<p>[Economy</a> rebounds in 2Q, mostly spurred by exports: Financial News - Yahoo! Finance](<a href=“Yahoo Finance - Stock Market Live, Quotes, Business & Finance News”>Yahoo Finance - Stock Market Live, Quotes, Business & Finance News)</p>
<p>Continue the wailing.</p>
<p>There wasn’t a recession and there won’t be one either. Watch how much more positive the economic news will be if Obama gets elected - magically everything will be ok.</p>
<p>We have a bifurcated economy. One portion, homebuilding, domestic consumer goods, banking, mortgage, insurance, finance has been taken to the woodshed and beaten to a pulp.</p>
<p>Meanwhile high-tech companies, companies that do a lot of exporting and selling services to other countries have been generally pumping out profits. You can see it in how stocks are doing and which sectors have been killed and which sectors have been stable. It’s been a big contest to see if the weakness related to the consumer and banking would drag down the exporting companies. The weaker dollar has certainly helped but many of our companies are top-tier in the world.</p>
<p>It still isn’t clear to me which direction is going to win but right now, there are winners and losers. I think that it will take the homebuilding/finance/domestic consumer economies years to recover from the excesses of the recent past.</p>
<p>That said, I noticed that the Computer Science enrollments were up 20% at my son’s school.</p>
<p>“Watch how much more positive the economic news will be if Obama gets elected - magically everything will be ok.” - You got that one right! </p>
<p>There has not been a recession which is 2 Q’s of negative growths. Everybody screaming about it still does not make it truth. People have short memories about Carter’s time. Well, I guess, if we have never complained about that, then we deserve to have it back. And back it will come and it would be called Obama’s prosperity era. I am “looking forward” to this times. Good thing is that my company is owned by Japanese. Just maybe I have a better chance of keeping my job in a next few years while paying my D’s tuition.</p>
<p>“We have a bifurcated economy. One portion, homebuilding, domestic consumer goods, banking, mortgage, insurance, finance has been taken to the woodshed and beaten to a pulp.”</p>
<p>Actually it was self-inflicted. Idiots.</p>
<p>It’s now official: we’re in a recession, and we’ve been in one since December, 2007: [U.S</a>. entered recession December 2007, panel says - Yahoo! News](<a href=“http://news.yahoo.com/s/nm/20081201/bs_nm/us_usa_economy_recession_2]U.S”>http://news.yahoo.com/s/nm/20081201/bs_nm/us_usa_economy_recession_2)</p>
<p>"The NBER does not define a recession as two consecutive quarters of decline in real gross domestic product, as is the rule of thumb in many countries. Instead, it looks for a decline in economic activity, spread across the economy and lasting more than a few months.</p>
<p>The current downturn was particularly tricky to define because gross domestic product remained positive until the third quarter this year. The NBER said its committee looked at payrolls, which peaked in December 2007 and declined in every month since then, as well as real GDP and other data series to determine when the recession started.</p>