U.S. recession ended June 2009, NBER finds

I consider myself lucky to have a job, but I have already been forewarned that my company might not make it through this. The company I work for is in oilfield services. We basically do everything with a well except drill it (land based). BUT if the big boys don't have the money to drill new wells - the little guys like us don't have work to do. We were lucky it was summer because we could send our crews out to mow and do weed control and odd jobs like paint fences. Now that it's going to be winter - I don't know what's going to happen. We already had a meeting a few weeks ago saying our hours might get cut even more. We have been on reduced hours since last spring. I'm in a small office and we talk about our situations daily - we are all living paycheck to paycheck. There isn't any money to save. Gas prices went back down, but the cost of food didn't go back down with it. I've thought about canceling my health insurance to save some money, but with my luck something would happen. It feels like we are all teetering on the brink and one little nudge leads to disaster. It's nerve wrecking. There are a lot of small businesses out there just like the one I work for, their futures are still so uncertain.

The holidays are fast approaching and I think that is usually a good indicator of where we stand economically..

I work in sales and more often then not the companies i sell to are being run by banks or in forclosure. The travel industry is tanking right now. The company i work for is making 50% of what it was making this time last year. The economy is tanking, and it is for real.

I hope all of the peaceful warriors out there are making plans and getting ready for their time.

We have always had panhandlers where I live in the SF Bay area, but recently I have encountered a new kind of beggar. A child with her Grandmother, a woman with her baby, and another woman with a small child.

I see more and more businesses closing. From what I see, there has been nothing done for job creation. Obama has only recently announced a job creation bill.

People who want to blame Obama for the current economic situation created under GW and his foolish free market communist principles, are fools through and through.

The current destruction of the U.S. economy was started by Newt Gingrich and his contract on America, with the deregulation of the finance industry, which immediately led to widespread fraud in the finance industries. Clinton may have signed the bill, his biggest mistake, but it was Newt's baby.

The GW admin then aided and abetted in the widespread theft of middle class wealth, by turning a blind eye to criminal business practices, cutting taxes to the super rich, and vast expansion of the U.S. fed debt.

Increase taxes on the rich so that their money either goes to taxes, or goes to investment to create economic activity. That is what works.

Originally posted by boondock-saint
yea sure it ended
that's why there is this article

Nevada has highest unemployment rate in history last month 14.4%

edit on 21-9-2010 by boondock-saint because: link problems

You know that people who die in wars dont come back right?

THe recession (economic war) is over.

reply to post by poet1b


I dont understand why conservatives whine about job creation from the gov. It's not the gov's responsibility to create jobs... its not even business's responsibility to create jobs.


What people need isn't JOBS.... its INCOME.... JOBS are only 1 small way of generating INCOME.

As someone who was homeless before, and now am the owner of a business I can tell you that my prosperity has had ZERO to do with the employment rate...

I'm so sick of these people looking for jobs... go generate revenue you lazy people!

Originally posted by HunkaHunka

Originally posted by boondock-saint
yea sure it ended
that's why there is this article

Nevada has highest unemployment rate in history last month 14.4%

edit on 21-9-2010 by boondock-saint because: link problems

You know that people who die in wars dont come back right?

THe recession (economic war) is over.

People who kill themselves over economic problems don't come back either.

Maybe the recession has ended for you, but not for everyone else. Or are you just saying that to try and prop up obama?

Here's a great video of an obama supporter who doesn't think the recession is over ...

Originally posted by HunkaHunka
reply to post by poet1b

 

I dont understand why conservatives whine about job creation from the gov. It's not the gov's responsibility to create jobs... its not even business's responsibility to create jobs.


What people need isn't JOBS.... its INCOME.... JOBS are only 1 small way of generating INCOME.

Could be the dumbest economy-related statement I've ever read here on ATS and maybe elsewhere. Please give us all your idea for making income without jobs. This we've all got to hear. If it's really good, I'll write my resignation letter today.

As someone who was homeless before, and now am the owner of a business I can tell you that my prosperity has had ZERO to do with the employment rate...

I'm so sick of these people looking for jobs... go generate revenue you lazy people!

On second thought, it might be this statement ...

Originally posted by HunkaHunka
reply to post by poet1b

 

I dont understand why conservatives whine about job creation from the gov. It's not the gov's responsibility to create jobs... its not even business's responsibility to create jobs.


What people need isn't JOBS.... its INCOME.... JOBS are only 1 small way of generating INCOME.

yea! just go on the system you lazy people. It doesn't take all that much effort to go down to the welfare office.
and if that isn't what you meant, then you have a pretty screwed up view of the work place. I am glad you are living in fantasy land and money flows like a river where you come from, but over here in the real world, people aren't spending much money. And see, when folks don't spend much money on things, the folks who sell goods and services to said folks, are having a rough go at it.

As someone who was homeless before, and now am the owner of a business I can tell you that my prosperity has had ZERO to do with the employment rate...

no it had everything to do with the business you chose to enter and the time you chose to do it. Want proof? go try to start another business right now. Dump some money into it. nurture it, and work real hard. yea, I wouldn't do it either right now. bad timing. I wonder why? Oh yea, because nobody has any FREAKIN MONEY!

I'm so sick of these people looking for jobs... go generate revenue you lazy people!

how about you list 5 to 10 ways people on unemployment with a specific skill set can "generate revenue". Put your money where your mouth is. We'll be right here.

reply to post by HunkaHunka


Hunka, i would really like to hear about this business that you have? please reframe from your ridicule of ats members as it appears you are the only one that has it figured out. So again almighty one! fill us all in on this lavish type of business that you own. As for me, i had to close my plumbing company of over 10 years down and head back to college- then off to international law, as i am not one to tuck tail and run.

I have to agree with centurion about if no one is buying it dam sure makes no sense trying to sell anything unless you are into bartering!!

reply to post by allprowolfy


A good friend of mine started his own plumbing co. two years ago. He has had plenty of work to do with the commercial building and some residential. (Cleveland OH) but his biggest problem is cash flow. People aren't paying their bills to him on time or at all. It goes back to the money thing. Was that the same reason yours ended?

reply to post by network dude


Idaho is quit a bit different than the rest of the country as farming, and very small businesses dominate in this state. Residential housing and small commercial jobs was the name of the game from about 1998- to roughly 2007. With the housing crash of 2008 nothing has been the same. i believe the statistics are for every 10 houses, the banks own 3 and they are just sitting on them. Getting to my point, if the banks are sitting on every 3 in 10 homes and will not lend to small businesses such as my plumbing company, it does not take a rocket scientist to figure out what has happened here. Since 2007 i have had 3 separate friends in the bed and breakfast industry that have lost their business. i have had every mechanical contractor that i personally knew quit or pick up and relocate. i have seen several hundred realitors close their doors. it goes on and on, but my main point is this. i am still waiting on this jobless recovery to kick in here at Idaho, as it breaks my heart to see families that have had 3- 6 generations of doing the same business, lose it

I know that South Carolina has a lot of new jobs for a few months all they talked about on the news was how thousands of jobs where coming to the upstate. Boeing is building two factories and recently they where talking about the bmw plant getting a lot of business.

reply to post by network dude

You hit the nail on the head. It's all about cash flow and people paying their bills. I am in accounts receivables and I started tracking, with a fine toothed comb, our billing back in June. All of the sudden we are seeing a spike in our receivables, but all it amounts to is our customers are paying us later than they ever have. People who used to pay us in the 45 day range are now 90+. It's scary. I don't how anyone can have Hunkas attitude.

It did end in 2009. Big government, along with mom and pop, are trying to tank the economy. They are sitting on 4 trillion dollars in profits instead of investing in America's future.

It's still a recession to businesses because the sheeple aren't blindly spending their money on stuff they don't need anymore.

Originally posted by kanetaker
I know that South Carolina has a lot of new jobs for a few months all they talked about on the news was how thousands of jobs where coming to the upstate. Boeing is building two factories and recently they where talking about the bmw plant getting a lot of business.

You lie.....!

The GOP and Tea Party don't want to hear that noise. Fake News will never report that. Any good news is bad news to them. They want this country to fall apart just so they can hang on to a few seats in Congress.

And why would they want to do that? So they can continue to milk the middle class for all they got.

reply to post by allprowolfy


What is the Governor of Idaho doing to bring those jobs back? All you red states wanted the feds out of your business. Now all you red states are blaming the feds for not stepping in.

So again, what is your Republican Governor doing to bring those jobs back to Idaho? What is he doing? You guys voted him into office right? So, what is he doing to bring those jobs back?

You know what folks. What is your STATE elected officials doing for you? Every state has one governor, two senators and a whole host of representatives. What are they doing at the micro level to bring jobs back to your state? You guys elected them right? Well......

What are they doing at the micro level for YOU? Shouldn't they be doing something if the feds are doing nothing? What's stopping them from doing something at the micro level? Most states are run by republican governors. Is that why the country is screwed up?

What is their function when they don't deal with the feds? Sit there and do nothing? My goodness, what is their function?!?!?

I live in Texas. The only time I ever hear from our Governor and representatives is when they are blaming the feds for something or looking for a vote. Ask yourself when was the last time you ever heard from your elected officials?

Ok
I am a Canadian that also lives in Hong Kong. The recession is over ????OH MY GOD are these people dillusional and hoping the sheeple bite the hook....
I see exactly on a daily basis whos' buying and who's not. THE USA is buying nothing PERIOD.

Recession ? you only wish it was that bad believe me the word in the street in China and India is the Kingdom like many before is collapsing.

Good luck trying to convince me or others in the know thei incredible lie.

be well, plant food, and get a plan

Cheers

I mean really...let's take this all the way down to the local level.

Let's take a small city of 5000 people. They elect a Mayor to speak for them. Why can't this Mayor go to local businesses and give them a tax break if they hire people?

Why can't Governors, Senators and Representatives do the same thing for their STATE? And for those States that don't' have a state tax then offer them some of that federal subsidy money they get every year.