"Today's job data reflects the fact that our economy is in a recession," Bush said.
DUHH!!
Friday, December 5, 2008
Monday, December 1, 2008
IT'S OFFICIAL: Recession since Dec'07
CNNMoney reports:
The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy .
'NUFF SAID! I was right, Bush was wrong...and bad...and thankfully gone. Now if we could just ditch the Fed!
The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy .
'NUFF SAID! I was right, Bush was wrong...and bad...and thankfully gone. Now if we could just ditch the Fed!
Tuesday, November 25, 2008
I'm Back...and boy was I right...
Events of past six months bear out my recession prediction. Fed and the Bush Treasury screwed up big-time, and all Americans will pay the price for years to come; most affected will be the foreclosed and bankrupted, but individual taxpayers and 401K/IRA retirees also got whacked.
Thank Heaven the electorate realized it needed Obama more than four more years of GOP mismanagement!
Thank Heaven the electorate realized it needed Obama more than four more years of GOP mismanagement!
Monday, April 14, 2008
Oof, maybe not so short!
CNNMoney:
"We have a deadly combination of commodity price inflation and credit contraction," said University of Maryland economics professor Peter Morici. "It's tough to imagine a worse combination. In a worst case scenario, the recession could last several years."
"We have a deadly combination of commodity price inflation and credit contraction," said University of Maryland economics professor Peter Morici. "It's tough to imagine a worse combination. In a worst case scenario, the recession could last several years."
Friday, April 4, 2008
Recession:another believer
80,000 jobs lost in March. January and February revised to 76,000 losses...each.
CNNMoney.com reports:
==============================================
The Labor Department now estimates that the economy has shed 232,000 jobs in the first three months of this year.
"The revisions are the real surprise in the report," said John Silvia, chief economist for Wachovia. "If we had known it was anything like that, there would not have been any debate going on about whether we were in a recession. It's pretty stark."
===============================================
I wasn't debating, except for the technical definitions.
CNNMoney.com reports:
==============================================
The Labor Department now estimates that the economy has shed 232,000 jobs in the first three months of this year.
"The revisions are the real surprise in the report," said John Silvia, chief economist for Wachovia. "If we had known it was anything like that, there would not have been any debate going on about whether we were in a recession. It's pretty stark."
===============================================
I wasn't debating, except for the technical definitions.
Friday, March 28, 2008
Are we there yet? (yes)
From CNNMoney:
The Reuters/University of Michigan Surveys of Consumers said its final index of confidence fell to 69.5 in March — its lowest since February 1992, when it was at 68.8 — from the previous month's reading of 70.8; indicating that "it is now nearly unanimous among consumers that the economy has already entered a recession."
The Reuters/University of Michigan Surveys of Consumers said its final index of confidence fell to 69.5 in March — its lowest since February 1992, when it was at 68.8 — from the previous month's reading of 70.8; indicating that "it is now nearly unanimous among consumers that the economy has already entered a recession."
Friday, March 7, 2008
Other Opinions (gloomy)
Along with Warren Buffett, this latecomer to the R-word party as reported on CNNMoney.com:
___________________________________________________________________
The U.S. economy is two months into a recession, according to a research note released Friday by JPMorgan Chase & Co.
JPMorgan anticipates the current recession remaining short, unless there is an "abrupt change in corporate behavior."
In a short recession, the bottom occurs at about five months, Thomas Lee an analyst with JPMorgan wrote in a research note. Lee said during typical "short" recessions, equity markets gain about 12% in the year following the bottom.
___________________________________
Alternate view comes from Motley Fool website,
which posted an article entitled "It's Worse Than
You Think It Is." They see bottom still ahead!
___________________________________________________________________
The U.S. economy is two months into a recession, according to a research note released Friday by JPMorgan Chase & Co.
JPMorgan anticipates the current recession remaining short, unless there is an "abrupt change in corporate behavior."
In a short recession, the bottom occurs at about five months, Thomas Lee an analyst with JPMorgan wrote in a research note. Lee said during typical "short" recessions, equity markets gain about 12% in the year following the bottom.
___________________________________
Alternate view comes from Motley Fool website,
which posted an article entitled "It's Worse Than
You Think It Is." They see bottom still ahead!
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