Hey, when recession is defined as two negative grow periods and we have not experienced that, then your anecdotal evidence for what you're and the rest of the liberals define as "recession" makes nice political ads but doesn't meet the definition of recession. Quote all the job loss numbers you want but when growth halts let alone reverses for two periods, then come back....
In the mean time consumers will continue to spend, yes at a slower rate and yes more and more are losing confidence, but recession isn't defined by "feelings" nor necessarily the current stock market value. Knee jerk reactions are exactly the reason we don't cry out recession at every down turn.
Having said that, the effects on entertainment dollars may prove counter-intuitive. Less may be spent going to the theaters and more spent on cheaper home entertainment. The net effect on home entertainment could be a wash or even small growth. Hard to tell but let's not get reactionary....
Reader Comments (Page 1 of 1)
JimC @ Jul 14th 2008 12:47PM
Hey, when recession is defined as two negative grow periods and we have not experienced that, then your anecdotal evidence for what you're and the rest of the liberals define as "recession" makes nice political ads but doesn't meet the definition of recession. Quote all the job loss numbers you want but when growth halts let alone reverses for two periods, then come back....
In the mean time consumers will continue to spend, yes at a slower rate and yes more and more are losing confidence, but recession isn't defined by "feelings" nor necessarily the current stock market value. Knee jerk reactions are exactly the reason we don't cry out recession at every down turn.
Having said that, the effects on entertainment dollars may prove counter-intuitive. Less may be spent going to the theaters and more spent on cheaper home entertainment. The net effect on home entertainment could be a wash or even small growth. Hard to tell but let's not get reactionary....