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Economy skids to near halt »

Posted by: STONERS 1 year, 9 months ago

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The economy skidded to a near halt in the final quarter of last year, clobbered by dual slumps in housing and credit that caused people and businesses to spend and invest more sparingly.

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STONERS

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STONERS
Feb. 28, 2008, 11:14 a.m.
"The Commerce Department reported Thursday that the gross domestic product increased at a scant 0.6 percent pace in the October-to-December quarter. The reading unchanged from an initial estimate a month ago underscored just how much momentum the economy has lost. In the prior quarter, the economy clocked in at a brisk 4.9 percent pace."
"The economy just kept its head above water," said Nigel Gault, economist at Global Insight."
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bubba2
Feb. 28, 2008, 11:48 a.m.
But BUSH says "everything is ok" and that the economy is "robust"! So doesn't that mean that everyone ELSE is wrong and HE is right???
I think not ....
What an enormous MESS this country - and the world - is in because of the incompetence, law-breaking, self-serving 'leadership' from the Bush administration for the last 7 years.
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BoxMonkey
Feb. 29, 2008, 3:42 a.m.
Man STONERS , You are really driving the issue home . Good Post ,again .
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TheRealizer
March 7, 2008, 11:13 a.m.
As a nation we are exporting wealth, and importing poverty. How long can this go on without this nation going into a full fledged depression?
We must try to rebuild our industrial-manufacturing base or we will go down in history as a failed nation.........