Is the recession really ending?
Fed Chairman Ben Bernanke feels that the recession is toward the end.
Though how will the end of the recession look for people who are looking for a job which has caused some financial problems? Bernanke warns that recovery will be slow, though for people who have been unemployed for a while and are trying to make ends met, the recovery can’t come soon enough.
“But the general view of most forecasters is that the pace of growth in 2010 will be moderate, less than you might think given the depth of the recession because of ongoing headwinds including still ongoing financial and credit problems, de-leveraging by households, the needs for adjustments in the economy, sectoral adjustment in the economy [and] the need for fiscal exit at some point,” he said.
Moderate growth is already happening in some sectors. Last Saturday I went to a movie theatre and it was crowded in the middle of the afternoon. Filmmakers must be producing better movies or people are really eager to go to the theatre. I went to this same theatre a few months before and it was not crowded at all. There were more workers working at the multiplex than there were patrons. Saturday things were different, there were long lines for tickets and concessions and more than one cashier for tickets. All of the central concession stands had cashiers and were busy.
The movie theatres are showing some growth, but there aren’t many other places that are showing the same type of growth.
Personally… what would the end of the recession look like to you?
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