Apparently the economy is starting to stabilize, and the recession may starting to be finally over.
The "Bush Recession" may finally be coming to an end, reports both CNN and FoxNews. Economists are putting the start of this recession at December 2007 (as much as the Obama-deranged would like to blame our current President of eight months).
NEW YORK (CNNMoney.com) -- Stocks sustained gains Wednesday after the Federal Reserve held interest rates near historic lows and signaled the economy has finally started to stabilize.
FOX NEWS: Economists date the start of the recession to December 2007 -- defining much of Ben Bernanke's term as Federal Reserve chairman -- and a majority in a Wall Street Journal survey agree that the recession is coming to an end.
As much as I disliked the bailouts and stimulus package, I have to say, they may have worked.
FOX NEWS: However, in the current recession, companies have been using the productivity gains to bolster their bottom lines in the face of declining sales. Many companies have been reporting second-quarter earnings results that have beaten expectations despite falling sales, due largely to their aggressive cost cutting.
So we are going to start seeing the economy move up for once. Thankfully.
But CNN warns:
"The Fed reinforced what investors already knew, that the economy has gotten a little better," said James Barnes, fixed income portfolio manager at National Penn Investors Trust.
"But until we see more news that either reinforces the belief that the recovery is here or says we've gone too fast too soon, you're not going to see a bigger reaction."
Hopefully this will mean that we'll be fully recovered within a year. If that is the case, I don't know if 2010 will look too good for Republicans.
If it takes longer, 2010 won't look good for Democrats.
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