US Recession over.

Recession in the US has come to an end as  US GDP increased in the third quarter. The US saw an expansion of 3.5 per cent between July and September according to figures from the US Department of Commerce.

The US growth follows recent news that Japan, China, Germany, and France have all climbed out of their recessions. The UK may now be the only top economy to remain officially in the slump. Just a reminder of what a ‘recession is’, its two or more quarters of negative or stagnant GDP.

The Obama administration stated that the news is a “welcome milestone,” but stopped short of celebrating a complete recovery. The ‘end of a recession’ is exactly that, a milestone, it doesn’t undo the damage but it is the first step on the road to recovery the issue now will be one of continuing on that path.

The American stimulus packages rolled out this year are probably a major catalyst to the quarter’s growth – increasing consumer spending which the US economy is so reliant …

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Economic data in the US as of March 30th 2009 with Robert Schiller

Robert Schiller talks about the current US economic situation, he is also one of the first to publicly talk about the great rip-off which was rule 6102, this was when the US confiscated gold while devaluing the dollar via a changed gold standard (essentially defaulting on the previous debt promise that was represented by the dollar).

He talks about the debt consequences of the current US economic trajectory, the figures are not good. The upside risk of inflation will increase over 2009 as monetary policy solutions start to play through the real economy.

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