I know you are probably just repeating what you heard on tv, but you might want to look up the definition of recession. Other industries are making plenty of money. Don't be fooled by the talking heads on tv who just want to scare you. The economy is slowing, but we aren't dying. Some industries continue to do extremely well.
I never just repeat what I hear on TV, I am in the financial industry I live it everyday, I take offense to the notion that I am some kind of idiot that just believes whats on TV. Its a recession whether you want to believe it or not. And the definition of a recession doesnt have anything with economically dying, thats a depression if we are drawing similiarities. but its probably your conservative point of view, because it isnt effecting you yet. But even your president realizes we are headed for a lot of trouble.
I dont have to define it for you. We are in the beginning of one. Thats what I see, thats what I believe. Anytime consumers "recess" their spending from the consumer market, the annual GDP % falls, and unemployment goes up you have a recipe for a recession. Now since you are so smart or whatever you may think and you like to talk down to people. Id like to see you refute those facts that I just posted, because all 3 of those just happened.
We have a definition for recession in this country. It is two quarters of negative GDP growth. Now, you can go make up whatever definition you want to fit your political agenda, but it doesn't make it true. I'm curious, did you believe we were in a recession in 2000?
no it fits your political agenda, which isnt much to speak about. But it doesnt matter, you feel you are right and I feel that I am right as well end of discussion.
Scenario's one or two are much more likely that scenario three. Nothing wrong with making 'too much' money as long as it's done legally. It doesn't take a rocket scientist to see that there could be some inproprieties with a company making $40 billion in one quarter. Scenario three is another part the problem not even touched on yet. Too many people either don't care or believe big oil is doing nothing wrong, so there's not much incentive for them to change. I agree. It is easier to blame it on the oil industry, but it's only because of the disgusting profits those guys are making. That's what has many of us so upset. Cheap oil is available. The proof is in the ungodly amount of money they're making. Pass just a fraction of that on to consumers and gas wouldn't be $3 a gallon. You still make your billions and everybody's happy. But their greed is compelling them hoard profits and not pass on savings to the consumer.
