U.S. Officially In Recession

[lfmusiclover]

According to the following article, it's been (finally!) officially declared that the country is in a recession, and has been since this time last year:

http://money.cnn.com/2008/12/01/news/economy/recession/?postversion=2008120115

The article goes on to say that economists are predicting that the economy will hit bottom in the second quarter of 2009, which means we still have a good while to go before this recession might be over. On the bright side, the article also says that some of the interest rate cuts imposed by the government last year should start helping the economy very soon.

[Gil]

News to me.

[Mike M]

On the bright side, the article also says that some of the interest rate cuts imposed by the government last year should start helping the economy very soon.

Meaning gas prices may rise again.

[lfmusiclover]

On the bright side, the article also says that some of the interest rate cuts imposed by the government last year should start helping the economy very soon.

Meaning gas prices may rise again.

Possibly, but not necessarily. Its going to take a decent increasing in consumption before we see prices rise again, and until the economy starts improving ALOT we're not going to see gas consumption increase very much. Personally, I think the days of $4 gas are gone for a good while.

[Gil]

Gas prices are going to go up anyways.

I read somewhere that sales of SUV's are rising again. How freakin' stupid do you have to be?

[lfmusiclover]

Gas prices aren't going up anytime soon. 

I'd like to know where you read that bit about SUV's. I can't imagine how that could possibly be true.

[tpirfan28]

After the crap the market took today, doesn't surprise me.

Meaning gas prices may rise again.

Current trend is market down = oil down, but watch the USD/EUR currency trade (the one that CNBC uses on their ticker)...a RED means a stronger dollar, which is bad for oil.  GREEN is weaker dollar, stronger oil.

I read somewhere that sales of SUV's are rising again. How freakin' stupid do you have to be?

Class A dumbasses if that's the case.

[Gil]

Gas prices aren't going up anytime soon. 

Gas is a limited supply. It will go up.

I'd like to know where you read that bit about SUV's. I can't imagine how that could possibly be true.

I think it was in the newspaper. I can't remember off the top of my head.

[Localonthe8s]

I hope we don't get another Great Depression. Sounds grim according to the article.

[lfmusiclover]

Gas prices aren't going up anytime soon. 

Gas is a limited supply. It will go up.

I'd like to know where you read that bit about SUV's. I can't imagine how that could possibly be true.

I think it was in the newspaper. I can't remember off the top of my head.

Not as long as demand keeps going down, which it will for quite some time yet. 

[Gil]

Gas prices aren't going up anytime soon. 

Gas is a limited supply. It will go up.

I'd like to know where you read that bit about SUV's. I can't imagine how that could possibly be true.

I think it was in the newspaper. I can't remember off the top of my head.

Not as long as demand keeps going down, which it will for quite some time yet. 

Well maybe, if hybrid-car sales go up. But even those require gas.

[lfmusiclover]

Gas prices aren't going up anytime soon. 

Gas is a limited supply. It will go up.

I'd like to know where you read that bit about SUV's. I can't imagine how that could possibly be true.

I think it was in the newspaper. I can't remember off the top of my head.

Not as long as demand keeps going down, which it will for quite some time yet. 

Well maybe, if hybrid-car sales go up. But even those require gas.

Has nothing to do with that. People simply aren't traveling as much, because they have less money to spend.

[Gil]

Gas prices aren't going up anytime soon. 

Gas is a limited supply. It will go up.

I'd like to know where you read that bit about SUV's. I can't imagine how that could possibly be true.

I think it was in the newspaper. I can't remember off the top of my head.

Not as long as demand keeps going down, which it will for quite some time yet. 

Well maybe, if hybrid-car sales go up. But even those require gas.

Has nothing to do with that. People simply aren't traveling as much, because they have less money to spend.

Hmm didn't think of that. I didn't know that such a considerable amount of people were driving less.

[lfmusiclover]

Gas prices aren't going up anytime soon. 

Gas is a limited supply. It will go up.

I'd like to know where you read that bit about SUV's. I can't imagine how that could possibly be true.

I think it was in the newspaper. I can't remember off the top of my head.

Not as long as demand keeps going down, which it will for quite some time yet. 

Well maybe, if hybrid-car sales go up. But even those require gas.

Has nothing to do with that. People simply aren't traveling as much, because they have less money to spend.

Hmm didn't think of that. I didn't know that such a considerable amount of people were driving less.

From what I've heard it has indeed been a pretty considerable drop. That was one of the key things that spurred this huge price drop. 

[texasstooge]

Caught on, have they? What the heck took them so long to admit it?