Ryan
Feb 2nd, 2008
Feb 2nd, 2008
Still Not a Recession
The numbers for the fourth quarter are in: real gross domestic product (GDP) was up. It was up a very meager 0.6%, but it was up (and yes, it is possible it will be revised downward into negative territory at some point). If we go back to our previous discussion on the definition of a recession, two consecutive quarters of negative GDP meet the criteria for a recession.
We currently don’t have one negative quarter of GDP. GDP for the fourth quarter of 2007 was positive. Barely, but positive. And everyone is correct in being concerned about growth and doing something about it, yes. But recession?
No.
Right now, no recession.
Hey Ryan,
Thanks for posting this. All you ever hear is the doom and gloom and personally, I get tired of it!
Lots of politicians and economists are saying we need to grow slowly and 0.6% would seem to qualify 8^)
Keep the good information coming.
Ron
Thanks, Ron.
BTW, I really like your recent posts on some of the things you consider errors earlier in your life and what you wish you knew “way back”. I try to discuss some of this stuff with my work interns or younger coworkers; if they can be more financially successful than I am at the same age, more power to them.
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Ryan