Blue Chip panel puts U.S. recession odds at 50 percent »

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  STONERS

  Feb. 10, 2008, 12:16 a.m.

  "To help avert a recession, Blue Chip economists are expecting the Federal Reserve will continue cutting interest rates. They expect the central bank will reduce its target federal funds rate by at least half a percentage point more this year."

  "Last month, the Fed cut benchmark interest rates by a sharp 1.25 percentage points in a bold move to support growth as weakness, which was largely contained in the housing market last year, began to spread."

  "The series of recent cuts took overnight rates, which stood at 5.25 percent in early September, down to 3 percent."
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  not2needy

  Feb. 10, 2008, 1:01 a.m.

  You know, my husband and i have great credit. Sometimes i think it's too good!

  Every week we get about 15 to 20 credit card offers and everyone of them have outrageous interest rates. Most are between 19.9 to as much as 29.9 interest.

  In this bad economy, i can't understand why they send out all these offers, especially to people with good credit and with those ridiculous interest rates. Not that i would want them with decent interest rates. LOL
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  Dicax_Maximus

  Feb. 10, 2008, 10:21 a.m.

  If the US goes into recession, how long before the rest of the world follows ???

  Worrying !!!!
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  TheRealizer

  Feb. 10, 2008, 11:58 a.m.

  The way our economy is headed (for DEPRESSION), the U.S. will become irrevelant in world affairs.

  The continous deevaluation of the dollar will make it worthless as an exchange currency. If you disagree, HIDE and WATCH!!!!!!!!
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  Dionys

  Feb. 10, 2008, 12:09 p.m.

  Umm.

  Five years from now, if we're not deep in a depression, economists will look back and say we were already in a recession.
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  Centinel

  Feb. 10, 2008, 12:23 p.m.

  Much of this should be attributed to the extremely high cost of energy that has manifested itself recently. A huge chunk of income must be budgeted for energy. To offset the huge increase in energy costs, consumers must cut other expenses to cover the necessity of energy. Then there is the trickle down of increased fuel costs to all other products that require energy for production and distribution.

  It will not improve until the fat cats making obscene record profits in the energy market are brought under control.

  A "windfall profits tax" would go far toward this control. But, alas, our wealthy politicians with massive energy stock portfolios would never consider this since it would cut into their wealth generation.
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  getreal1

  Feb. 10, 2008, 1:29 p.m.

  When it's hard to afford stables like milk, eggs and bread. You know there is trouble.
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  engineer

  Feb. 10, 2008, 2:09 p.m.

  WE ARE ALREADY IN A RECESSION. IT'S POLITICAL TO SAY WE AREN'T!!!
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  simonsez

  Feb. 10, 2008, 2:21 p.m.

  There is nothing wrong with a short recession; we need to catch our breath every now and then.

  We've had many over the years, but they have trended to shorter durations over time. Bring it on.
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  Obaku

  Feb. 10, 2008, 3:07 p.m.

  Here is a little thought problem for you.

  If you had negotiated that your salary had to be paid in a fixed amount of gold in 2000, what would your salary be worth today, in inflated fiat dollars?

  And how many of those dollars are you actually receiving?
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  GHOSTWHOWALKS

  Feb. 10, 2008, 7:28 p.m.

  The recession is here and a depression is knocking at the door. Look for the Fed to lower interest rates soon if a futile attempt to keep the door closed.

  By the time the next election gets here, and I sincerely hope I'm wrong, that door will no longer be protecting anything. It will have crumbled and the depression will be full blown.

  We have, as a society, lived beyond our means for so long that evidentially had to catch up with us. Printing fiat money, bulging defects, run away inflation, high energy prices, and a doing nothing political process,l have brought us to this point in time.

  Government refuses to acknowledge there is a problem and will NOT care if the little people suffer because of their grandiose schemes. They have all the money and power to make sure doing stops their money train and some of the voting public seems to be either brain dead, or just refuse to change. C'est Le Vie. Hard lessons are just around the corner. Good luck.
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  wildman6557

  Feb. 10, 2008, 9:07 p.m.

  To all the economist who claim that offshoring saves us money.... All I have to say is: For awhile.... Apparently a very short while....

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