economy Recover from Recession? — MSN Money.” Commentary Index – MSN Money. Web. 12 May 2011. .
Harwood, John. “News Headlines.” CNBC Mobile Home. 10 May 2010. Web. 12 May 2011. .
Permalink. “US Economy Enters Double Dip Recession — RT.” RT. 26 Aug. 2010. Web. 12 May 2011. .
good job maggie! i think we are in a recession too.
If someone came up to you and asked what the USA’s economy is like today would you be able to answer? I don’t think that we are in a depression but were not recovering yet right now I think that we are in a recession witch is a period of temporary economic decline during which trade and industrial activity are reduced. The reason that I feel were not in a depression is because although we are experiencing money inflation and a loss of jobs the stock market is rising and in a depression it wouldn’t be.
Economy: Are We in a Recession or Depression? – Newsweek.” Newsweek – National News, World News, Business, Health, Technology, Entertainment, and More – Newsweek. Web. 13 May 2011. .
“Recession? Depression? What’s the Difference between a Recession and a Depression?” Economics at About.Com — Your Portal to the World of Economics. Web. 13 May 2011. .
Smith, Charles Hugh. “A Rising Stock Market Bails Out Everyone.” Business Insider. Web. 13 May 2011. .
i agree with you brandon. were not as bad off as we would be in a depression.
Have you cut down on spending? Or are your parents not making enough money? In my opinion I think that we are in a Depression! One of the many reasons I think this is because Gas Prices are insanely high! In an article on Homestead, and Michael Vass the great depression in 1930 there was a huge rise in gas prices and gold! And currently in Colorado gas prices are crazy, premium to unleaded gas is almost 4 dollars and diesel is almost 20 cents past 4 dollars. Another reason I think this country is in a depression is because in Americans have had to cut down throughout the country especially on their wants. People in big cities that had many bank accounts with money are also trying to pay their bills just so that they can hopefully live a better life and with the economy, says a Finance article. People and Cities in States are struggling with billions of dollars in shortfalls. Elected officials are increasingly selling public assets to cover their costs. So this is why I think our economy is in a depression!
Citations
“Gas Prices Gold Prices Economic Depression.” Survival Preparedness. Survival Homestead, 2007-2008. Web. 12 May 2011. .
Vass, Michael. “The 2011 Budget – a Battle of Words Meaning Nothing.” VASS Political Blog. 2005-2010. Web. 13 May 2011. .
Conlin, Michelle. “The Great Government Fire Sale Is on – Yahoo! Finance.” Yahoo! Finance – Business Finance, Stock Market, Quotes, News. AP News Report, 2011. Web. 13 May 2011. .
Have you ever heard of a recession? We’ll all it is a slowing down of the economy. We are in a recession right now if you have seen the economy. People are out of jobs, gas prices are going up and more people a less than middle class as far as their income. People are saying the recession in the U.S. is the great recession 2011- 2012. Why? Despite the self-congratulatory assurances from the White House, Congress, and part of Wall Street that we have been saved from a slide into a 1930s depression. How can we prevent a depression? We’ll first we need to get the economy back on its feet, second we need to start paying our debt from borrowing money from other countries like china, also we need to be more smart with our money and how we spend it. Once we get back on our feet we need to stay that way, stop borrowing money and use the money we have so we don’t go into a depression.
i think that you are right we need to stated paying off our debt to china
Money today is such a big deal, especially with all the loans and debts that some people have fallen into. Millions are suffering for the mistakes and many people think the United States is in either the recession, recovery or depression part of the economy cycle. As a country we are definitely recovering, especially after World War II. But Martin Feldstein, president of the Cambridge group, says “the situation is falling and is getting worse”. “We know the national economy is slowing, but the state’s economy seems to be stronger because of our tech sector,” said economist Alan Clayton-Matthews, a professor at the University of Massachusetts at Boston. There seems to be a lot of arguments that as a country, we are recovering from a recession. In some years, most industries are booming and UNEMPLOYMENT is low; in other years, most industries are operating well below capacity and unemployment is high. As individuals, we are in either recession or depression, depending on the living situation. In the United States, recession is usually defined as two consecutive quarters of decline in the GDP. By contrast, US GDP declined at most 5% in the severe recession of 1973-75. So are we recovering from the Great Depression? Or are we falling back into another one?
http://www.boston.com/business/articles/2008/03/15/recession_is_here_economist_declares/
http://www.econlib.org/library/Enc/BusinessCycles.html
http://www.solutionmatrix.com/business-cycle.html
I think you can really tell how the economy is doing based on the GDP.
Is the economic state going up or down? Are gas price going up? What do these two things have in common? Both of these have to do with a recession. In this I well show and explain how we are in a recession. Frist, the chief economist said “It’s a recession” to prove this the unemployment rate was 6.1% in September, and gdp was still growing. Now there are 17,000 jobs gone, in the month of January according to John W. Schoen the stock market did a complete tail spin. To me this sounds like the stock market is started to go down, and more and more jobs are being lost.in the month of May 2008, the economic stated to slow down, and according to the book in a recession the economic states to slow down. So it seems to me we might be in a recession right know. In the entire article I read they all said that jobs where being lost. Witch point out that we are in a recession right knows.
Morici, Peter. “Are We In A Recession? – Forbes.com.” Information for the World’s Business Leaders – Forbes.com. 04 Aug. 2008. Web. 13 May 2011. .
Waggoner, John. “Is Today’s Economic Crisis Another Great Depression? – USATODAY.com.” News, Travel, Weather, Entertainment, Sports, Technology, U.S. & World – USATODAY.com. 11 Apr. 2008. Web. 13 May 2011. .
Schoen, John W. “Are We Already in a Recession? – Business – Answer Desk – Msnbc.com.” Msnbc.com – Breaking News, Science and Tech News, World News, US News, Local News- Msnbc.com. 26 Mar. 2008. Web. 13 May 2011. .
Recovery
Do you ever wonder who the major player in our economics? Although we can’t blame one particular person for it we can debate who plays a major role in our stock market. We both contribute and don’t in the condition of the economy. One example is where we shop and what we invest our money in. And we also don’t control it. Another example of how little we play in the overall condition of it is oil. Every day Americans use 1.2 million barrels of crude oil a day. So when there wars where we get our oil prices go up. A good example is the problems going on in northern Africa and Egypt. When prices go up we have less to spend on other items that we do daily. If you were to ask many Americans they would say we are in a recession, but I would say we are in a recovery. I say this mainly because of the fact that the government is trying to improve the overall economy with budget cuts and new bills. Although we can debate all day about the condition of the economy we really don’t know until it affects us at home.
Sources:
http://abcnews.go.com/Business/strangling-middle-class-america/story?id=11325933
http://www.ehow.com/about_6529713_oil-affects-economy.html
http://investmentwatchblog.com/balance-the-economy-in-the-same-way-that-government-has-a-balance-of-power-with-three-branches/
Whenever I think of the word depression I always think of the movie Cinderella man, because in the story they are really being attacked by the depression, so bad that they could barely feed their children. Whenever I hear the word recession I think of Oboma, for some reason, possibly because he is the one that is directing the government, which are the people who are keeping our tax money for themselves. This brings me to the point that I agree with john Waggoner’s theory, I do believe that we are in a recession. If I didn’t make it clear I also believe that we aren’t the ones who caused it to happen to our country. I believe that it had to do with our government system somehow. Because, they are the ones who have control of the money that comes from our taxes. I also believe that we are close to being done with the recession but we aren’t necessarily because we are still trying to play catch up from when 2009 hit, and it won’t be until we are done catching up when the recession is over.
i agree with you that we are in a recession, but i don’t think it is all our govenrments fault.
You know that old saying there is a light at the end of the tunnel but it may be daylight or train. I believe this is the best way to describe our economy right now. I think this train that’s going to hit is will be another depression. So if you follow the business cycle that puts us currently in a recession. It seems that the economy has a cycle of a depression every 20 years one in the 30’s 50’s 70’s 90’s and now. If not the cycle just pay attention to the facts. The unemployment rate is around 10% but that doesn’t account for those who have stopped looking for work or underemployed factor those in and it could be as high as 25%. Plus on top of that there is a debt in this country that exceeds its G.D.P. If not a depression it sure isn’t good.
Good lines robert and i respect you and imma let you finish but the 20’s were the best times for a recession
It is widely known that the American economy has been failing to support its people, but whether this economy is recovering or continuing recede is still being debated. I argue that the recession is still in effect; it may be slowing down but if nothing is changed depression will be upon everyone. The definition of recession is, when businesses produce less, and unemployment rate rises. By definition our economy is in a recession, some businesses may be recovering but most are still slowing, and until the majority of them begin their recovery our economy will stay the same. At the moment the US government is taking little action in alternatives to bail outs of large companies when small business could potentially lead to recovery. If the government created some sort of funding for more small business, more jobs would be created, and if enough of these jobs are created the nearly dead economy could be revived. Government needs to start some sort of funding for small business owners and those Americans who wish to start small businesses before the recession becomes a depression.
Works Cited
Gandel, Cathie. “If Inflation’s Low, Why Are Prices Rising? – FoxBusiness.com.” Home – FoxBusiness.com. Web. 13 May 2011. .
“Recession Is Here, Economist Declares – The Boston Globe.” Boston.com – Boston, MA News, Breaking News, Sports, Video. Web. 13 May 2011. .
Waggoner, John. “Is Today’s Economic Crisis Another Great Depression? – USATODAY.com.” News, Travel, Weather, Entertainment, Sports, Technology, U.S. & World – USATODAY.com. Web. 13 May 2011. .
i some what agree with your post sam!(:
Do you know where the U.S. stands economic wise? I believe we are in the recession stage. Recession means that the economic activity is slowing down but is not to a depression point yet. Our economy is mostly based on consumers and services and the rate of people spending money and buying services has absolutely slowed since past years, people also won’t be spending until they feel more confident in their economy. And for consumers to feel more confident, Kiesel says that corporations and consumers will need to pay their debts. “We had companies with weak balance sheets selling to consumers who were leveraged up, too. The whole process could take years, it won’t be a depression, but it won’t feel good,” Kiesel says.
In the first quarter of this year the economic growth slowed to 1.8 percent. But food and gasoline prices skyrocketed, which reduced the amount that consumers spent.
For example, the price of oil now is $107 per barrel and $3.51 per gallon; $80 per barrel was the cost last March and per gallon cost $2.79 per gallon. When I went to California this spring break, gas really was about $4 a gallon!
So our economy is definitely having slowing down but we are not to a depression stage yet.
Waggoner, John. “Is Today’s Economic Crisis Another Great Depression? – USATODAY.com.” News, Travel, Weather, Entertainment, Sports, Technology, U.S. & World – USATODAY.com. Web. 13 May 2011. .
Morgan, David. “Most Americans Say U.S. in Recession despite Data: Poll| Reuters.” Business & Financial News, Breaking US & International News | Reuters.com. 28 Apr. 2011. Web. 13 May 2011. .
“Oil Price Shocks and the Recession of 2011?” Reason Magazine. Web. 16 May 2011. .
I believe that were in a Recovery, Simply because were coming out of a recession that once was a depression. Recovery means that the regaining of or possibility of regaining something lost or taken away. 80 years ago we went through the great depression… It re-created our banking systems that we now have today and molded up our security laws. During the depression even Bonnie and Clyde because what they call folk heroes! Bankers became very unpopular! But that was 80 years ago! And since then we’ve went through the recession… which means the economic state is slowing down, but it’s nothing to worry about! Now were in the recovery stage and that’s where were building back up to the top!
Recovery
The U.S. economy is a big subject in today’s news. I feel that our economy is in recovery mode. Our economy has been in a recession for a few years now. A feel there are three reasons why our economy is in recovery mode. First, temporary jobs are on the rise. According to Gilliam, temp jobs make up at least 17,000 of the new jobs added. Temporary employment can be a win-win solution for employers and employees. Second, full-time jobs are coming back in multiple industries and across multiple levels. Gilliam claims that manufacturing and industrial jobs are always the first to recover in a recession and their recovery helps fuel growth for other jobs. Third, the research discovered that 16 per cent of businesses plan to implement recruitment processes over the next six months, while 17 per cent expect other organizations to begin hiring. Sara Johnson, spokeswomen for the analysis group IHS Global Insight, suggested that this provides “fresh evidence that the US economy’s recession is abating”
Sources:
http://jobs.aol.com/articles/2011/04/06/three-signs-the-economy-is-in-recovery-mode/
http://www.americanthinker.com/2011/01/forget_about_economic_recovery.html
http://www.randstad.com/the-world-of-work/us-economy-shows-signs-of- recovery?c=3879
I agree with you kelson. There has been a pretty large increase in a lot of jobs that will help out a lot. we are raising but very slowly.
Are you making big investments because you feel that the economy is going strong? Truth is, not very many people feel this way. I believe that the U.S. economy is in a recession. A recession is where the economy is going down, but isn’t quite as bad as a depression. During the great depression unemployment rates were at an unbelievable25% high. Currently the unemployment rate is only at 9%, so we are doing a lot better than we would be in an actual depression. Also, our nation’s gross domestic product is still growing at a 2.8% rate. If we were in a depression that number should be declining not rising. According to the New York Times magazine American companies sold more goods and services overseas then they have in over two decades. The reason this doesn’t put us into a recovery is because a jump in oil prices pushed the national deficit higher. “We’re a long way from the D-word,” says David Wyss, chief economist for Standard & Poor’s. “It’s a recession.”
“U.S. Exports Rose in March, but Trade Gap Still Widened.” The New York Times 11 May 2011. Web.
“Economy of the United States.” Wikipedia. 12 May 2011. Web. .
Waggoner, John. “Economy-depression-recession.” USA TODAY. Web.
.
wow kaley i didnt know how drastic each part of the economic cycle was.
Are you making big investments because you feel that the economy is going strong? Truth is, not very many people feel this way. I believe that the U.S. economy is in a recession. A recession is where the economy is going down, but isn’t quite as bad as a depression. During the great depression unemployment rates were at an unbelievable25% high. Currently the unemployment rate is only at 9%, so we are doing a lot better than we would be in an actual depression. Also, our nation’s gross domestic product is still growing at a 2.8% rate. If we were in a depression that number should be declining not rising. According to the New York Times magazine American companies sold more goods and services overseas then they have in over two decades. The reason this doesn’t put us into a recovery is because a jump in oil prices pushed the national deficit higher. “We’re a long way from the D-word,” says David Wyss, chief economist for Standard & Poor’s. “It’s a recession.”
“U.S. Exports Rose in March, but Trade Gap Still Widened.” The New York Times 11 May 2011. Web.
“Economy of the United States.” Wikipedia. 12 May 2011. Web. .
Waggoner, John. “Economy-depression-recession.” USA TODAY. Web. .
The Economy Situation
There are a lot of people that have different views on this subject. But most of the exports are saying the economy is recovering. One thing that helps support this is the housing market. My dad and I talk the other day to my dad’s friend who is a relator. He said that the housing market is showing a 7% increase so far. That’s a huge deal. He also said that this is one of his best years for selling houses. Another sign that the economy is recovering is that people are starting to spend more. In a CNN article they stated that people are starting to spend little by little more than they did in the past couple years. This will help create more jobs, which will eventually lead to more money in people’s pockets and the government’s pocket. The last sign is that manufacturing jobs and industrial jobs are on the rise. Manufacturing jobs and industrial jobs account for a lot or jobs in the U.S. If those jobs increase, that will cut the unemployment rate by a ton. Those are all the signs that the economy is raising slowly.
Sources: http://articles.cnn.com/2010-04-04/politics/us.economy_1_unemployment-rate-economic-growth-council-of-economic-advisers?_s=PM:POLITICS
http://jobs.aol.com/articles/2011/04/06/three-signs-the-economy-is-in-recovery-mode/
My dad’s friend who’s a relator, Dave Kimbro
i agree taylor. i like how you think (optamisticly). The housing market is looking better. also be are spending more right now than in the past.
We are still in a recovery from a recession. The recession in 2008 was on its way to a depression quickly with the stock market crash, frequent bank bailouts, and the high rate of home foreclosures. But we have been recovering slowly and have been going back to prosperity slowly without the depression. We have had dips in the cycle in the 30’s, 50’s, 80’s, and 2000’s. The 1930s was called the great depression because of how low the market sank in a depression. The great depression created the fed because it made the government realize that we need aback up plan for the banks. Foreclosures and loss of jobs during the 30’s changed the way the economy is today because of how bad it hit us. Our recession now is formed by the past recessions and depressions in history.
http://www.usatoday.com/money/economy/2008-11-03-economy-depression-recession_N.htm
http://www.chicagofed.org/webpages/publications/speeches/2010/06_08_UCC_speech.cfm
I think just the opposite of you. I think we were just in posperity and now we are in a recession but good work
Do I think our economy is still in bad shape? Yes I do, but do I still think the economy is in a recession? No I do not, the United States economy is on the road to recovery. The ECRI Weekly Leading Index says we have had some rough down falls but this just maybe turning around. The United States Growth Rate has been increasing little by little each week since October 15 of 2010. Casey from Latest Market Analyst says that our economy is slowly increasing and showing continuous growth over the quarters. I can show you many different opinions on our economy, but I don’t want to do that! The United States economy is one of the largest economy’s in the world even when we were in the recession. So I don’t understand why everyone makes such a big deal about it? As the Depression article says, we should spend during our depression/recession and save when our economy is good! Our economy is just on a bumpy road and has hit some rough patches but eventually it will all smooth out and grow and become good again.
Have you noticed that your family has cut back on buying luxurious items in the last few years? That is because the United States is in a recession. Recession is defined as when economic activity slows down. Before October 5, 2008 Americans finances were doing quite well and we were doing great. In Glencoe’s Introduction to Business it could have been classified as prosperity which recessions normally follow. Further evidence that the United States is in a recession is the plan fact the people were/are being laid off. Take Chicago for example. Some factory workers refused to go home because they did not want to lose their pay. As you can tell from this article, and probably with some personal experience, the United State’s economy has been in a slump. All of the things that have happened during past few years meet the definition that the United States is in a recession.
“Laid Off Workers Refuse To Leave Chicago Factory.” (2008): 2. Web. 13 May 2011.
“2008 Stock Market Crash Analysis For Testing Times.” Oct. 2008: 2. Web. 17 May 2011. .
Brown and Clow, Betty and John. “Recession.” Introduction to Business. New York: McGrawHill, 2008. Print.
In my view, I think we are in a depression, I think this because our economy is horrible and our national debt is going up tremendously. We owe trillions of dollars to other countries and there is no way we can pay them back now. In our economy the rich get richer and the poor get poorer. People can’t pay housing bills so they lose their home. People are taking out loans that they can’t pay back. And also the unemployment rate is going up. When people can’t find jobs they can’t support themselves or their family if they have one. The war in Iraq costs billions a year and is a big part of our debt.
These are the reasons i think we are i a depression.
Baran, Hugh. “Depression, Not Recession, Looming in America | Yale Daily News.” Yale Daily News – The Nation’s Oldest College Daily. Web. 17 May 2011. .