Scott R. Sullivan

May 2nd, 2008 by Scott

While many in the media and the far Left-winged wait with anticipation for an official word that we are, indeed, in a recession, their faces only turn blue waiting.

You see, as I have mentioned many times over the past several months, there was no such thing as a 2007 or 2008 recession like so many claim.

Yes, many say that we are already in a recession. Some might acknowledge that while we are not, technically, in one yet, it is bound to show up sooner or later, so lets just call it one already.

Some are even saying that because for some, it “feels” like a recession, then it is. By extension, because it feels like leather, it is leather and not plastic.

A little background for those on the left that can’t stand my continual correct observations regarding the state of the United States’ economy.

recession n. - Two consecutive quarters of falling real gross national product (GDP).

According to the BEA:

Real gross domestic product increased at an annual rate of 0.6 percent in the first quarter of 2008, according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP also increased 0.6 percent. Source

So, in Q4 2007, the GDP INCREASED. In Q1 2008, the GDP INCREASED AGAIN.

According to every definition of the word, there was NO recession during this economic slowdown.

I can hear you now, though. Ahah! So we ARE in a slowdown.

Of course we are in a slowdown. No one is denying this. But the slowdown has slowed, and has possibly reversed and is looking very much like stronger growth is in the near future.

After all, the unemployment rate fell to 5% last month (Source). And the job losses (yes, there were some 20,000 job losses) were 55,000 FEWER than expected. Only 25% of the expected job losses materialized. MUCH better than anyone had predicted.

They continued in that article:

In other economic news, the Commerce Department reported that orders to U.S. factories rose a bigger-than-expected 1.4 percent in March.

AND, the dollar isn’t doing to bad either. In fact, in a sign that the American Dollar is showing signs of a recovery and growth:

Futures traders are betting for the first time since December 2005 that the dollar will gain against the euro. (Source: Bloomberg)

With an economy turning around already, by November, we should have an even better economic outlook and the Democratics will have not a leg to stand.

The funny thing is, in order for the Democratic candidates to continue criticizing President Bush and the Republicans, they NEED a poor economy, which is why they have all been PUSHING for a recession for close to a year.

It’s gotta suck to be a Democrat in a position where you are rooting for Americans to suffer.