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The other day I had a conversation with a friend, a PH.d in Economics--economist. He said we will not have a double dip recession. I noted that is correct, we are not out of the first one yet.
He claimed that technically we are out of the recession because of two straight quarters of growth.
Who cares about technicalities when you are unemployed, losing your home and taxes are going up?
This is the real world: "Southern California home sales plummeted 20.6 percent in July from one month earlier, and were off 21.4 percent from one year earlier, DataQuick reported this week.
Just 18,946 new and resale homes sold in six Southland counties during the month, the slowest July since 2007, and the second-slowest since 1995.
Last months numbers were 27.4 percent below the July average of 26,085 sales, which goes back to 1988."
California is not in a recession, we are in a Great Depression. The unemployment rate is going back up, deficits are growing and government is still refusing real cut backs.
This is going to last until the people demand regime change. That is what November 2 should be about.
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He claimed that technically we are out of the recession because of two straight quarters of growth.
Who cares about technicalities when you are unemployed, losing your home and taxes are going up?
This is the real world: "Southern California home sales plummeted 20.6 percent in July from one month earlier, and were off 21.4 percent from one year earlier, DataQuick reported this week.
Just 18,946 new and resale homes sold in six Southland counties during the month, the slowest July since 2007, and the second-slowest since 1995.
Last months numbers were 27.4 percent below the July average of 26,085 sales, which goes back to 1988."
California is not in a recession, we are in a Great Depression. The unemployment rate is going back up, deficits are growing and government is still refusing real cut backs.
This is going to last until the people demand regime change. That is what November 2 should be about.
More...