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Man with $191,300 job pronounces recession over

Ben Bernanke says the recession is over. Isn’t that great? And only a year after the entire economy melted down. Sure am glad to hear it, aren’t you?

Not to gainsay an august presence like the chairman of Federal Reserve Board, but… I’ll believe it when I see people going back to work. An unemployment rate of something over 9 percent does not an “over” recession make. IMveryHO, that is.

I’ll believe it when the local schools stop cramming 50 kids into each grade-school classroom.

I’ll believe it when the Department of Public Safety stops talking about laying off more police officers.

I’ll believe it when the City stops laying off essential workers.

I’ll believe it when the foreclosures stop and people are no longer being thrown out of their homes.

I’ll believe it when the value of the house my son and I bought at what we then thought was the bottom of the real estate collapse returns to the “bargain” price we paid for it.

I’ll believe it when my income rises to cover the ballooning costs of taxes, insurance, and utilities.

I’ll believe it when the Dow rises above 10,000 and stays there.

Easy to say the recession is over when you have a job with a six-figure salary. Not so easy when you’re in the trenches, still living the recession.

3 thoughts on “Man with $191,300 job pronounces recession over”

    • @ frugalscholar: Yes, I secretly admire the man, too. And I do understand that Wall Street will recover before Main Street, and that the manifestations of recovery may not be visible to the hoi poloi for quite some time. Still…given the level of suffering we’re seeing in this country, it’s hard to imagine how the recession can be declared “over” until we see some real improvement in the average person’s prospects.

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