Hi Lev, I understand the definition of a recession. I simply said it hasn't necessarily yet been avoided. We may still yet fall into recession as a direct result of the GFC. We avoided recession immediately resulting from the GFC, but the US government is still "printing money" to keep their market afloat. Interest rates are being deliberately kept low so the government can afford its debt. It won't take too much vibration in the US for confidence to go through the floor again. Michael On Thu, Nov 6, 2014 at 12:40 PM, Lev Lafayette <lev@levlafayette.com> wrote:
On Thu, November 6, 2014 12:25 pm, Michael Scott wrote:
The coalition left the Labor government in a position in which it could avoid a recession. The recession hasn't yet been avoided.
A recession is usually defined as two consecutive quarters of negative real GDP growth. Australia was one of the very few countries in the world, and I believe the only one in the OECD, that did not suffer a recession. This is generally attributable to our financial stability and fiscal stimulus, despite being an export orientated economy.
http://www.treasury.gov.au/PublicationsAndMedia/Publications/2011/Economic-R...
-- Lev Lafayette, BA (Hons), GradCertTerAdEd (Murdoch), GradCertPM, MBA (Tech Mngmnt) (Chifley) mobile: 0432 255 208 RFC 1855 Netiquette Guidelines http://www.ietf.org/rfc/rfc1855.txt
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