You don't see the job openings you used to see before the recession. I have a four year degree and businesses look at that like a high school diploma. They want a degree AND years of experience, and you need to know someone to get a $40,000 a year job...
Surely it is you people who 'hold back' from spending because of your fears when you fear what the world thinks - that causes lack of economic growth. Break out of it, break out of yourself, free your mind. Stop watching the news, have you ever noticed the news is always so morbid. Does one enjoy that? Be new, be a part of the belief that the recession is over, be a part of making the world a better place. When there is a sense of community in what is called 'civilised society' I will believe people in civilised society can actually think with their hearts and not their heads. We blame things on our governments, but can you blame them when they have to keep us bunch happy, this bunch who 'think' but do not 'know' that they could do a better job?
Don't wait for war, don't wait for things to get worse, don't wait for your neighbour to love you. Be that which you want to see. I do not think we are out of recession, I know it - without any reasoning. Intelligence isn't everything, I trust my intuition. Sound logic is often criticised unless 'everyone else' agrees with it. :-)
The first opinion I came across instantly disproves his/her stance on the question. 'The overall condition of the world's economy has improved to where it cannot be classified as recessionary.' You sir are not very bright.
Recession is characterized by two straight quarters of decreased GDP. The world GDP has steadily increased since the 2009 recession. Therefore, it is no longer classified as a recession. Speculating that the world economy might once again fall into recession is just that, speculation, and irrelevant to the debate topic.
All other answers are simply wrong. This is not a debate.
Like a game of Monopoly, we have seen the majority of the world's population slowly drop out of contention for a share of the world's wealth leaving a metaphorical two to see who is the ultimate winner. Unfortunately we are not in a game and we need to stop the gamesters from destroying the fabric of our societies.
I still see vacant buildings and unemployed people everywhere... And it continues to climb... This is just another political agenda to make us feel like their plan is working when in reality this country is going to continue to fall into poverty as we import every little bit of material crap that we can.
Quantitative easing buys time in which the GDP SHOULD RECOVER. This is a big gamble because if GDP does not grown QE has dug an even bigger hole in which to fall. Further the false reality QE creates can lead to short term ruinous speculation - repeat 2007. There is more but this is enough to worry any sane investor.
According to the study, mid-wage jobs such as construction trades, manufacturing and office employees accounted for 60 percent of the employment drop during the recession but made up just 22 percent of the recovery through March 2012. So-called low-wage jobs like retail and food service workers made up 21 percent of the losses but 58 percent of the subsequent growth. By Robert X. Cringely
While the overall condition of the world's economy has improved to where it cannot be classified as recessionary, the state of the countries of the European Union (EU) and China show that the recessionary press is still very strong. The EU and China both are predicting that their Gross Domestic Product (GDP) will increase at a rate to support their population growth. This is a giant push back into recession for these countries and the world economy as well.
The end of the worldwide recession is still a long ways away. Unemployment is still high, Wall Street and financial institutions still have little oversight, high income inequality still exists, large government debt still exists, and high tax burdens on the middle and lower classes will continue to keep spending low. Without increased demand for product and services, the worlds economies will not improve. In addition, the failure to achieve any real solutions to the recession, by politicians, means there is little chance of change.
Just because a place is starting to recover, doesn't mean that it's over. There are hopeful signs, but there is still a long ways to go. Many people are still out of work and struggling, and even those working are still afraid to spend, which is extending the economic downturn even further.
The worldwide recession that hit global markets in 2008, may have reached a plateau in the last 3 years, but now seems poised to enter a second phase of collapse. With the US government on the brink of defaulting on its 14 trillion in loans, and the European community grappling with defaults in Greece, and potentially Italy and Spain, it seems that the last 3 years have only postponed the worldwide monetary problems of debt. Previous solutions, such as governments infusing their countries with money from a central treasure, are now no longer viable options and seemed to have only postponed the inevitable. New solutions and approaches must be considered to begin rebuilding the economies worldwide.
Not only is the worldwide economic recession not over, it is, at best, only half over. With some countries in the EU almost bankrupt, and Greece in bankruptcy, it looks very bad. In the U.S., we have been on the slide for the last three years, and it does not look optimistic for the next few years. So, we are still in for a hard ride.
I have learned through my study of economics and economic analysis that most models of the macro-economy have very little predictive value. A model today can tell us why something happened in the past, but is unable to predict the future with 100% accuracy. All we can do is hope, and invest in a growth-minded direction.