Posted on 11/23/2009 6:40:01 AM PST by neverbluffer
Heard on Fox News this morning that the great recession of 2008-2009 is over, and that job growth will greatly accelerate in 2010.
Fox News source... NABE (National Association of Business Economics)
NABE Outlook: Recovery Soon to Lose "Jobless" Label Reaffirming last months call that the Great Recession is over, NABE panelists have marked up their predictions for economic growth in 2010 and expect performance to exceed its long-term trend. NABE members can read the full survey online. There is a summary for the public.
Are these poeple clueless? One just has to look at the leadership summary from its own website.
About NABE® NABE is the premier professional association for business economists and those who use economics in the workplace. Since 1959, NABE has attracted the brightest minds and the most prominent figures in economics, business, and academia to its membership with highly-regarded conferences, educational and career development offerings, industry surveys, and its unrivaled networking opportunities. The NABE membership is organized into eight subject-oriented Roundtables including: Corporate Planning, Financial, Health Economics, International, Manufacturing/Industry, Real Estate, Regional/Utility, and Technology. Past presidents of NABE include former Chairman of the Board of Governors for the Federal Reserve System, Alan Greenspan, several former Federal Reserve Governors, and other senior business leaders.
It’s the msame drum beat from the administration and their media everyday. Don’t believe what you see. Things are getting better!
There is no way the current Fed/Government policies can lead to an economic recovery.
Just in time for Christmas!!!
WoooHooo!!!
My family and I will still not be changing our plans to feast on Hope and Change. I hear it is the delicious and a great calorie conscious alternative to Turkey. I have a recipe that also includes some baked stimulus with a stuffed Taxes and fried Porkulous.
In other news, HR112909 has been hotly debated and is set to pass before T-day. The original version banned the murder of turkeys for consumption during the months of November and December. Thankfully, because of the hawkish resistance and vigorous objection to the freedom stripping bills, republicans have negotiated to have an amendment included that will allow the cooking of turkey if a turkey enters an oven of it's own free choice on Thanksgiving morning between the hours of 7:00 AM and 9:00 AM.
Have a great T-day.
Well at least BO can’t blame Bush for what comes next.
Who cares what they predict. Here was their prediction for 2009.
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February 23, 2009, 12:41 AM ET
Economists Optimistic For 2010 Rebound NABE Survey
The survey of 47 NABE forecasters has the jobless rate rising to 9% by the end of the year. It is currently 7.6%.
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http://blogs.wsj.com/economics/2009/02/23/economists-optimistic-for-2010-rebound-nabe-survey/
Im sure we’ll hear all kinds of great news right before the midterm elections. I doubt any of it will be true though.
Oh, goody! I want me one of them no-work gubmint jobs they gonna be givin’ out!
When we were operating our Grade A dairy, we got used to the experts predicting “the price will be better in 2 months.” A month later, it was “the price will be better in 2 months!” Another month after that it was “the price will be better in 2 months!” And on it goes...(after 9/11 it went on for 2 1/2 years before improving)
hh
If you're believing that, then I have some land on a bayou that I can make you a good deal on.
The entire field of economics will be torn down and rebuilt from the cellar upwards.
These Business economists are the heirs to Rasputin, sadly for me as I had career goals to become one. The future will be written with Minsky and Mandelbrot and Taleeb and lesser known academics such as Geoffrey Miller and Richard L. Hudson, and Oliver Morton
You had me going there for a moment, but you went way over the line. The Republicans don’t have balls anywhere near that big.
The foreign financed stimulus paid for a lot of this good news such as the increase in existing home sales and Cash for Clunkers. Most of the latter went to the economies of Germany, Japan, and S. Korea, and we still have to pay the money back to China. I’ll feel a little more optimistic when the economy can improve without going deeper in debt by borrowing more foreign money to pay for it.
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