51–60 of 128 posts
As a "millennial" who graduated in 2008, I seriously hate reading shit like this. Maybe it recovered for the Boomer's pension funds and 401k's, but it took many of my friends over a decade to find work equal to their qualifications. They're only JUST NOW starting to get payed what they deserve (PHDs, MBAs, and Masters degree holders).
> The Great Recession officially ended in June of 2009 As a "millennial" who graduated in 2008, I seriously hate reading shit like this. Maybe it recovered for the Boomer's pension funds and 401k's, but it took many of my friends over a decade to find work equal to their qualifications. They're only JUST NOW starting to get payed what they deserve (PHDs, MBAs, and Masters degree holders).
"The indicator has both correctly signaled a recession 4–5 months following the beginning of the recession and has virtually never called a recession incorrectly since 1970.' This is more like "how will we know when a recession has already started without waiting for a down GDP for two quarters." That's 6 months in. This signal lets you know 4-5 months in. Not exactly a leading indicator.
It's at least 6 months in: NBER recession dating even for recessions that include at least two down quarters (which, while a popular conception is not the official definition, though I don't think any two-quarter consecutive downturn has failed to be included within a declared recession) is often before the first down quarter in a consecutive pair. (E.g., the Great Recession is timed from the Q4 2007 peak, even though there was only one quarter of decline immediately following, then a dead-cat bounce quarter, then a four quarter consecutive decline. If you looked for a pair of down quarters, you'd detect the Great Recession a year after it started; 4-5 months moves that up a lot.)
> The Great Recession officially ended in June of 2009 As a "millennial" who graduated in 2008, I seriously hate reading shit like this. Maybe it recovered for the Boomer's pension funds and 401k's, but it took many of my friends over a decade to find work equal to their qualifications. They're only JUST NOW starting to get payed what they deserve (PHDs, MBAs, and Masters degree holders).
They are using a technical definition of recession.
> The Great Recession officially ended in June of 2009 As a "millennial" who graduated in 2008, I seriously hate reading shit like this. Maybe it recovered for the Boomer's pension funds and 401k's, but it took many of my friends over a decade to find work equal to their qualifications. They're only JUST NOW starting to get payed what they deserve (PHDs, MBAs, and Masters degree holders).
That is absurd. In a free market with free movement of goods and people, whatever you are getting paid is what you "deserve" aka what other participants in the market are willing to pay for your services.
It is only explicit government intervention that overrides this process; subsided renewal energy sources, childcare, housing etc.
But with everything else being equal your friends were getting exactly what the market could afford. Just because you have a PHD or Masters does not mean someone else owes you a high paying salary.
> The Great Recession officially ended in June of 2009 As a "millennial" who graduated in 2008, I seriously hate reading shit like this. Maybe it recovered for the Boomer's pension funds and 401k's, but it took many of my friends over a decade to find work equal to their qualifications. They're only JUST NOW starting to get payed what they deserve (PHDs, MBAs, and Masters degree holders).
No, it didn't, certainly not at the point the recession is deemed to end.
The end of a recession is when the aggregate recovery begins, not when it is complete. (And yeah, recovery from recession doesn't mean most people are doing better, as it's an aggregate about the economy that isn't concerned with distribution—the long “recovery” between the short recession of 2001, IIRC, and the Great Recession saw every quintile but the top without gains, and the bottom three declining.)
The isn't a Boomer vs Millenial thing (it's more of a bourgeoisie vs. proletariat thing.)
> The Great Recession officially ended in June of 2009 As a "millennial" who graduated in 2008, I seriously hate reading shit like this. Maybe it recovered for the Boomer's pension funds and 401k's, but it took many of my friends over a decade to find work equal to their qualifications. They're only JUST NOW starting to get payed what they deserve (PHDs, MBAs, and Masters degree holders).
Why does it have to be just a recession with rebound a few years later? I’d argue many are thinking too positive following 2008 where everything will go back to normal and prices will rally to all time highs. The US economy almost blew up into a full blown depression in 2008. The Fed swooped in to save the day. Can the Fed do that again indefinitely with not only US but potential problems worldwide? The global econom…
> Can the Fed do that again ...? I mean they don't have much to give do they? Unless we're doing negative interest rates this time.
> The Great Recession officially ended in June of 2009 As a "millennial" who graduated in 2008, I seriously hate reading shit like this. Maybe it recovered for the Boomer's pension funds and 401k's, but it took many of my friends over a decade to find work equal to their qualifications. They're only JUST NOW starting to get payed what they deserve (PHDs, MBAs, and Masters degree holders).
Of course, everything went to shit so quickly that it took a hell of a long time to come back.
Actually, it didn't really come back unless you're in the elite.