Friday, September 11, 2009

The recession is "over"

see? We had nothing to worry about. The Consumerist links to a Wall Street Journal article that explains that it's celebration time, the recession is over.

Of course, this is the same group that didn't believe the recession was possible, and to them, the recession is "over" when we reach the point where the economy starts to grow, or something silly like that. To you, me, and the rest of the real world, the recession is over when things stop sucking.

Right. I mean when banks are willing to extend credit to people and businesses, allowing businesses to expand (hiring people, buying goods and services) and individuals to return money to the economy (buying items). It's all very well to say that things are getting better, but it's hard to believe when the institutions at the center of the collapse refuse to help along the recovery. (You know, they're trying to hedge their bets now that they've "learned their lesson", meaning now that they've got government money to erase their mistakes, they don't have to lend it.)

Then again, my banks keep wanting me to take out equity lines of credit, consolidation loans, and stuff like that. Of course I haven't actually taken them up on any of it, so I don't know that they know that much about my actual financial state. (Most of what they send is about being "pre-approved", which of course isn't what they actually mean.)

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