April 7, 2010
Is The Recession Over?
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We heard it about five months ago. The recession is over. They said it on the cover of national magazines. The worst is behind us.
The last eighteen months have been quite extraordinary. There is no doubt that 2008 & 2009 were two of the most tumultuous years the global economy has ever seen. In the last quarter of 2008 and through the first few quarters of 2009, in the United States alone – we saw Bear Stearns close up shop and get “tucked” into J.P. Morgan over a weekend. We saw one of Wall Street’s most “conservative” and long standing institutions - Lehman Brothers go bankrupt. We saw more than 100 (with a “B”) billion dollars in taxpayers money get slugged into AIG, the world’s largest insurance company in order to keep it liquid and afloat. We saw the once mighty General Motors get pushed into and out of bankruptcy by the federal government and the hits seemed to keep on coming - daily.
When all hope appeared to have been lost. When Bank of America was trading at $5 per share, Citibank for under $1, General Electric - $6 – something strange happened. The clouds began to break. The rain stopped for a moment and a ray of hope shined through. The market seemed to sense that the end of the financial world as we knew it, was not upon us and something strange happened… the markets, which flirted with collapse – rallied. They ran and ran and a mere nine months later, landed over 10,000.
Wow!
Now, we find ourselves just finishing up the first quarter of 2010 and it’s been about five months since the “experts” came out to say that the recession was over.
We want to know what you think. Is the recession over? Is the worst behind us? Will our markets continue to surge? Will unemployment bottom once and for all? Will jobs begin to be created?
We want to know what you think. We’ve talked and will talk again – about contact lenses and lens solutions and the effects of UV light on eyesight and sunglasses and more but for today, we want to hear what you have to say.
Let us know your thoughts. Hit us with a comment or two, vote on our poll and let us know what you really think.
Comments(7)
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In a recent Pew Hawkins Survey taken on college campuses a variety of trends emerged. .jpg)