Mental Recession? Maybe. Economic Recession? No

So who's hiring? We've started the second great depression.

Let's see. EVERYONE I know has been laid off.

I haven't had a job since I was laid off after 9/11

from Schwab and my programming job went to India.

If we're not in a recession how come EVERYWHERE

I go I see AVAILABLE and FOR LEASE on store fronts

that have NEVER been available before.

How come grocery stores are cutting the hours of their

employees. How come nobody's hiring.

This is just the beginning, it's going to get

much, much worse. There are NO JOBS - anywhere.

Blake

Blake Southwood of CA @ Jul 20, 2008 00:10:14 AM

Good Data

I for one appreciate the data points you're keeping alive in the public debate, which would otherwise die on paragraph 7 of a story on page C9.... I've become more cautiously optimistic than before, and one of the challenges is finding any mention of positive data points in the headline media. Keep it up.

Tim Kane of DC @ Jul 18, 2008 13:48:09 PM

"If you keep repeating it enough, does it become true?"

Yes. If you keep repeating "Recession", it becomes true.

Moe of NY @ Jul 17, 2008 19:13:15 PM

WOW

All I can say is wow.

I'm wondering if you really live in the same country as I do.

You definitely don't live in the same reality as I do.

1) Profit margins at nonfinancial companies remain healthy.

ahhem construction, high end retail, auto, aviation, etc

2) Trade remains strong.

Our dollar is buying us less and less every day. Cost of transportation is rising and will continue to for the foreseeable future.

3) Businesses will have to rebuild their inventories

I have no idea what this has to do with anything. I suspect nothing. Bunch of schizophrenic statistics about nothing that matters.

vividvew of NC @ Jul 17, 2008 18:47:06 PM

Give it up

I have to agree with Josh -- Bloomberg isn't exactly a left wing media outlet, and they are in the Recession camp:

It's All Over But the Dating for U.S. Recession: http://www.bloomberg.com/apps/news?pid=20601039&sid=aFR.kFWcXvEw&

Scott of VT @ Jul 17, 2008 16:03:55 PM

One plus one equals...

"It should be noted that only twice in the last three decades—at the end of 2001 and 1982—did firms destock at the pace seen in 1H08..."

Umm... aren't 2001 and 1982 exactly when we last had recessions? Way to keep cherrypicking the good data and ignore the housing bust, energy prices, bear stock market, credit crunch, financial market freeze...

Josh of MO @ Jul 17, 2008 13:43:40 PM