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No Recession????? Say it ain't so!!!!

Cal

Well-known member
U.S. slowdown to be long, but no recession: survey
Tue Jun 10

WASHINGTON (Reuters) - Economists have trimmed forecasts for U.S. growth in the second half of this year and in 2009, but more have come to the view that the United States will dodge a recession, a survey released on Tuesday showed.

Blue Chip Economic Indicators, a monthly newsletter, said 53.5 percent of the 48 private economists surveyed for its June issue do not believe the U.S. economy is in or will enter a recession in 2008, up from 40 percent in the May survey.

“The consensus now suggests the downturn in economic growth will be less steep than earlier feared, but the subsequent recovery in growth to its trend rate will take longer than hoped a few months ago,” the newsletter said.

The economists polled on June 2 and 3 projected third-quarter growth at a 1.5 percent annual rate, down from the 1.7 percent pace forecast a month ago. For the fourth quarter, they said the economy would likely expand by 1.2 percent, down from the 1.5 percent projected a month ago…

It looks like the Democrats and their media minions gave a recession, but nobody showed up.


Economists have trimmed forecasts for U.S. growth in the second half of this year and in 2009, but more have come to the view that the United States will dodge a recession…

Still, they must put the “bad news” first.

http://sweetness-light.com/archive/shocker-more-economists-say-no-recession
 

Sandhusker

Well-known member
They told me back at dear 'ol Nebraska U that the reason God made economists was to make weathermen look good. Here's what a fellow Nebraskan had to say on this topic;

"In a series of exclusive live appearances on CNBC's Squawk Box this morning, Warren Buffett told us that by a "common sense definition", the U.S. economy is already in a recession, even if it hasn't met the technical definition of two consecutive quarters of negative growth."
 

Sandhusker

Well-known member
Cal said:
Was that included in a book of quotes intended to make podunk bankers look smart?

"Podunk banker"? Come on Cal, are you going to argue against Warren Buffett? Thats like telling Nolan Ryan how to throw a fastball.

Nope, that was a quote from class that I actually remember. We all got a little chuckle, but I put it in the back of my mind and, through the years, I've seen the wisdom in that comment time and time again. I think you can say the same with stock analysts.
 

aplusmnt

Well-known member
Guess with time winding down in his presidency the only Recession Bush will be a part of is the one that Bill Clinton left him in 2001.
 

fff

Well-known member
aplusmnt said:
Guess with time winding down in his presidency the only Recession Bush will be a part of is the one that Bill Clinton left him in 2001.

An eight year recession? Wow. Funny though, Bush has been telling us that the economy is good for years. What a liar! Did you believe him?

As critics of the White House warn of economic trouble down the road, President Bush sought to assure Americans that their jobs and income were secure and improving under his administration's stewardship.
"This past week, we learned that America added over 200,000 new jobs in July," said Bush, in his Saturday radio address. "Since May of 2003, we've added nearly 4 million new jobs."
Bush went on to say that the unemployment rate is below 5%, which is below the average rate since the 1970s, and that real disposable income has grown by over 12% since 2000.
The President also made clear that job creation and security were among his priorities.
"Our economy is strong," he said. "Yet, I will not be satisfied until every American who wants to work can find a job."
To create jobs, Bush referred to the recent trade agreement to open up other markets. In the past week, Bush signed the Central American-Dominican Republic Free Trade Agreement. The trade agreement is designed to open up a market of 44 million customers for U.S.-made products. Next week, Bush said he plans on signing a bipartisan energy bill that encourages conservation, expands domestic production in environmentally sensitive ways and diversifies the U.S. energy supply.
Bush also plans on signing a highway bill next week to improve the roads next week.

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7BB6EF3E2F-629A-44CD-9D54-06185FB5DD28%7D&siteid=google

I will agree that Bush never pulled us out of what should have been a short, mild recession when he took office. But by taking us into two wars and giving away the budget SURPLUS to his rich friends, he made things worse.
 
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