America's Recession?

[The Dragon]

There are alot of mixed signals coming from American analysts reporting for Australian TV on the state of the American economy.
From what I can understand it would be better for your country to call it now.
The blame would fall on the shoulders of Bush, and the new president won't cop the flack for calling it and be able to put in place new measures for you flagging economy.
This would help the new President because as I said he(or she) won't have the stigma of calling a recession, blame and dislike for tougher monetary policy can be then blamed on a person who is no longer in office.
The new President looks like a white knight riding in to fix the country.

Do you think the Bush administration should announce a recession?

 

[swordfishME]

This is not how it works. An economy is said to be in recession once there is two consecutive quarters of negative growth. It is not something that can be declared no matter how many signs are there without the aforementioned two quarters of negative growth.

In any case, it would be political suicide for any president to declare a recession. Bush may not be up for re-election but his party does want to win in November.

 

[transformer_99]

This is not how it works. An economy is said to be in recession once there is two consecutive quarters of negative growth. It is not something that can be declared no matter how many signs are there without the aforementioned two quarters of negative growth.

In any case, it would be political suicide for any president to declare a recession. Bush may not be up for re-election but his party does want to win in November.

Yep, and they'll fix the report(s) to indicate it isn't a recession too. Create new ways to analyze the data. For reports, include, exclude and footnote where necessary.

 

[catman]

Much like Bush has done with reporting of so many facts-

he still refuses to acknowlege global warming, still refused to admit the "weapons of mass distruction" never, ever admitted, etc...

I think it will take decades for the country to recover, if ever, from his handiwork.

Congress is trying to repeal 18 billion (with a 'B') in tax cuts that have been given to the Oil Companies. Bush's response? to VETO it.

Need we say who has the real power?

 

[SpeedoGuy]

Presidents often get blamed or credited with economic trends that were probably going to occur anyway. It'd be refreshing to see less posturing on this issue although that seems just as inevitable.

 

[HazelGod]

Do you think the Bush administration should announce a recession?

I think this is the closest we'll get to that ever happening, doll.

 

[visualalert]

Yep, and they'll fix the report(s) to indicate it isn't a recession too. Create new ways to analyze the data. For reports, include, exclude and footnote where necessary.

That's just silly. None of the financial info is secret.

 

[visualalert]

This is not how it works. An economy is said to be in recession once there is two consecutive quarters of negative growth. It is not something that can be declared no matter how many signs are there without the aforementioned two quarters of negative growth.

In any case, it would be political suicide for any president to declare a recession. Bush may not be up for re-election but his party does want to win in November.

Thanks for injecting a dose of reality Jeffery. Gotta wonder where people get these weird ideas.