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Not quite but it really feels like it to many, many people. The global recession and the national recession in the US officially came to an end in June of 2009 but no-one would really seem to know it. While the stock market has recovered somewhat the average investor is largely staying away from the markets because they same stacked against the individual investor.
The U.S. economy has been terrible since 2006. Yes, the official recession began in 2007 but property values, which led to the recession, began to decline in mid 2006. While gross domestic product or GDP began to show some growth this year and thus ending the recession, this growth has been revised downward several times.