The market will continue to go up as long a Business continues to shed jobs and sell off inventories.And we are in a so called earning season which all standards are a dead cat bounce.

But when reality sets in...

The chart below is the real kicker it shows the same path as the last great depression.The jobs are the key . much of what we see in the market is the temporary stimulus the Government has put forth,its just temporary tho.

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Originally posted by DailyBuzz

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Originally posted by popinjay

One thing I do try to do is keep things in perspective. Wall Street is a big indicator because that's how businesses are maintained. If the stocks remain buoyant (as they have been now for weeks), that is an indicator. If home sales rise that's another. This recent information could/could not be one of the final pieces (slowing down of the recession) but taken in total, it has to be considered.

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Oh, for sure, perspective is key. All aspects are appearing to be a steady recovery. I've just been keeping the extended benefits in the back of my mind for a few months. When this news broke, somewhat unexpectedly, my initial reaction was to wonder if the extended benefits were starting to expire. I just don't want to get overzealous and lose sight of the half a million people who will be receiving no paycheck at all within 30 days (unless job growth is robust and they can get back into the workforce).
 
With the market reacting the way it is, I'm definitely leaning toward great news. Still, the other shoe drops for 500k people in September. The administration better get to spending some stimulus.

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I'm keeping my eye on the foreclosures. If the benefits start to have a huge impact and no new jobs are being created then we'll start to see a rise again.

My initial thought is that they will go up a bit (since they follow jobless claims like jobs follow the recession) but given the Wall Street indicators and what they are actually investing in, things do look up.

It's not just that the market is promising, its what the "wheeler dealer guys" are investing in as well. A few months after the Cash/Clunkers we'll see what develops overall. Should be pretty good now that they have another round with twice as much cash for it this time.

And you are SO right about them getting to spending more of that stimulus. I only wish Obama hadn't listened to the naysayers earlier and did what Krugman and a few other economists urged: spend MORE because he wasn't spending enough.

news.in.msn.com/international/article.aspx

Washington: US economists are generally agreed that America's worst economic downturn since the Great Depression is over, but an average American is unlikely to feel things are significantly better anytime soon.

The Wall Street Journal's survey of top economists, published Wednesday, found that 57 percent believe the recession is already over, while another 23 percent believe that the economy will turn in the next month or two.

Most economists now expect growth in the gross domestic product, the broad measure of the nation's economic activity, of about three percent or more in the period of July through September.

But the National Bureau of Economic Research (NBER), the body of economists charged with officially setting the start and the end of each recession, won't pronounce a start of the recovery until next year at the earliest, CNNMoney.com said.

Its statement that the 2001 recession ended in November of that year didn't come until 18 months later, it noted. Its pronouncement that the current recession had started in December 2007 didn't come until 12 months after the start. So by the time the NBER says anything about a recovery, it will already be well established.

The closest to an official pronouncement of the end of the recession came in the statement from the Federal Reserve Wednesday that it sees the economy as "levelling out" following its long decline.

I'm sorry, but statements from the Federal Reserve do not, and will not ever, count as factual. It is one of the most manipulative organizations in US history, probably the most deceptive of all.

I highly doubt its over. MSM wants people to believe its over probably because corporations want people to think they need to go out and spend money(they probably don't have) again, to stimulate profits. I've been watching a lot of Peter Schiff lately. He seems to be the only person in the country that knows whats really going on. Most of the MSM analyzers and commentators seem to only see about 1 week into the future instead of the long run.

Over,  maybe.  Even if it is it will be several months before any lower/middle class notice a difference.

Recession may be over, yes.  But people don't understand some basic things about job loss, stock market, and home sales.  When companies downsize and cut employees, they cut cost and therefor they are able to make money.  A lot of the stocks are up because companies are making money again, but their line also hit the bottom due to cutting so many jobs.

Banks are making money because the government gave them trillions of dollars at literally 0%, while they are loaning the money out at 5%.  Anybody with slight intelligence can realize you can make money when given 0% interest while loaning that money out at 5% interest.

Home sales are up, I hope so since many of them have hit rock bottom prices.  But I sure hope the people buying homes are people that CAN afford it.  This way we won't have the same exact problem occurring in 10 years....again.  I will say now is a good time to buy homes if you can afford it.

So while the recession may officially be over, it doesn't mean things are all of a sudden going to get better for the 15 million people without jobs, and that our country is magically going to get out of debt.