Posted on 01/09/2008 6:10:29 PM PST by InvisibleChurch
The soft economy might feel like a recession, but isn't, and conditions won't deteriorate into a recession.
That's the take of 62 economists surveyed by Bloomberg from Jan. 3-8.
Their median estimate predicts the economy will grow 1.5 percent through June, the slowest since the final three quarters of 2001.
One of the economists, Mickey Levy of Bank of America Corp., noted that consumer spending is holding up despite their worsening mood.
Growth is anticipated to reignite in the third quarter as the Federal Reserve cuts interest rates beyond expectations.
The median estimate said odds of a recession materializing in the next year are 40 percent.
This nation won’t avoid anything if more Liberal morons get elected. Then all bets are off.
The msm...especially CNBC...is deeply saddened since they have been trying to talk us into a recession for the past year to help the Democrats take over the government in Nov.
Are there any statistics on how correct these economists have been with their past predictions?
The stock market does not seem to agree. It has been getting beaten badly. Today was the first decent day in nine trading sessions.
Someone better tell Glenn Beck.
I hope the consensus is right but the perspective from here in Michigan, home of the former Motor City, is pretty bleak.
The ‘rats have done everything to spoil the boom times we’ve enjoyed over the past decade, thats for certain.
“Nation will avoid recession, economists say”
When the practitioners of “the dismal science” sound optimistic...
that’s when I get worried.
OK, I’m a bit of a skeptic/cynic. But I remember all the optimism
that attended the “oil bust” of the 1980s and the “tech bust” of
the late 1990s/early 2000s.
Nothing will make me happier than to see the economists proved right.
I’d even eat my plate of crow. With LOTS of BBQ sauce.
We are going to get at least 2% growth this last quarter of 2007. We do need a stimulus package. Something I have yet to hear from the administration.
Although proponents of the Fair Tax say that the Fair Tax would unleashed a new wave of growth we haven’t seen in years.
I agree. Lets fire the entire government and quit paying taxes. ;-)
Tax Cuts, tax cuts, tax cuts. Across the board for all rates. And the Fed will lower interest rates to 2.5%.
NO! NO! NO! NO!
We need a recession to win for sure!
Yeah...thet correctly predicted 11 of the last 4 recessions.
In other news the new "Economics" trivia quiz has been released with 400 questions and 1250 answers.
Bump!
excluding michigan of course.
Depends on one's investment horizon. Bob Brinker says buy if S&P at 1450 and anything below that is a gift horse buying opportunity. We'll see. But he has an oustanding track record on remaining firm against the bad news bears. He held throughout 80s and 90s, sold in Mar 2000 and bought back in 2003 and has been fully invested since.
> He held throughout 80s and 90s, sold in Mar 2000 and bought back in 2003 and has been fully invested since.<
These days, I am presuming that he holds a lot of shorts.
It was all over today though. It was that last hour that did it.
what is up with Beck?.....he’s been such a gloomy gus lately...I can’t tell sometimes if he’s being sarcastic or not.
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