Quote:
Originally posted by SoCal911SC
Every time I see your signature, I always think you have the oddest view on the supposed current "recession."
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In the final three quarters of 2003, the market finally rebounded permanently, agreeing with the unemployment statistics that the recession lasted from 2000 through 2003.
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I see promising signs, now, finally, after nearly 4-1/2 years. But overall employment today in the U.S. is 1,000,000 less than it was in January 2001.
Retroactively revised economic assessments of the beginning and end of a recession and a 'slow down' are common, and what I'm measuring against is "full recovery" to where the economy was in the first quarter of 2001 -- and we haven't gotten there yet.
You live in So Cal, Brian. You know we have not had a full recovery here. You can see it. Well, sorry, apparently you dont see it, but businesspeople I deal with do.
Similar situation in Northern Cal:
http://www.pressdemocrat.com/evergreen/stories/112004_fricker.html
When I see a UCLA biz school type saying the 'recovery is coming' in November '04, I somehow don't think he believes we've already enjoyed it.
No question, a pop in the R.E. bubble will be devastating here.