The newspapers have been lying to you, folks.
"Recovery a mirage for most, poll finds; Survey suggests few feel recession over" by Robert Gavin, Globe Staff / November 21, 2010
More than three-fourths of Massachusetts residents surveyed say the recession has not ended, a compelling sign that benefits of the 17-month economic recovery have yet to reach a vast number of households, according to a Suffolk University/Boston Globe poll.
That means THERE HAS BEEN NO RECOVERY!
Although the recession officially ended in June 2009, the poll portrays Massachusetts families as struggling with layoffs, uncertainty, and diminished circumstances.
Of course, that is the same media that hid the beginning of it for 10 months. Now they tell us we are out of it. I suppose if you are a banker or war-profiteer you are.
Many said they are spending less, saving less, and expecting to work longer before they retire.
I don't expect a retirement and never did.
The reason most frequently given: “No money.’’
And they don’t expect conditions to get better any time soon. More than half said the recession would last at least another two years. More than 60 percent said neither the re-election of Governor Deval Patrick nor the Republican ascendancy in Congress would help the economy....
Translation: we know politics is bulls***.
The survey of 400 Massachusetts residents, conducted early last week, portrays a recovery that economists have described as a painful slog. In some ways, the results help explain why it is taking so long to gain traction.
Among the components still missing from the recovery, economists said, is confidence that the economy is on solid footing — the kind of confidence that leads people to buy big-ticket items like houses and cars, and prompts businesses to hire. “So much of this is psychological,’’ said Barry Bluestone, dean of Northeastern University’s School of Public Policy and Urban Affairs.
Yeah, you are just imagining there is no more brightly-colored paper in your wallet.
In the poll, fewer than a third of residents said they expect the economy to get better by the end of the year. More than two-thirds said they were concerned about maintaining their standard of living. One in four said they were very concerned.
Jennifer Tan, 25, of Quincy, said she’s worried about her parents. Her 60-year-old father was laid off as a fork lift driver a year ago, and now her parents are trying to get by on his pension.
“I don’t know how long they can live off the pension,’’ said Tan, who works for a nonprofit in Brookline. “As a person who is not an economist, a person living in the recession, I certainly don’t think its over.’’
Economists said it’s not surprising that people feel that way. Technically, a recession ends when the economy hits bottom and starts to grow again. Conditions may get better, but they can still be bad.
In Massachusetts, for example, the unemployment rate has fallen more than a point since the beginning of the year, and employers have added nearly 50,000 jobs, according to state statistics. But joblessness remains historically high at 8.1 percent, with nearly 300,000 residents still out of work. Despite recent employment gains, Massachusetts still has about 120,000 fewer jobs than when the recession began here in the spring of 2008.
“There’s a lot of reasons for people not to feel confident: high debt, tight credit, the losses they suffered in the recession,’’ said Nigel Gault, chief US economist at IHS Global Insight in Lexington. “It’s going to be very difficult to get people to feel confident unless we make some progress on those problems.’’
Many people, meanwhile, are still feeling the losses of the recession, according to the poll. One in six households experienced job losses over the past 18 months, and nearly 60 percent of them still include someone who is unemployed. More than half have been out of work for at least six months.
Many people, meanwhile, are still feeling the losses of the recession, according to the poll. One in six households experienced job losses over the past 18 months, and nearly 60 percent of them still include someone who is unemployed. More than half have been out of work for at least six months.
Ken Boostrom, 50, of North Dighton, finally found a full-time job last week, seven months after the recession put his advertising firm out of business. Boostrom, the father of two teenagers, strung together contract work, but his earnings over the past year plunged to $37,000 from the $140,000 he once made. Meanwhile, he burned through one-fourth of his savings and ran up $8,000 in credit card debt to make ends meet.
That's not me. I've never seen 30k/year in my whole life and my savings are gone.
Related:: Wall Street Pay: A Record $144 Billion
Hey, at least they are having a good year!
Thanks for the bailouts, America.
“The economy crushed me,’’ he said. “Actually, crushed my clients, then it crushed me.’’
Boostrom blamed the recession on the risky practices of large banks, and called for more regulation.
Yeah, WE ALL KNOW the TRUTH out here!
Thirty-five percent of residents surveyed said the best way to boost the economy is to cut government spending. Just under 20 percent said the government should increase spending, while 25 percent said it should cut taxes....
Sixty percent of the public taking TEA Party positions, huh?
Makes you wonder how question 3 was so soundly defeated and how Democrats swept this state, doesn't it?
Despite the gloomy outlook, the poll did find some bright spots....
I'm tired of the Globe shining up a s*** and searching for corn kernels in a turd.
--more--"
Related: Few plan to spend more this holiday, poll says
And I won't be doing my part. I was thinking of just giving cash this year.
That is what my family members really need, more so than some meaningless and worthless clutter taking up space in the house.
