The Recession Is Over, Even If Few 'Feel' It

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Not worth it...no body's home.

Chris Petty of GA 11:48PM October 28, 2010

What Daddy Obama and lesser democrat stimulator minions have given us is trillions in new federal debt. That is what everyone 'feels', as an ominous, looming, ticking time bomb, always in the background. All that new federal debt carries specific payback terms. Time waits for no man, and payback of all that new federal debt will not wait for a gangbuster economy. Particularly ominous is all that new federal debt was issued at an unprecedented low interest rate, so new-new federal debt cannot be issued down the road at a lower interest rate to refinance the old-new federal debt.

Across the world centrally-planned economies as run by central elites have bitten the dust. Now finally, starting in November, we are going to dump our version, and the 'progressive' self-serving elites who banged that drum.

The gig is up with President Vietnam Carter Obama. He's a guy who invites you out to dinner, to 'help' you out. Then pays for yours and his dinner with your credit card. End result, he gets a free meal and you get the bill.

And Velma Hart didn't just resonate with the right, she was in perfect pitch with the middle.

dom youngross of OH 2:34PM September 25, 2010

Politicians do not make the economy. It is people! As the Beatles invigorated the British economy in the sixties with the global patronage of their music, so will people with new ideas, products and services will reinvigorate the global economy.

But right now people are kept from moving with high fuel prices justified by the perception that peak oil is near. This is nowhere from the truth. The BP oil spill have showed just how much more oil there is in the planet. The BP incident got the world worried over the unexpected flow of some 20,000 bopd from just one well.

If they really want the ending of the recession to be felt by all, they should bring down the prices of oil. Government stimulus is limited. Stimulus coming from low prices of oil will have a better impact.

Gabriel Atega of CA 10:28AM September 23, 2010

Job creation is too slow because of high labor productivity and downsizing to boost profits; labor saving technology; the fact that the labor market is expanding faster than job creation as more "hidden workers" return to the job market; and the fact that 8.4 million jobs are hard to replace all at once. Much of the positive growth of the private sector job market is more than offset by the decline in public sector jobs. These are better paying jobs and their loss has a dramatic effect on the recovery. In addition, most states are heavily in debt and are laying off public sector workers which only worsens the economy.

Paul Hanson of CA 6:15AM September 23, 2010

Stating that the recession being over is a fact has little to do with shaping our future. Our history is filled with stories that defy facts. Consumer confidence is essential in turning around the economy and for its future growth. Let's not talk about fact but understand the reasons for the success of products like the "pet rock" and the hoola hoop. You must ignite the interest of the people to generate consumer confidence, which will then lead to a "cycle" of prosperity. This is all cycle driven. As for are current situation the administration has not done a good job in creating consumer confidence and has missed the mark through circumstances created by their own hand - now that's a fact!!

Ken Sillifant of NY 9:49PM September 22, 2010

You agree with 700 Club that foreclosures are up. That is all I used source for.

Thanks.

Next time on my source read a prayer. Pray for all the new Republicans to be in Congress come January…

I'll be using Oral Roberts as source soon...

Bill Hedges of MO 3:57PM September 22, 2010

Yes, foreclosures are again on the rise but the question is why? One reason is explained by NPR;

"Banks have been stepping up repossessions to clear out their backlog of bad loans with an eye on eventually placing the foreclosed properties on the market, but they can't afford to simply dump the properties on the market...U.S. home sales have collapsed since federal homebuyer tax credits expired in April.

Lenders are offering a variety of programs to help homeowners modify their loans, but their success rates vary. Hundreds of thousands of homeowners can't qualify or fall back into default. The Obama administration has rolled out numerous attempts to tackle the foreclosure crisis but has made only a small dent in the problem. Nearly half of the 1.3 million homeowners who enrolled in the Obama administration's flagship mortgage-relief program have fallen out.The program, known as Making Home Affordable, has provided permanent help to about 390,000 homeowners since March 2009.Regardless, many troubled borrowers have seen their efforts to get a loan modification stymied."

http://www.npr.org/templates/story/story.php?storyId=129900835&ft=1&f=1001

Persistently high unemployment has been the worst culprit. People can't pay mortgages, even when modified, if they have no steady income. There seems to be no answer to this but more stimulus. Even according to the WSJ and the CBO it worked. Corporations are investing and their profits are increasing according to the BEA. Job creation is too slow because of high labor productivity and downsizing to boost profits; labor saving technology; the fact that the labor market is expanding faster than job creation as more "hidden workers" return to the job market; and the fact that 8.4 million jobs are hard to replace all at once. Much of the positive growth of the private sector job market is more than offset by the decline in public sector jobs. These are better paying jobs and their loss has a dramatic effect on the recovery. In addition, most states are heavily in debt and are laying off public sector workers which only worsens the economy.

The answer to all these problems is jobs. Until then, there should be a moratorium on foreclosures so long as certain terms are being met. Lenders are reluctant to pursue more foreclosures and add to the glut of unsold housing thus collapsing the market. At the same time they want to eliminate a back log of bad mortgage loans. We are on track for a million foreclosures this year. A collapsed housing market will put the economic recovery in jeopordy by adding to the current credit squeeze and will also discourage investment and job creation.

http://www.huffingtonpost.com/2010/07/15/foreclosure-rate-american_n_647130.html

steve of IL 3:29PM September 22, 2010

was crediting Jim Croce for, "Feelings" - I'll bet Jim is pissed - he was better than Morris Albert.

Bottom line is that the "real" un and underemployed rate is probably near 20%.

Thousands of factories and millions of blue collar jobs have been lost in the last 25 years - They're never coming back.

Executive greed and union demands have drained the life out of the economy.

We won't supply our own energy needs and industry is smothered by a thousand tenets of Environmentalist Dogma and choked by bureaucratic regulations.

Without steel mills, a large Merchant Marine fleet, heavy industry, mining and nuclear power we are doomed to existing in a sickly service and paper shuffling economy. The days of a "Can Do America" are buried - shrouded in a "Go Green" banner.

R.L. Schaefer of CA 2:00PM September 22, 2010

And, like a premature baby in ICU it's to soon to say whether or not the recession is over. I, like others, am optimistic. I hope we've turned the proverbial page on this one.

However, if it is, then Obama is the last person who deserves any credit. Sure, he and Democrat minnions will attempt to usurp the credit. I would expect nothing less. But, the fact is he just happened to be the one residing in the oval office. IF, big if, the economy has improved, then it did so DESPITE government meddling.

The problem following the recession are the precedents that government established. The first is that we can spend ourselves into oblivion creating a (singular) job at a cost of millions for the tax payer. That's on onerous precendent set by Obama and, to be fair, Bush.

The second it established corporate dependency on government in the "to big to fail" scheme Obama gave us. The expectation of responsible corporate governance is gone. It's been replaced with "bail out."

FYI, Marshall, foreclosures may have decreased, but the equity home owners had is gone.

I built my 3000 square foot, 3 bedroom, 2 bath home in '02. The build cost was $175,000. In '08 the home valued at $230,000. Today the home value is $160,000... less than what I built if for.

I've been responsible. I've paid my mortgage payment. I've stayed gainfully employed. Yet, the glut of foreclosures in my upper class neighborhood tells me that my neighbors weren't responsible. Either they lost jobs, purchased homes they couldn't afford, or simply made bad financial decisions.

Now because my family has grown, I'm at a point where we need a bigger home and I'm stuck. I can't sell the home without suffering a loss, potential buyers are similarly situated, and banks are not keen on lending.

Now I'm not crying . . . it is what it is. But to say the recession is over is to ignore the residual effects of the recession that continue to linger.

david of ID 1:50PM September 22, 2010

You might "feel" like what you "heard" was accurate, but the numbers and facts are telling a different truth.

-new home construction risen but it is still very low compared to where it was.

-the unemployment rate has been around 9.6-10.00 for the last 12+ months. Your stating that it is consistent and that is good news?

-forclosures are low, but you forgot to mention the 95,000+ properties that were taken back last month

You need to spend less time telling people what they should and shouldn't feel and more time doing research.

I also agree with the previous comment. You seem to have based a lot of this information on what you heard from the administration.

Jason of MT 12:32PM September 22, 2010

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Leslie Marshall

Leslie Marshall

Leslie Marshall is a nationally syndicated radio host heard nationwide weekdays from 7-10pm Eastern time on radio and streamed live at www.lesliemarshallshow.com. Leslie is also a Fox News contributor seen weekly on The O'Reilly Factor, America Live, monthly on Hannity and she sits in for Bob Beckel as one of the co hosts on The Five. She lives in Los Angeles.

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