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Recession in US is over: Obama

Created by : Radhakrishna Marar, Business Analyst, Oracle  | 09 10 2009 13:13:45 +0000
Industry : IT ServicesFunctional Area : USA(Markets)
Keywords : recession financial obama economic meltdown global meltdown us president us recession barack bailour
Activity:  275 views;  last activity : 07 06 2010 20:18:09 +0000

US president Mr. Obama has said that the US economy has stepped back from its worst recession in seven decades and is on the road to recovery. In a speech before both houses of Congress that was largely devoted to health care, Obama took credit for pulling the world's largest economy out of a deep crisis as his government was responsible for the $787 billion bail out package which was approved by the congress.


http://www.thelatestnews.in/wp-content/uploads/2009/03/obama28.jpg

And the reports suggests that the Federal Reserve found that most of the regions of the country reported their economies either stabilising or growing, but some are still experiencing low or flat sales and weak markets.

So what do you think people is recession finally over in US? Share your thoughts on this.

  
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I think yes Mr. Obama is right here, may be not completely but most of the states in US are really doing well lately and his bailout plan has worked well for them and most of the industries are making  a comeback, but than US which is a major power horse in terms of economy was very late to recover from recession than some of the asian countries like India & china, which is a good news for asian countries i guess, but yes slowly but surely US is coming out of recession
By Radhakrishna Marar, Business Analyst, Oracle  09 10 2009 13:22:19 +0000
 
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No, I don't think that recession is over in US, yes condition is little bit better than a year ago but I still don't feel that US will come out of this recession so quickly. The affect of stimulus package and 0% federal rate is showing some kind of improvement in few sectors.

But I think the huge stimulus package, quantity & pace of minting money and 0% federal rate will show improvement for a short time. It will follow very big crises of hyper Inflation, erosion in the value of dollar and increase in lending rate once inflation spikes up. Increase lending rate makes borrowing expensive again and hider further growth.

I think this is a vicious cycle and it will take some more time for US to come out of it 
By Deepak Agrawal, Consultant, Independent Consultant  09 10 2009 14:17:04 +0000
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Yes the perspective have stared showing positive signs however I am not sure how much Mr. Obama is responsible for it ... It may still take few months till we see the graph moving upwards and the markest opening fully
By Darpan Sinha, Tech Architect, Royal Bank of Scotland  | 09 14 2009 11:28:48 +0000
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I also think so. many companies in USA are regainng their lost hold from the market. Though late, but slowly it has again started employing people. The reason India and China were least effected by recession was because their maximum revenue generated was from agriculture and self dependant products...
By Sulagna Brahma, Sr Reporter, Leading Indian English Daily  | 09 10 2009 14:26:53 +0000
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Recession seems to be over, but the recovery is not going to quick and fast. it is going to be long drawn with a risk of falling back into recession
By Naveenkumar K, Project Manager, Satyam Computer Services  | 09 10 2009 14:02:22 +0000
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Recession is not over even in US. People still loosing jobs and lots of improvement is needed in Banking and Financial sector. They have not come to stable stage even in long run. Some of the industries are stable and trying to survive.
By Atul Kumar, `Confidential, Confidential  | 09 11 2009 06:06:23 +0000
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