Posted on 08/31/2006 7:45:21 AM PDT by frogjerk
NEW YORK (Reuters) - The U.S. economy may be in recession, based on Midwest manufacturing data, a report said on Thursday.
According to Kingsbury International, a partner of NAPM Chicago which puts out The National Association of Purchasing Management-Chicago business barometer, "the U.S. economy could be in a recession at this time."
"In four of the last five recessions, the slowing of the Chicago business barometer signaled a recession either one or two years later," the report said.
Copyright 2006 Reuters
(Excerpt) Read more at news.moneycentral.msn.com ...
Could be, but it's not. Author needs to leave a request for wake-up call with the desk.
I suppose they have the pictures to prove it, right?
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Now that they've succeeded in pushing down the housing market after talking about it incessantly for two years, I guess they're going to try and one-up themselves by pushing down the whole economy.
For the record, I admit there was a housing bubble in some areas of the country. However, IMHO, the pullback in housing prices over the last couple of months in the rest of the country is based purely on fictional media hysteria and not on reality.
Reuters is hoping too loudly!
And pigs may fly.
It's reality in the Detroit metro area.
Is everything produced by Reuters now an outright lie?
flying monkeys, butt, yadda,...
"the U.S. economy could be in a recession at this time."
"In four of the last five recessions, the slowing of the Chicago business barometer signaled a recession either one or two years later..."
Are these guys dislexic? "One or two years later" is not "at this time."
I heard a report on one of the Chicago radio stations that the Chicago Fed. reported some Midwestern manufacturing index was up? What gives? Did I not hear things correctly?
Of course, it is a reality in certain geographic areas, but overall, the U.S. economy is not in a recession. Didn't they revise the GDP upwards yesterday? Rooters, you have no clothes.
I would advise living somewhere else.
NEXT!!!
The only glimmer of reality in the comment is that domestic automakers are getting hammered, as they try to peddle 12 mpg SUVs the size of New Brunswick against better quality imports with 2-3 times that, with gas at $3 a gallon. And those are a significant part of the specifically midwest, specifically industrial, sector. But services are fine even in the midwest and manufacturing is fine in all other sectors. Even construction is no worse than flat, despite all the overheated talk about bubble and collapse, as commercial building is expanding by at least as much as residential is slowing down.
The AP writers keep trying to spin 3% growth as the great depression, but it is just stark raving nonsense.
In that case, it's time for another massive tax cut.
Yes, do blame it on the MSM, and not the ridiculously loose lending standards of the past 5 yrs....
C'mon now. The media did not "push down" the housing market...the housing market was primed for a fall.
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