Global Recession - Is it really Over?

[Pinalli]

The Central Bankers of the world met this past weekend in Jackson Hole, Wyoming. Known for hoards of Deer, Elk, hunters and hamburgers, this relatively small frontier town became the center of the financial world for a few days – and will be widely remembered from this day forth as the place in which the global recession was officially declared over.

Just don’t tell those 14% of industrialized workers who are without work, don’t tell those farmers who are selling items at 2/3rds less than what they were last year because of trade restrictions, and don’t tell the Central Bankers themselves, because in the end – the meeting and declaration was more politically motivated than factually motivated.

Jean-Claude Trichet, the EU Central Bank President, gave a speech that can be defined as optimistic, or if you are one of those protagonists, you could have derived a negative message from him.

Ben Bernanke who heads up the US federal reserve was chipper and growth focused in his remarks – notwithstanding the actual numbers, he used words like “I feel” and “in my opinion” to describe the economic recovery – terms usually reserved for politicians and not numbers oriented Central Bankers. Good for him though as President Obama rewarded him with another term as Fed chairman for his efforts.

The Forex marketplace this week has been slow and light, most everyone is off in some vacation spot, perhaps hunting Deer and Elk or eating burgers. Forex traders have not been moving the markets these past few days – and neither has any news for the most part.

The summer is winding down, quarter 4 is around the corner and the world is anxiously awaiting something to happen. In Europe, Germany’s growth and true recession exit is marred by the other EU countries that are still suffering double digit unemployment and negative growth.

In the US everyone, including the politicians and policy makers are on vacation, trying to regroup and figure out how to spend another Trillion Dollars that they don’t have on a healthcare package. And in China, they are selling their Dollars (shhhhhh).

[alessio09]

Today finance ministers of G20 countries meet in London to discuss the current state of economy and further prospects of its recovery from the worst recession since World War II.
U.S. Treasury Secretary Timothy Geithner says a meeting is an opportunity to discuss what is done and what is still needed to pull the global economy out of one of the deepest recessions in decades.

[Pinalli]

Originally Posted by alessio09

Today finance ministers of G20 countries meet in London to discuss the current state of economy and further prospects of its recovery from the worst recession since World War II.
U.S. Treasury Secretary Timothy Geithner says a meeting is an opportunity to discuss what is done and what is still needed to pull the global economy out of one of the deepest recessions in decades.

This week has been a strange and yet interesting week on the Forex Trading arena. The volume has been incredibly light, due to end of summer festivities in the US and Canada and Western Europe, however the flow of data and information has not ceased.

[aamattsmith]

Hopefully the recession is at least winding down and we can all get back to making money soon

[JHayzament]

Recession will not be over until we see sustained improvement in housing and consumer spending numbers.

[Pinalli]

yeh!! Even if the economy spends another two years in depression, the value of the Sterling can be stable based on their reserves. I am not a fan of the British economic policies and I do believe that the ease in which they have gone about spending citizen funds on bailouts has contributed to their situation, but I must respect the almighty Sterling – it has for a long time, and will for a long time to come, be worth every penny (or should I say quid?).

[SmartForex]

There are many key factors need to be analized before we can say anything about end of recession. I found a good article here ;

http://www.marketoracle.co.uk/Article13370.html

[jimb12345]

i think the recession has definitely hit bottom. There are some good signs in future. Will have to wait and see.

[neilboso]

the recession might be over, yeah? The current recession, that some say is the worst since the Great Depression, is not over. According to predictions by economists, it is likely to last well through 2009.

[aaronra100]

thanks for the information guys......