Why Half Of America Incorrectly Thinks We're In A Recession

[dmcowen674]

8-6-2014

http://www.huffingtonpost.com/2014/...sion_n_5654705.html?ncid=txtlnkusaolp00000592

Why Half Of America Incorrectly Thinks We're In A Recession



The Great Recession ended more than five years ago, but good luck trying to convince many Americans of that.

Nearly half of all Americans, 49 percent, think the recession never ended, according to a new NBC/Wall Street Journal poll.

In fact, many polls have consistently shown that most Americans have long thought the recession, which officially ended in June 2009, is still ongoing.

The new NBC/WSJ poll has a chart that helps illustrate why this might be: Despite record levels of hiring and record highs in the stock market, huge numbers of people say they're still feeling the recession's effects.

As Josh Barro noted in March, this attitude is mainly a result of wages that continue to be flat and terrible, even as the rest of the economy is improving.

 

[zinfamous]

in! whoooo! combo breaker!

 

[Brainonska511]

Wages being flat for many people isn't a result of the recession. Wages have been flat for a good portion of the population quite some time.

 

[dmcowen674]

I take issue with the article writer.

He admits wages are "flat and terrible" yet how can half be wrong that we're still in recession?

 

[fstime]

The recession never ended. All we did was create another bubble.

It is all artificial growth. The apple is rotten on the inside.

 

[Engineer]

Wages being flat for many people isn't a result of the recession. Wages have been flat for a good portion of the population quite some time.

Last time I saw, the US has been flat or declining in real wages for nearly 15 years. Going on the 2 decade mark with little relief in site.

Ship our your good paying jobs for middle class people and this is what you get.

 

[cabri]

Wages are stagnant;
Good jobs while they may be listed are coming with either absurd qualifications or low wages - upward mobility is near a standstill.
Companies are not expanding can creating new jobs.

While we may be officially out of the recession per the bean counters; there is very little recovery in the middle class arena.


Why Half Of America Incorrectly Thinks We're In A Recession
If there is insecurity and loss of purchasing half are correct.

It is the sheep that believe what is being told vs looking without the rose glasses at the real world.

 

[Matt1970]

That's a first, two in before the McOwned follow-up.

 

[Matt1970]

Last time I saw, the US has been flat or declining in real wages for nearly 15 years. Going on the 2 decade mark with little relief in site.

Ship our your good paying jobs for middle class people and this is what you get.

Double that.

 

[GoPackGo]

Wages are stagnant;
Good jobs while they may be listed are coming with either absurd qualifications or low wages - upward mobility is near a standstill.
Companies are not expanding can creating new jobs.

While we may be officially out of the recession per the bean counters; there is very little recovery in the middle class arena.


Why Half Of America Incorrectly Thinks We're In A Recession
If there is insecurity and loss of purchasing half are correct.

It is the sheep that believe what is being told vs looking without the rose glasses at the real world.

Not only are wages stagnant - day to day cost of living has skyrocketed. Food, Gas and Services are really out of line.

 

[Stewox]

Recession term is used by the general public for "bad economy", they don't really know how the financial system works.

So before anyone triest to argue the techincal definition of "recession", those are still faux (irrelevant) numbers, manipulated, inflated, the practical situation is always getting worse since 1913, the dollar is being devauled, poverty is rising, etc.

So, is the US in a official recession or not, doesn't really matter, thing's aren't getting any better, infact, a new recession is just a matter of time, as it always is, as it *always* was.

“The new law will create inflation whenever the trusts want inflation. From now on depressions will be scientifically created.” (Congressman Charles A. Lindbergh, after the passage of the Federal Reserve act in 1913.)

“Under the Federal Reserve Act, panics are scientifically created. The present panic is the first scientific one, worked out as we figure a mathematical equation.” (Congressman Charles A. Lindbergh, The Economic Pinch, 1921.)

"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States" — Sen. Barry Goldwater (Rep. AR)

 

[rudder]

Because there are still a lot of unemployed/underemployed people. Not to mention the majority of new jobs are low wage ones.

To these people it feels like a recession even if technically we are not in one.

 

[MongGrel]

Last time I saw, the US has been flat or declining in real wages for nearly 15 years. Going on the 2 decade mark with little relief in site.

Ship our your good paying jobs for middle class people and this is what you get.

This more or less again.

 

[Stewox]

Because there are still a lot of unemployed/underemployed people.

Why stop there, keep asking the question on your answers.


Why unemployment?

Because, outsourcing.

Why outsourcing?

Because transfer of power.

Why transfer or power?

Because, somebody's doing it on purpose http://youtu.be/YQMvnRVt1pE?t=2m50s

....

“Paper money eventually returns to its intrinsic value ---- zero”. Voltaire (1694-1778)

 

[zinfamous]

Because there are still a lot of unemployed/underemployed people. Not to mention the majority of new jobs are low wage ones.

To these people it feels like a recession even if technically we are not in one.

aye.

the economy is the bees knees right now....if you're on Wall Street.

 

[Jaskalas]

aye.

the economy is the bees knees right now....if you're on Wall Street.

Good thing we bailed them out to "save" the economy.

I would have taken those trillions and paid off everyone's house.

 

[cubby1223]

Why Half Of America Incorrectly Thinks We're In A Recession

The Great Recession ended more than five years ago, but good luck trying to convince many Americans of that.

Because Americans think a recession simply means a bad economy, versus the technical definition of two straight quarters of a reduction in GDP.

Didn't need a whole news article or a whole thread dedicated to this subject.

 

[sao123]

Because Americans think a recession simply means a bad economy, versus the technical definition of two straight quarters of a reduction in GDP.

Didn't need a whole news article or a whole thread dedicated to this subject.

GDP is not a true indicator of the economy. The CPI is a much stronger indicator of how the economy of the nation is working.
Its time for Janet Yellen and her thugs to admit the weak dollar policy is a failure, and bring us back to real prosperity, rather than just the illusion of prosperity.

 

[Knowing]

“Paper money eventually returns to its intrinsic value ---- zero”. Voltaire (1694-1778)

Jokes on Voltaire, our currency is made out of cotton.

 

[alcoholbob]

How can the recession have ended and the people be incorrect about it if the percentage Americans of working age with a job is at an all-time low?

 

[Engineer]

How can the recession have ended and the people be incorrect about it if the percentage Americans of working age with a job is at an all-time low?

Not yet....but getting there.

 

[zanejohnson]

everyone here needs to watch Zeitgest 2:addendum

 

[Cozarkian]

Whether or not we are still in a recession is an entirely different question than whether the last recession is still impacting people. The poll discusses the latter question but the headline erroneously claims it answers the former. On the topic of the latter question, here is an interesting article: http://money.cnn.com/infographic/economy/why-you-dont-feel-recovered/

 

[alcoholbob]

Not yet....but getting there.

Usually when they compare labor force participation rates they only go back to around 1978 because generally we want to compare apples to apples jobs.

If you go back to the 1950s technically "women" weren't really in the workforce per se, as the majority of women working were young single women working temporary or part-time jobs, one of the most common jobs was "live-in nanny" like in the Brady Bunch. Men earned enough to support a family back then and there was no need for women to be co-bread earners. You can see while overall LFP may have been 59% in 1950, about 88% of men of working age were employed.

Edit: didn't realize blogspot images were banned here...

 

[Slew Foot]

Its times like this when I remember my old sig


Internet bubble-->Real Estate bubble-->Stock Market Bubble--->Government Bubble--->Hyperinflation------>Revolution