Comments on: Recession Is Just About Over, But Norwalk Faces Challenges

By: turfgrrl

turfgrrl — Tue, 09 Feb 2010 23:39:01 +0000

anonymous25: Well calling something a recession is a technical term. You can call it a bad economy, or whatever, but the standard definition of a recession is:
The standard newspaper definition of a recession is a decline in the Gross Domestic Product (GDP) for two or more consecutive quarters.
This definition is unpopular with most economists for two main reasons. First, this definition does not take into consideration changes in other variables. For example this definition ignores any changes in the unemployment rate or consumer confidence. Second, by using quarterly data this definition makes it difficult to pinpoint when a recession begins or ends. This means that a recession that lasts ten months or less may go undetected.

Recession: The BCDC Definition

The Business Cycle Dating Committee at the National Bureau of Economic Research (NBER) provides a better way to find out if there is a recession is taking place. This committee determines the amount of business activity in the economy by looking at things like employment, industrial production, real income and wholesale-retail sales. They define a recession as the time when business activity has reached its peak and starts to fall until the time when business activity bottoms out. When the business activity starts to rise again it is called an expansionary period. By this definition, the average recession lasts about a year.

By: anonymous25

anonymous25 — Tue, 09 Feb 2010 17:59:06 +0000

Thanks for your response Turfgirl but let’s not sugar things with technical terms, we are still in a recession and it is getting worse. More and more people are out of work and dropping off the governments radar screen; and how about the self-employed person. No one has addressed their fate. They don’t get the pleasure of being on any “unemployment line” for assistance.

Our govt is spending massive amounts of money they (we) don’t have. The dollar will is losing its value daily, banks are NOT lending money to potential home buyers; superinflation is right around the corner… what will the technical term be for the days ahead? Someone will find one!

By: BLARNEY

BLARNEY — Tue, 09 Feb 2010 15:02:29 +0000

YEP! The recession is over, you can tell by the rampant inflation as people spend all the disposable income they have hidden for the past 2 years. Banks lend hundreds of millions to home buyers, the local papers list dozens of “Help wanted” ads. Merchandise is flying off the shelves at an alarming rate, and business is booming.

GOOD TIMES ARE HERE AGAIN…

Even the laws of physics are called into doubt at a singularity, but we can say without a doubt that there will be a pot in every chicken………….

By: turfgrrl

turfgrrl — Tue, 09 Feb 2010 14:32:02 +0000

anonymous25: Looking out the window it appears to be sunny and warm, but the weather reports say it is 30 degrees out there. Hrmm… The point is that an economic recession is a pretty technical term, and whether you look out the window or not, the economy is in fact no longer contracting, and economists say the date that economy stopped contracting was September 15, 2009.

By: anonymous25

anonymous25 — Tue, 09 Feb 2010 14:11:44 +0000

According to your article the recession ended on Sept 15 2009. I am just making sure that is what you said. When I look out the window it sure seems as if we are still in a recession. Maybe you should step away from the computer for a few minutes and take a walk outside.

By: anonymous25

anonymous25 — Tue, 09 Feb 2010 14:09:26 +0000

I don’t know any nurses, teachers, etc… who are in affordable housing. Most of them live north of here where it is more affordable. Affordable housing is mostly associated with those on public assistance like Section 8 and other social services.

By: ENW

ENW — Mon, 08 Feb 2010 19:09:10 +0000

Great letter, Dave.

By: turfgrrl

turfgrrl — Mon, 08 Feb 2010 13:04:59 +0000

Dave Davidson: Good advice to the council, but will they understand it?

By: Dave Davidson

Dave Davidson — Mon, 08 Feb 2010 03:27:30 +0000

In case your readers missed the letter to the editor of The Hour:

To the Editor:

I was very disappointed to read your editorial supporting the action of the Common Council approving the signing of the letter of intent with the owners of the Globe Theatre property. While I fully understand the positive motives of the Council-persons who voted for the resolutions, I think it was a serious mistake. As I said during the public comment portion of the Council meeting:

1) Is it appropriate for the city to borrow $2,000,000 dollars to purchase a property that its own assessors have valued AT LESS THAN HALF that amount?

2) If a property requires re-mediation of approximately $400,000 and one reduces the assessed value by that amount, is it appropriate to pay a property owner almost THREE TIMES, that reduced amount to acquire the property?

3) When negotiations between a developer and a property owner fail to reach agreement, and one party is being unreasonable, is it appropriate for the city to BAIL OUT the property owner and pay the unreasonable demand?

4) And most importantly, does this action by the city set a TERRIBLE PRECEDENT, that when a property owner and a developer are unable to reach an agreement, the city will step in to BAIL OUT the UNREASONABLE party?

While I also am not supportive of the CASUAL use of eminent domain by the city to acquire property for private development, when faced with as UNREASONABLE a price as this is for the Globe Theatre, I believe the City should have considered this alternative.

While I am sure the City will now go ahead with the letter of intent, I am hopeful that the Council will get another opportunity to consider these issues when the report on the re-mediation requirements are defined. Hopefully they will NOT make the same decision.

Respectfully,

By: parklover

parklover — Sun, 07 Feb 2010 22:37:46 +0000

Good article. You are correct-Stamford is filling up its dowtown office and residential space because of the visible signs that the city cares about its quality of life, by not only investing in its transportation infrastructure, but also in its public spaces. It is spending millions in private and public capital on a major new park called Mill River Park, with acres of grass, trees, wildlife habitats, playgrounds, state of the art athletic fields, and revenue generating restaurant, carousel, and skating rink to provide year-round amenities the public wants, and a way to help fund the improvements and maintenance.

And what do we have to offer companies and residents in the way of vibrant open spaces? A completely empty and crumbling Vets Park as our premier downtown open space, basically a deserted waterfront with more geese than people. And a deserted Mathews Park with empty lightpole bases, crumbling infrastructure, and a bathroom thats only open a few months a year.

Why?