Yes, for large corporations and banks of which directly benefited from the FLOOD of free credit (aka money) and ballooning asset prices provided by the FED, the recession ended. For the rest of us, all we got were higher asset prices and more taxes.
More than 50% of people in this country do not have 1000 bucks to cover an emergency, whether medical (LOL like 1k would do anything here) or a broken water heater, etc. More and more people are living on the edge, while large companies announce stock buybacks and mergers funded with cheap credit printed by the FED paid for with our money and our futures.
The last recession hasn't ended for much of the US. If that's what it takes to avoid the next one, it has been a crappy solution. IIRC it was 2010 when Wall Street declared that recession over. Funny, those guys.
That would imply the recession ever actually ended for most people, with unemployment dropping to non-recession levels and real wages rising significantly for the first time in decades.
That question is of course based on if we technically 'left' the last recession; I realize that by the supposed numbers we are out of the recession though it certainly doesn't feel that way.
I would say that hard times are certainly not over.
More than 50% of people in this country do not have 1000 bucks to cover an emergency, whether medical (LOL like 1k would do anything here) or a broken water heater, etc. More and more people are living on the edge, while large companies announce stock buybacks and mergers funded with cheap credit printed by the FED paid for with our money and our futures.
Yeah, glad the recession is over.
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