So, I have heard people say that there's already a recession. But mind you, a recession actually has a technical definition: 2 consecutive quarters with negative GDP growth. Now, I concede, macroeconomics is a fairly difficult to understand subject, and I'm no expert at it. But I do think it's obvious, that, for some people, the economy has a worse impact than for others, and for that reason they're quick to use the 'R' word.
I just got my Tax refund, so I must say that I feel I have not been negatively affected by the economy. In fact, it allowed me to refi my mortgage at a great rate, and I feel like I'm better off that way. Now, don't get me started on the lower yield rates, but I don't think that has that much of an impact on me, you know maybe $5 or $10 a month, but nothing big.
But who needs money, when you have a wonderful wife?
Recession, say what?
February 22nd, 2008 at 03:45 pm
February 22nd, 2008 at 04:15 pm 1203696920
Most 'think we are on our way to a recession' would probably be the best spin on what's really happening.
I hope your wife knows how wonderful you think she is???
February 22nd, 2008 at 04:23 pm 1203697380
Also Q3 2007 real GDP was 4.9 and forth quarter preliminary GDP (final due 2/28) is 0.6. Slower growth but positive growth none the less.
source: http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
February 22nd, 2008 at 06:36 pm 1203705381