Is this -339.22 drop officially a recession...or

[Xenotime]

are we going to continue to fool ourselves?

[OhioChick]

1. The Decider is

Supposed to talk today around 2 or so. Don't Worry, He'll Clear Things up for Us. :sarcasm:

[tekisui]

3. Oh no. His announcement of a *stimulus* package is what sent the

world markets into a panic.

Please don't speak, it will just make it worse.

[DrDan]

4. I have seen the preview . . . he is optimistic . . .

the 'murkins are optimistic . . .

the economy is strong and will survive . . .

just need congress to cooperate . . . . and everything will be fine . . .

[jayfish]

8. OMG!!!!

The market's going to drop another 335. Someone get a ball-gag on that guy.

Jay

[dysfunctional press]

2. the dow isn't what determines a recession.

a recession refers to a contraction in the overall economic growth of the country.

[edhopper]

5. A recession is not about the stock market.

It's about growth (or lack of) in the general economy. In 1987 we had an enormous drop in the Dow, and no recession.
That said, we are probably in a recession now.

[Eurobabe]

6. We're turning the corner....

[TheUniverse]

7. Wow, I just lost 300 dollars

[originalpckelly]

9. 2 business quarters of losses in GDP is a recession in the technical sense.

A 10% or more loss in the stock markets in a period of time is called a correction. Something approaching 20% of losses in the stock market has traditionally been called a crash, but that's less defined and may apply to a large one day loss of valuation.

[L0oniX]

10. Don't worry, be happy. Go out and shop because it's patriotic ...and idiotic.