The Recession is Over!

Alright, maybe that is a more strongly worded statement than the "recession is very likely over" comment we received earlier this week but I'm pretty sure that my title is closer to what we were actually supposed to think. Contrary to whatever the Federal Reserve Chairman might think, many people are not lining up on this topic. According to a Slate piece run today (by my much beloved Emily Bazelon), a lot of people just don't think the recession is very likely over.

To be fair, Bernanke didn't stop at that comment. He did admit that the economy will still feel very weak for awhile and that economic growth in 2010 will only be "moderate."

Don't put your party hats away just yet. It may not be a bacchanale inducing victory but I think we all admit we have to start somewhere.

For me, the biggest, loudest, most obvious sign of the recession was my job search. I admit, I am not currently looking (I've got to give the new position a few weeks at least!) and as such, I feel pretty insulated from the whole economic downturn. All of my friends who lost jobs in the last year are employed again (as far as I know) and I'm not trying to sell my house, find a new job, etc. etc.

What do you all think? Is the recession waning?

Click here to read the piece on Slate

Click here to read the MarketWatch coverage of Bernanke's speech