Newsweek‘s latest issue declares “The Recession Is Over”.
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Did anyone tell the Ohio,Florida, California, and espicially Michigan? I guess big profits at Goldman Sachs means happy days are here again.
Is it me….or is Newsweek becoming The National Enquirer for a new generation.
And this is why Newsweek is going bankrupt.
And if you can’t trust Obamaweek, who can you trust?
“Johnny Hemp Seed” – coming soon to a theatre near you, this is not your grandmother’s Reefer Madness, but a whole new genre of psycho-acoustic entrainment entertainment in 3D…!
That is the biggest load of fertilizer I’ve heard in a long time. The recession is going to go on for years. It took us years to get here, it will take us years to get out. There are no easy solutions.
no it isn’t. They need to get their heads out of their asses.
These types of reports refer ONLY to our Wall Street overlords. The real issues of massive job losses, abysmal health care, and declining standards of living will remain for a LONG time…until fundamental changes are made.
Tell that to the people who are losing their jobs each week since last year.
That would be lovely. But Hollywood has jumped from good old exclusivity into just being… too narrow for its own good. There’s simply no room within the current system for opportunity or growth at this time, regardless of how the outside economy is doing.
Until there is job creation and the unemployment rate goes down, the recession is long from over. The stimulus is one thing but the problem is all these people who are out of work are not able to get back into the workforce. Companies are downsizing and now operating within that structure (few employees doing the job that used to be done by more employees.). So all of these people who have lost their jobs are NOT only not paying income tax (which would help to fuel the economy and stimulate spending) they are also COLLECTING unemployment. So our debt gets greater. I’m a democrat but I think we all need to see our government doing something to get people back to work. It’s irresponsible for Newsweek to report that the “recession is over.” Just because the dow ticks up or the financial industry reports gains does not mean realistically we are anywhere near this thing being over. California’s unemployment rate over 10%! Michigan’s over 15%!! No federal or state income tax being collected for those people. This is a disaster that is not being fixed by “road works projects” that this stimulus package is created.
Did any of you read the article? Sure doesn’t sound like it.
Cancel My subscription.
Ostentatious vulgar displays of wealth are now allowed around TinselTown again.
This stuff was getting dusty hidden away in my spare pool house.
Newsweek may be technically right but there might not be any real change (i.e. pickup) in business for a while. A recession is two or more quarters of negative growth – once growth goes even slightly positive, the recession is “over”. That being said, the US economy runs smoothly at ~ 2-3% growth a year — anything below that, particularly lower than 1%, can most definitely taste like a recession even if it isn’t technically one.
Newsweek isn’t wrong, or politicized (though they may be, who knows), they’re just focusing on the definition of the term. The economy is still hugely unbalanced, and the next bubble to pop will be our foreign debt bubble – that is going to be very very painful.
Yipee! I’m gonna go buy me a big, expensive house, a new car, new furniture, a swimming pool and lots of new toys.
A subscription to Newsweek? Probably not.
What the hell do I care? I get food stamps, free health care, my crappy mortgage fixed by the bank’s hand-out, I’m trading my clunker in for cash, and I get to send my pregnant wife back to college for free — all thanks to dopes like you! Keep the recession going!
Hollywood’s way out in front of this thanks to the last Spec Market Scorecard:
The first paragraph cites Daniel Gross’ article, “The Recession is Over! (Technically.),” on Slate.com (http://www.slate.com/id/2222742?wpisrc=newsletter).
The recession is over… just in time for the depression to officially begin.
Two thirds of the entertainment industry is no longer needed as global demand is gone and all that available capital that propped up the industry for decades no longer exists… let the delusion continue.
Newsweek’s objectivity was summed up well by it’s editor and chief just two short weeks ago. He said that Obama is more than a President watching over our country. He’s like a God.
Maybe Obama should stand at the bell at the New York Stock Exchange. He can have a banner behind him that says: Mission Accomplished Out with the Recession, in with Socialism.
Recession over with….who are they kidding. To get us back on top do this: fire all Democrats, fire Arnold, Cut all taxes and give all business a 30% tax cut. Give all employees tax cuts. Restore the research and development code to the IRS tax code with puts film back on the same level it was back in 1980 with tax breaks. re-open oil exploration off the coast of California.
If not then you are looking at 30% unemployment nation wide and 20%percent in California. Or stop the film industry for flooding out of state and put us back to work. But it won’t happen. Too many Liberals trying to tax us to death.