Posted on 01/08/2008 12:55:00 PM PST by blam
Anyone that takes the BBC seriously on any topic, let alone the American Economy, needs their head examined.
“Everything that should be up is down and everything that should be down is up!”
Vote for the third party - It can’t get any worse....
Oh sorry - flashbacks..
Well, hell, if you’re in sales, sell, sell, sell now, before your prospects decide there is a recession.
So Merrill Lynch doesn’t know the definition of a recession?
I said to short the index futures on December 12th, and reiterated that this morning. Hope someone listened.
Well, if the BBC says so, it must be a lie.
The stock market continues to decline as we head into the final half-hour of trade. The comments made by AT&T's (T 38.07, -2.96) CEO fueled broad-based selling pressure.
AT&T's CEO said the company is disconnecting more home phone and broadband Internet customers for failing to pay their bills, according to Bloomberg.com. Traders are fearful that this may be a sign of recession. The telecom sector is currently down 6.7%, after being down more than 7%. It was in positive territory prior to the report.
5%?????? 5% has long been regarded as FULL EMPLOYMENT! People have gotten so used to an outstanding economy, that a better than average one is looked at like a recession. If people keep talking down the economy, they're going to get the recession the want. Consumer confidence is key.
Yeah? Well the rest of the world define a recession as an actual decline in economic growth for two consecutive quarters.
Merrill Lynch said that the figures showing the jobless rate hitting 5% in December were the final piece in that puzzle.
In a sane world, we used to call unemployment figures under 6% full employment!
What idiocy!
Ask 2 economists about Wall Street, and you'll get 3 opinions.
The economy grew at 4.9% last quarter, that's hardly a recession.
Between the Brit's opinion of our "quaint" political process and wishful thinking about our impendig economic recession I'm starting to grow very disgusted with the lot of them.
Conveniently just in time for an election year.
I know. All this tells you is the writers political affiliation.
You're right..5% is about full employment. 3.5-4% is scraping the bottom of the barrel.
Locally, we were at 2.8% for a period of time. It was tough to get service, anywhere. And the quality of service at places like retail + restaurants, stunk. Coincidence? I think not.
I thought the definition of recession was 2 consecutive quarters of negative growth?
Phew, it's only a Recesion. For a while there I thought it might be a Recession which is almost twice as bad. :O)
A Recession is two consecutive quarters of negative economic growth. The BBC is economically illiterate.
Only if a Dem is in the White House. If a Republican is president, a recession occurs at the whim of the media.
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