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Recession or No Recession?

Created by : Varun Sood, Associate, JP MorganChase  | 10 31 2008 17:05:53 +0000
Industry : Investment BankingFunctional Area : Movers & Shakers(Markets)
Keywords : Recession Economy Financial Crisis No
Activity:  401 views;  last activity : 07 06 2010 20:18:09 +0000
Will this economic downturn record two quarters of economic contraction to technically qualify as recession? Many economists say US is in recession in Q1, nearly a full point from economic contraction territory. So is recession really come in?
  
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Of course we are in a recession. Housing is dragging everything down with it. Those GDP numbers are questionable at best. With Gas prices 3 times what they were 2 years ago, a gallon of milk, loaf of bread and dozen eggs double what they were, I don't care how cheap Microsoft Windows is, this is causing a huge financial burden on most working class citizens.

By Varun Sood, Associate, JP MorganChase  | 10 31 2008 17:05:53 +0000
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We are in a situation where growth is bit hard to come by and with the current financial market not booming, one can say the situation is really bad. But i dont think we are into recession. It just market correction that is happening and the bubble is getting burst. The situation is going to turn around soon.
By Alok Kumar Singh, Sr. Associate, UBS  | 10 31 2008 17:07:43 +0000
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