who killed the economy?!?!

[Flipx99 5,000+ posts]

RangerMan....not a diss, but you know there is an organization that makes the official call on whether or not we are in a recession;

http://en.wikipedia.org/wiki/National_Bureau_of_Economic_Research

until they say it, we are not.

 

[Banana Balls 5,000+ posts]

That would be called a structural shift....

Well thank you for providing the proper terminology. Now that we have it, who's to say that isn't what it is? Are they giving out crystal balls now and I didn't get the memo?

Warren Buffet is an idiot? He made $$$$$$$$$$$$$$$$$$$$$$$$$ by putting all eggs in one basket.

Of course not. He's an anomaly. He doesn't represent any majority. not the rich, poor, or anywhere in between.

P.S. Warren Buffet does not think too highly of your desired professional field. //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

 

[Banana Balls 5,000+ posts]

Or what if your company comprised your 401k of many shares of the companies own stock if you didn't go in and adjust where the money went....thats pretty shitty

No, that's pretty stupid on your part for not taking control of your investment. //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[Flipx99 5,000+ posts]

Well thank you for providing the proper terminology. Now that we have it, who's to say that isn't what it is? Are they giving out crystal balls now and I didn't get the memo?
P.S. Warren Buffet does not think too highly of your desired professional field. //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

See the poast above yours.

What is my desired professional field, options trader? He does it too.. //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

 

[RangerMan Premium Member]

I know. Gas is way more expensive over there than it is here.


NOW I understand why you take such offense and don't even want to entertain even looking at the grass on the other side.

I just wanted a 'why' and you don't want to give it to me so I concede and will stick to conversing about television with you. //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

I understand your points, I just find them one dimensional. What I am trying to explain to you is that the idea of a recession is based on what has already happened, people who have already invested, and how much they have lost.

What people are doing now is what is building towards a recovery. By you investing in housing, you are building, but your specific statistic will not account for anything until you actually get a return on your investment. Meaning...when you start to make money on the houses you have bought, that reflects on the recovery period. But right now, even though you feel like you are making a good investment, which you probably are, you are not making money on those houses at this very moment; during the recession. Lets say one of the houses you bought was 200,000. Okay, you cannot sell that house today for anything more than you bought it for, more than likely. But 7-8 years from now, it is worth 350k. The return you got on that house, minus the inflation rate, is a reflection of the growth period.

 

[RangerMan Premium Member]

RangerMan....not a diss, but you know there is an organization that makes the official call on whether or not we are in a recession;
http://en.wikipedia.org/wiki/National_Bureau_of_Economic_Research

until they say it, we are not.

I posted on this earlier in the thread.

You cannot officially say that this is a recession until you are well in to that period or in fact the corner has already been turned towards the growth period.

NBER has always been, and always will be slow to the punch.

I can find hundreds of other economists and CEOs that disagree.

Also, many NBER economists do believe this is a recession.

 

[Flipx99 5,000+ posts]

I posted on this earlier in the thread.
You cannot officially say that this is a recession until you are well in to that period or in fact the corner has already been turned towards the growth period.

I was just answering the question on who makes the call. I am well aware of that fact.

 

[Flipx99 5,000+ posts]

I posted on this earlier in the thread.
You cannot officially say that this is a recession until you are well in to that period or in fact the corner has already been turned towards the growth period.

NBER has always been, and always will be slow to the punch.

I can find hundreds of other economists and CEOs that disagree.

It is of no matter. That is who makes the call.

 

[Flipx99 5,000+ posts]

I would like to know how these economists and CEOs get accurate GDP data before the NBER and the Fed Reserve...I mean they only revise GDP five-ten times per decade....

 

[RangerMan Premium Member]

I would like to know how these economists and CEOs get accurate GDP data before the NBER and the Fed Reserve...I mean they only revise GDP five-ten times per decade....

The GDP is only one indicator in the big picture.

CEOs know...they experience it.

Economist know...they study it.

 

[RangerMan Premium Member]

I understand that NBER makes the official call, but most Americans don't need the official word. Its easy to see by whats going on.

If this is not a recession period, what is it?

 

[Flipx99 5,000+ posts]

The GDP is only one indicator in the big picture.
CEOs know...they experience it.

Economist know...they study it.

But isn't that how we define a recession? Or are we changing that too?

 

[duece212 5,000+ posts]

We get too hung up on definitions, maybe somebody should find a different word for the sake of conversation

 

[mcsoul 10+ year member]

Rcession = 2 quarters consecutive of negative growth (lower than 0% growth)

See European Socialist economies for further details.

 

[Banana Balls 5,000+ posts]

What is my desired professional field, options trader? He does it too.. //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

Well it might be kind of a stretch... You're my Mr. Finance, and I've seen Buffet knock on financial institutions a number of times. He thinks they are a waste of air.

I understand your points, I just find them one dimensional. What I am trying to explain to you is that the idea of a recession is based on what has already happened, people who have already invested, and how much they have lost.

Yes, I'm being one dimensional on purpose. I'm being the opposite dimension that you are representing so I can understand. Sure it would be all peachy and keen if I just swallowed your comments as unbiased facts, but that would make for a very brief uneducated conversation.

What people are doing now is what is building towards a recovery. By you investing in housing, you are building, but your specific statistic will not account for anything until you actually get a return on your investment. Meaning...when you start to make money on the houses you have bought, that reflects on the recovery period. But right now, even though you feel like you are making a good investment, which you probably are, you are not making money on those houses at this very moment; during the recession.

Yes, but the lenders and the owners could very well be. Well, maybe the owners, but definitely the lenders, right?

Lets say one of the houses you bought was 200,000. Okay, you cannot sell that house today for anything more than you bought it for, more than likely. But 7-8 years from now, it is worth 350k. The return you got on that house, minus the inflation rate, is a reflection of the growth period.

I see that, but by that explanation that means we're always in a recession because everyone is always buying 'houses'.

I would like to know how these economists and CEOs get accurate GDP data before the NBER and the Fed Reserve...I mean they only revise GDP five-ten times per decade....

They don't need it. They get paid for their wild accusations. Wild accusations are much harder to promote with fact.