Comments

1. Robert Says:
   June 9th, 2008 at 2:53 am

   A recession is defined as 2 consecutive quarters of negative GDP growth. We haven’t had the 1st one yet.

2. uuv Says:
   June 9th, 2008 at 5:20 am

   Is there a place to rent Ferrari?
   How much is it per day?

3. Jerry Dill Says:
   June 9th, 2008 at 8:39 am

   I love getting paid to drive cars. Especially to test drive a sports car. I should look into this…

4. MattG Says:
   June 9th, 2008 at 9:49 am

   If it looks like a duck, sounds like a duck and walks like a duck…. well then… I mean the hard data may not be in yet… and a recession can never be called until many months after it has started. That’s not to say that current economic conditions don’t feel like a recession to many. You might walk out the door, when the wind is blowing and the temperature is 33 degrees, and observe to a friend: “Wow, it’s freezing out here today.” And we wouldn’t say you’re wrong, the weatherman won’t use the word “freezing” until the temperature is 32 degrees or lower.

   Unfortunately, measuring the health of the economy takes a little longer than looking at a thermometer. Because of the time involved in collecting and analyzing economic data, it’s very possible to be well into a recession before the numbers confirm it.

5. saladdin Says:
   June 9th, 2008 at 11:07 am

   At $4 gas and inflation going up and up can we just do without the “know it all’s” trying to look smart by trying to define what a recession is?

   saladdin

6. Jonathan Says:
   June 9th, 2008 at 11:35 am

   A recession is when your neighbor loses his job. A depression is when you lose yours.

7. Mike M Says:
   June 9th, 2008 at 1:23 pm

   It’s like the 60’s /70’s all over again. The Ford Mustang, the new Chevy Camero, Dodge Challenger… More than happy to test drive these machines.

   Thanks Jonathan!

8. Robert Says:
   June 9th, 2008 at 2:47 pm

   I don’t claim to be a know-it-all, but I do know that a recession is defined by 2 consecutive quarters of negative GDP growth. I didn’t pull the definition out my rear end. saladdin, next time I give the actual definition of an economic term I’ll make sure to preface it with “I’m not trying to look smart or like a know-it-all but…” Will that make you feel better?

   MattG, you make good points. My whole thing though is can we at least wait for 1 quarter of negative GDP growth before everyone starts yelling “recession”. Right now it is very right to call what we are in an economic slow down or a correction but calling it a recession is WRONG by definition. News outlets love to throw the word around to catch the attention of people but I decided to put the real definition out there for those who wanted to know.

9. Jonathan Says:
   June 9th, 2008 at 8:50 pm

   I never took economics past high school. Wikipedia on Recession:

   In macroeconomics, a recession is generally associated with a decline in a country’s real gross domestic product (GDP), or negative real economic growth. According to one widespread definition, a recession occurs when real growth is negative for two or more successive quarters of a year. However, there are differing definitions: In the United States, the National Bureau of Economic Research’s (NBER) Business Cycle Dating Committee ultimately decides whether the economy has fallen into a recession. The NBER does not use any specific methodology for determining the start and end dates of a recession - instead it looks at a variety of economic indicators over various time periods and determines whether to declare that the economy is in a recession based on those data.

10. shrazzy Says:
    June 10th, 2008 at 2:36 am

    I say Stagflation–price inflation combined with slow-to-no output growth, rising unemployment

11. saladdin Says:
    June 10th, 2008 at 4:09 am

    I give the actual definition of an economic term I’ll make sure to preface it with “I’m not trying to look smart or like a know-it-all but…” Will that make you feel better?

    Yes it will. I’ll be waiting to see if you really do it.

    saladdin

12. Robert Says:
    June 11th, 2008 at 12:00 pm

    Saladdin,

    I won’t really do it. If you think I’m trying to be a know-it-all then that’s your problem as I don’t claim to be one.

    Regards,

    Robert

13. Robert Says:
    June 11th, 2008 at 12:01 pm

    “In the United States, the National Bureau of Economic Research’s (NBER) Business Cycle Dating Committee ultimately decides whether the economy has fallen into a recession.”

    You’d think the media decided when we were in a recession.

14. Mike Says:
    June 11th, 2008 at 1:34 pm

    Recessions are all well and good. Has anyone actually driven the car and gotten paid for it?

15. A guy Says:
    June 13th, 2008 at 11:46 am

    Does anyone know if you can just walk into one of these approved dealerships and ask about it? or do you need a form, like most of these?

    thanks,

16. Frugal Canadian Living Says:
    June 14th, 2008 at 7:02 am

    Even in a recession there will still be people with money buying expensive cars. Last year 55,000 Hummers were sold, even though a Hummer only gets 9-13 MPG.

17. Room 1508 » Blog Archive » 30 Creative Date Ideas That Don’t Cost A Lot Of Money Says:
    July 7th, 2008 at 11:03 pm

    […] just go for long drives together. Cars can still be romantic, though, and it’s a lot of fun to go test drive luxury vehicles that you’re not really going to […]

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