Comments on: Third quarter growth now 2.8%, much lower than original estimate http://www.creditwritedowns.com/2009/11/third-quarter-growth-now-2-8-much-lower-than-original-estimate.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: Edward Harrison http://www.creditwritedowns.com/2009/11/third-quarter-growth-now-2-8-much-lower-than-original-estimate.html#comment-57669 Edward Harrison Tue, 24 Nov 2009 15:10:00 +0000 http://www.creditwritedowns.com/2009/11/third-quarter-growth-now-2-8-much-lower-than-original-estimate.html#comment-57669 I like that term 'technical recovery.' I want it to gain more traction as a way of thinking about things because what Krugman says is right. Here's what I wrote about it in July: http://www.creditwritedowns.com/2009/07/technical-recovery-wont-feel-like-a-recovery-to-most.html I didn't coin the phrase, but I do want to coin the concept that the economy is not in an actual recovery until it reaches the level of GDP it attained before the recession began. Until then, it is merely in a technical recovery. Maybe this will help people psychologically if the terms fit the reality better. I like that term ‘technical recovery.’ I want it to gain more traction as a way of thinking about things because what Krugman says is right.

Here’s what I wrote about it in July:
http://www.creditwritedowns.com/2009/07/technical-recovery-wont-feel-like-a-recovery-to-most.html

I didn’t coin the phrase, but I do want to coin the concept that the economy is not in an actual recovery until it reaches the level of GDP it attained before the recession began. Until then, it is merely in a technical recovery.

Maybe this will help people psychologically if the terms fit the reality better.

]]> By: Sean http://www.creditwritedowns.com/2009/11/third-quarter-growth-now-2-8-much-lower-than-original-estimate.html#comment-57667 Sean Tue, 24 Nov 2009 14:45:00 +0000 http://www.creditwritedowns.com/2009/11/third-quarter-growth-now-2-8-much-lower-than-original-estimate.html#comment-57667 According to Paul Krugman: the original growth rate, assuming it was maintained, would have brought full employment during Sarah Palin's second term....with this growth rate it will never happen. " We may be in a technical recovery, but we’re not recovering." According to Paul Krugman: the original growth rate, assuming it was maintained, would have brought full employment during Sarah Palin’s second term….with this growth rate it will never happen. ” We may be in a technical recovery, but we’re not recovering.”

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