USA Recession 2010
| Back to economics. harrisandreson (2010-03-18)  |
Financial experts can't agree on how long this recession will last. Renowned economist Martin Feldstein says the U.S. recession will last beyond 2009. Feldstein was the former president and founder of the National Bureau of Economic Research.
Meanwhile, Nouriel "Dr. Doom" Roubini, chairman of RGE Monitor who correctly predicted in 2006 a worldwide recession and a housing market collapse that would lead to a credit crunch, says the U.S. recession will last 2 full years. The NBER declared last December that the U.S. recession started in December 2007.
Former Secretary of Labor Robert Reich believes it's unlikely that the White House and Congress will let us fall into an economic depression. And Donald "You're Fired" Trump has determined that the U.S. is already in a depression.
The Federal Reserve predicts that the U.S. economy will recover in the second half of 2009, though unemployment will continue to rise in 2010.
Prediction: The U.S. recession is over by the end of 2009. Rather than wait for the NBER data to make a ruling (which could take 6-12 months after a recession is over), we'll look at the GDP growth rate from the Bureau of Economic Analysis. Two straight quarters of negative growth rate indicates that we're in a recession
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