Monday’s declaration by the panel of the National Bureau of Economic Research confirms what many private economists, lawmakers and members of the general public already have assumed and puts an official date on it: A U.S. recession began in December 2007.
http://www.msnbc.msn.com/id/27999557
huh…. guess they changed their official definition of recession? and call it what you will when you will… it dont matter…. please.. just FIX IT!
recession…….but yet black friday was up 7% from last year!
Maybe is better now.
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recession…….but yet black friday was up 7% from last year!
Maybe is better now.
The reason black friday sales were up is because EVERYONE was looking for a bargain trying to save on cash. Did anyone brave a Menards on black friday? Complete insanity!!!!
My wife was silly enough to be out and about all day on Friday. She didn’t go to a store that wasn’t insanely busy. She passed up Best Buy and Cabelas in Rogers at 6AM because they were already parking on the frontage road.
We went out to eat a week ago last Friday, took forever to get a table because the restraurant was packed. The following day I made my annual trek to MOA with my wife and kids. Never seen it so busy, this is a full week before Thanksgiving. The Christmas tree place in Foley was packed this past Saturday. People are out spending money like crazy, so I’m not sure how “we” can be in a recession or down turn right now. If so, it’s apparently only affecting a small portion of our society.
well when gas prices are $4 a gallon what do you expect? Who didn’t cut back this past year? who could travel anywhere?
that one commodity alone controls this economy. if you can’t travel, you can’t spend.. or can’t afford to spend. and when the prices of everything else goes up due to shipping expenses, how can you not have a recession?
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My wife was silly enough to be out and about all day on Friday. She didn’t go to a store that wasn’t insanely busy. She passed up Best Buy and Cabelas in Rogers at 6AM because they were already parking on the frontage road.
We went out to eat a week ago last Friday, took forever to get a table because the restraurant was packed. The following day I made my annual trek to MOA with my wife and kids. Never seen it so busy, this is a full week before Thanksgiving. The Christmas tree place in Foley was packed this past Saturday. People are out spending money like crazy, so I’m not sure how “we” can be in a recession or down turn right now. If so, it’s apparently only affecting a small portion of our society.
I wonder of all those people spending money like mad are spending cash or using credit? I’m guessing it is credit. I’m sure a lot of people know they shouldn’t be out spending money but they are “saving” money by buying stuff on Black Friday. Maybe they figure their next raise or bonus will cover the charges. What if their company cuts bonuses and replaces it with a Jelly of Month Club membership? Maybe they won’t be getting that raise next year? Then what? Just because people are out spending money doesn’t mean they have the money. Maybe I am a bit of a pessimist but I don’t think all of a sudden all of these people out are being “smart” and using cash. I’m not sure if it is a great measure to know if we are in a recession or not??
As for the shopping, I went out at 7. That is 7pm. I didn’t see the need to give up sleep for a couple of “door busters”. I hit the local target. There weren’t very many people out shopping and I got a lot of toys at 50% off. That helped my Christmas budget. And I used plastic but I have it budgeted in to pay it out of our December income.
According to most postings: people were using cash or debit cards, not credit cards.
We didn’t go out shopping on Friday. I don’t like the crowds. Plus there didn’t seem to be bargains on what we were looking for that day. We spent the day with our daughter, home from college. 
msmbc can say what they want. We will need one more quarterly decline to be in a recession.
-J.
Well technically MSNBC is just reporting what the National Bureau of Economic Research is reporting
that’s a change, MSNBC just reporting the story, you sure they did not add their personal opinion on the topic… 
I do not know where people say all these shoppers were on black friday but the amount of shopping traffic in the Blaine fleet farm and Menards was no different than any other day of the year!
Cash is King!!
I’ve used my credit card twice since June.
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Cash is King!!
I’ve used my credit card twice since June.
I am on the exact opposite side. I very rarely carry cash, but have yet to pay a late fee to a credit card company. I can get the rewards, track all my misc. spending very well, and still pay off my bills. Credit cards are not the problem, irresponsible spending is.
I use the credit card to look at my costs on everything. It is amazing when you see it on paper the stupid money you can spend on stuff such as pop, candy, donuts, etc, that can very easily be cut out. And when I carry cash, it tends to disappear and I don’t know where it went 
Sorry for the hijack. Back to topic now
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