Fed Sees Economy Getting Worse

money.cnn.com ^ | April 8, 2008: 2:14 PM EDT | staff

[TCats]

I live in a very upscale Condo (Approx 4,100 sq ft) and, of the 76 Units in it, 12 are empty, on the market. The Unit adjacent to me has been empty for about 3 years and the one directly across the street for about 2. We have had one foreclosure and one Bankruptcy, the rest due to transfers, deaths and migration South.

You'd never know it because there are no ‘For Sale’ signs and the grounds and exteriors are all impeccable.

[Red6]

You will pay more every year, it’s call inflation, get use to it, that is if you were born post 1900.

[RightWhale]

It’s anybody’s guess about illegals. They don’t get counted either arriving in the workforce or departing.

[TCats]

Agree on the definition of ‘Recession’. I guess it just depends on whose measurements are accepted. I'm not a conspiracy nut, have an MBA from a very good school, am a CPA and have worked for several International Consulting Firms. I simply do not believe what the Gov’t is throwing out, especially about inflation.

I think we have been in a Recession for awhile. The statistics will eventually catch up.

[Red6]

With under 5% unemployment at one point (Near full employment essentially), there really aren't to many directions we could go.

[TCats]

Agree again. But me being the cynical person I am thinks the unemployment stats are also a little ‘Rosy’. They don't truly measure the totality of the employment picture, leaving out large segments in the measurement.

That said, we have had a good run, perhaps too good. I think ‘Stag-flation’ is in the cards and I hope it doesn't get beyond the traditional meaning of that term although I wouldn't be at all surprised if it did get much more severe.

[Night Hides Not]

LOL!!! I feel your pain. We moved from El Paso to Irving (600+ miles) about 12 years ago. Three of her six sisters followed us here, with two living with us at least six months each.

I do love my in-laws dearly, but whenever I say anything critical, no matter how mild or inocuous I think the comment, I'm likely to hear:

YOU HATE MY FAMILY!!!!!!!

I greatly miss my father- and mother-in-law, both of whom passed away during the past two years. I'll never forget how happy my FIL would look when he'd be cooking for his grandkids. They'd sit at the table, and they carried on the sweetest of conversations.

[Ron in Acreage]

It’s time we taxpayers put the government into a recession instead of them doing it to us.

The only way to stop their debt creating, wasteful pork barrel, ear marking spending, is to STOP paying income taxes.

Just say no on April 15th.

I’m curious as to how many “mortgage crises” victims are not going to pay or even file this year?

I heard on the news the other night that we are now up to 15 to 16% of workers that do not file. I’m guessing it will soon be 20% and rising.

I may just join them this year.

They no longer deserve a dime of mine.

[bjs1779]

Government stats are fast becoming a joke from their inflation figures on down.

The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated "discouraged workers" defined away during the Clinton Administration added to the existing BLS estimates of level U-6 unemployment.

[TCats]

My point made entirely! (See my posts this thread)

[jiggyboy]

So what is going to happen when we get to 0.00% interest rate????

October 2011: "Financial stocks led the stock market sharply higher today after the Federal Reserve unexpectedly cut its benchmark rate by fifty basis points, to negative fifteen percent. At its peak following the announcement, the Dow Jones Industrial Average was up more than 100 points. However, the rally was short-lived, and stocks ended the day where they started. The Dow Jones Industrial Average gained two points to close at fifteen."

[NeoCaveman]

Those stats that show 12% unemployment and the like always crack me up.

I mean, there should be a lot of people living in cardboard boxes around here somewhere...

[WildcatClan]

The only economic indicator I needed: This is an election year for President. The Democrats are not the party in power. The Democrats want to be the party in power, and the media, being good socialists, will see that all the grim speculation is repeated early and often.

[TCats]

Well, I can tell you, there are a lot of people around my area that are ‘Retired’, not working, not collecting SSI that are not included in any of these surveys. Do they want to work? Maybe. Do they rely on their Spouse or on savings? Most certainly.

I think the ‘Real’ unemployment rate is much higher than 5% but not 15%

[Red6]

Oh, I see, “shadowstats.com” is more credible. Got it.

You will never achieve 0% unemployment because even when structural and cyclical (Which we face today a growth in) is negligible you still have frictional unemployment. A normal baseline of 4.5~5% is about as good as it gets, and even just six months ago it was inflationary pressure we were threatened by.

[B4Ranch]

You definitely need to talk to Toddsterpatriot. He will explain to you just how fantastic this economy actually is. That is one Egyptian boy who knows which direction denial river flows.

[B4Ranch]

I got along just fine renting for 15 years. I am sure the folks you mentioned can do the same.

[OrioleFan]

0.00% Interest rate - does that mean the NAV on my bond fund will go approach infinity?

[tokenatheist]

10-20% per year isn’t normal levels of inflation.

[org.whodat]

The minutes show that some Fed policymakers are concerned that the problems in the "housing sector had deepened and that considerable uncertainty surrounded the outlook for housing."

No kidding?? What was their first clue???