In case you haven’t heard- The Great Recession is over

It’s OK to start buying knives again. Spread the word.

grecessionThe Great Recession is technically over. Yes, the U. S. Government is officially calling an end to the worst economic period since the Great Depression. The U.S. economy expanded at a 3.5% annual pace in the third quarter, as massive government stimulus helped drag the economy out of the longest and deepest recession since the 1930s, the Commerce Department estimated last week.

moneyAnd while we still have some serious issues, if what we’re told is correct, we spent our way out of a bona fide depression (if that is really possible. I know I couldn’t do it-  I’d just get deeper into debt). That is good news, cause back around the end of last year things looked dire. Business screeched to a halt due to the tremendous uncertainty that permeated decisions at all levels.

We know it hit the knife industry hard, as buyers pulled back. But the storm is now over, so knife sales should now pick up, right? Production return back to normal, re-hiring at the plants and new product lines introduced. You know I’m only a knife collector, not an economist, but I think this is what’s supposed to happen. Isn’t it?

christmasI know unemployment nationally is 10.2%, home values have yet to stabilize (despite what NAR says) and folks are still struggling like nobody’s business, but they’re telling us The Great Recession is now over …..and just in time for Christmas.

Image Source: assets3.blurb.com, giantrobot.com, hittingmetalwithahammer.com

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Published in: on November 9, 2009 at 11:54 pm  Comments (1)  
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One CommentLeave a comment

  1. sadly that 3.5% GDP was 3% government expansion, i.e. used with taxpayer dollars that we haven’t felt the hit from.

    In actuality the private sector only improved by a mere half of a percent.

    Sadly it has an improved our economy at all. All it’s done is move us back in time to June of 2007


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