Tuesday, September 21, 2010

Restorcession Continues

It's all over the news. The recession is over, but people are still feeling it's effects. There are even polls, especially on local news, asking people whether they think the recession is over or not. The only problem is, it's not an opinion, it's a fact. But that doesn't change 10% unemployment and less than 0.5% economic growth. The economy isn't recessing, but it isn't growing much either. For most people, whether we are technically in a recession or not matters very little. What really matters is when the economy comes back to it's regular growth rate, around 3%. So what I propose is another name for economic declines, not a recession, but a restorcession. It's not over until the economy is fully restored to it's predecline state.

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