The Recession Ended in June, 2009: Really?

The Recession Ended in June, 2009: Really?


Jobs, what jobs?

The latest report says that our current recession officially ended last June!  The economic analysts need to get in touch with what is really happening in our economy instead of measuring a recovery based on a chart! So how come it doesn’t feel like we are in a recovery? 


I haven’t brought out my best Mumms champagne to celebrate this exciting news!  I’m keeping it on ice for a few more years until my house is worth more than what I bought it for instead of a 35% loss, my insurance premiums stabilize instead of the recent increase of 20%, and my savings in my 401K actually make more than 2%.


Unemployment is still over 10% in most places, people are still getting laid off, real estate is still flat, well paying jobs are scarce and inflation is slowly rising.  We are in an election year with politicians on both sides of the aisle speaking about their plans for a recovery; it’s all sounding like rhetoric to me!


One bright spot is the 8% up tick in the stock market over the past few months which seems to rise whether the economy is healthy or not.  It’s as if the investors have created their own financial reality and are ignoring the dismal business trends and lack of jobs knowing it’s only going to get worse, so time to make a little money before the ceiling falls out of the stock market.


The closer we get to 2014 when everyone will have to be insured in the United States, the higher the insurance rates will be for health care and long term disability.  Check your rates for next year and you’ll see a large increase in coverage.  Money is still tight for small businesses and credit cards are starting to increase their rates.


My Citi credit card was cancelled last week unexpectedly leaving me with unpaid bills that I used for my website and AOL.  Seems that I opted out of a 6% increase last April, so they dropped me without notice!  The credit companies know that the cost of money is going to increase. It would have been nice of them to let me know that they were ending our relationship.


State taxes will also rise to balance the state budget that has lost revenue from taxpayers and investments.  The fight to raise federal taxes will continue and I suspect Obama will get his way and raise taxes.  The cost of living is going up as our wages are going down and that’s if you have a job.


Really, I am an optimist but I am also a realist.  I watch all the financial reporting which gives the weekly unemployment claims, retail sales and other pertinent financial data.  In the end the numbers don’t mean much when over 8 million people are unemployed and the real cost of living is going up.


So, in celebration of the end of the recession, I am taking an aspirin and going to bed.  Tomorrow is another day.








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