The Recession in the U.S. and Europe That Never Truly Ended

[Coach Hank Crisp]

Click here for link

Why does it still feel like a recession? Economist Richard Koo has a simple explanation (pdf, via Krugman): We're still in a recession.

This kind of recession Koo is talking about is not a technical recession. After all, the economy is technically growing -- slowly, imperceptibly, like the turning of the earth. But upon closer inspection, we're in a shadow recession he and other economists call a "balance sheet recession."

That means that just about everybody in the Western World -- households, corporations, and sometimes even governments -- is focused on paying off our balance sheets (i.e.: paying off debt) at the same time. That's nice for our balance sheets. But it's a horrible way to jumpstart a weak economy.

[ricky023]

I wonder if we will ever get back to the growth of the 70's and 80's where work was just across the street? A construction worker could quit walk across the road and get another job. I miss the jobs but I hope the future is that much brighter soon. RTR!

[BAMAWV]

I wonder if we will ever get back to the growth of the 70's and 80's where work was just across the street? A construction worker could quit walk across the road and get another job. I miss the jobs but I hope the future is that much brighter soon. RTR!

Well let's see-- I think Jimmy Carter was President 77-81 and unemployment was 17% in most places. No one had time to go find a job 'cause they were standing in lines for a gallon of gasoline while the Iranians tortured our embassy people. Maybe that is just the way I remember it. Now, another Democrat is out to beat his record. Bless their hearts!

 

[Coach Hank Crisp]

I wonder if we will ever get back to the growth of the 70's and 80's where work was just across the street? A construction worker could quit walk across the road and get another job. I miss the jobs but I hope the future is that much brighter soon. RTR!

Well let's see-- I think Jimmy Carter was President 77-81 and unemployment was 17% in most places. No one had time to go find a job 'cause they were standing in lines for a gallon of gasoline while the Iranians tortured our embassy people. Maybe that is just the way I remember it. Now, another Democrat is out to beat his record. Bless their hearts!

 

11-04-1979 took embassy hostage. He it until Reagan was sworn in. 444 days held?

 

[BAMAWV]

I wonder if we will ever get back to the growth of the 70's and 80's where work was just across the street? A construction worker could quit walk across the road and get another job. I miss the jobs but I hope the future is that much brighter soon. RTR!

Well let's see-- I think Jimmy Carter was President 77-81 and unemployment was 17% in most places. No one had time to go find a job 'cause they were standing in lines for a gallon of gasoline while the Iranians tortured our embassy people. Maybe that is just the way I remember it. Now, another Democrat is out to beat his record. Bless their hearts!

 

11-04-1979 took embassy hostage. He it until Reagan was sworn in. 444 days held?

 

for looking it up. National embarrassment,-- whole world laughing at Carter. Hussein Obama actually thinks he is in the top 4 all-time, from a statement he made last week. Imagine someone that delusional with the nuclear football. Problem is that if he pulls the nuclear trigger it'll be on us, but I guess the radiation clean-up will count as jobs created.

Where be my Obama money?   

[cbbama99]

I wonder if we will ever get back to the growth of the 70's and 80's where work was just across the street? A construction worker could quit walk across the road and get another job. I miss the jobs but I hope the future is that much brighter soon. RTR!

Well let's see-- I think Jimmy Carter was President 77-81 and unemployment was 17% in most places. No one had time to go find a job 'cause they were standing in lines for a gallon of gasoline while the Iranians tortured our embassy people. Maybe that is just the way I remember it. Now, another Democrat is out to beat his record. Bless their hearts!

 

11-04-1979 took embassy hostage. He it until Reagan was sworn in. 444 days held?

 

for looking it up. National embarrassment,-- whole world laughing at Carter. Hussein Obama actually thinks he is in the top 4 all-time, from a statement he made last week. Imagine someone that delusional with the nuclear football. Problem is that if he pulls the nuclear trigger it'll be on us, but I guess the radiation clean-up will count as jobs created.

Where be my Obama money?   

Here you go, WV:

[Coach Hank Crisp]

I wonder if we will ever get back to the growth of the 70's and 80's where work was just across the street? A construction worker could quit walk across the road and get another job. I miss the jobs but I hope the future is that much brighter soon. RTR!

Well let's see-- I think Jimmy Carter was President 77-81 and unemployment was 17% in most places. No one had time to go find a job 'cause they were standing in lines for a gallon of gasoline while the Iranians tortured our embassy people. Maybe that is just the way I remember it. Now, another Democrat is out to beat his record. Bless their hearts!

 

11-04-1979 took embassy hostage. He it until Reagan was sworn in. 444 days held?

 

for looking it up. National embarrassment,-- whole world laughing at Carter. Hussein Obama actually thinks he is in the top 4 all-time, from a statement he made last week. Imagine someone that delusional with the nuclear football. Problem is that if he pulls the nuclear trigger it'll be on us, but I guess the radiation clean-up will count as jobs created.

Where be my Obama money? 

I didn't look up it. 

[BAMAWV]

I wonder if we will ever get back to the growth of the 70's and 80's where work was just across the street? A construction worker could quit walk across the road and get another job. I miss the jobs but I hope the future is that much brighter soon. RTR!

Well let's see-- I think Jimmy Carter was President 77-81 and unemployment was 17% in most places. No one had time to go find a job 'cause they were standing in lines for a gallon of gasoline while the Iranians tortured our embassy people. Maybe that is just the way I remember it. Now, another Democrat is out to beat his record. Bless their hearts!

 

11-04-1979 took embassy hostage. He it until Reagan was sworn in. 444 days held?

 

for looking it up. National embarrassment,-- whole world laughing at Carter. Hussein Obama actually thinks he is in the top 4 all-time, from a statement he made last week. Imagine someone that delusional with the nuclear football. Problem is that if he pulls the nuclear trigger it'll be on us, but I guess the radiation clean-up will count as jobs created.

Where be my Obama money? 

I didn't look up it. 

E-cred for good memory.

[Guest]

Username:
Password:
1 Hour 1 Day 1 Week 1 Month Forever

Welcome, Guest. Please login or register.

There aren't any users online.

Loading Tweet...