Is The Worst Over? Most Economists Say Yes »
Posted By Progressive 4 months ago in Business & Finance
As the year's second half begins, most economists are saying the economy will begin to grow slowly in the fall.
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Progressive
There are only two kinds of people who are really fascinating: people who know absolutely everything, and people who know absolutely nothing. -- Oscar Wilde
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CRYMTYPHON4 months ago
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If you listen to one genuine economist,
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- he uses consistent terms and real models.
He knows fifty times the idiot who pokes a finger in your chest while shouting what's what.
But, then you listen to fifty genuine economists;
- and somehow they add up to 1 village idiot.
I can't do the math.-
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deathray4 months ago
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deathray4 months ago
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well, a rising tide isn't lifting all boats...there's always sectoral improvement before a general expansion of the economy. my experience says that the american public hasn't realized what the economic recovery will look like; it certainly won't look like the spending spree of the last 10 years or so.
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canadianrancher574 months ago
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My brother in law lives in Windsor Ontario where they shut down the Chyrsler plant and says things are getting really bad there. He is in the house building business and has a crew of 14 and says that every day it is the same thing , the guys phone first thing in the morning wondering is anything has come up. This is summer time and things are supposed to boom in the summer and yet in many areas it is the slowest it has been in years.
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It sort of makes one wonder where all that money went that was spent in freeing up credit and also the auto bailouts, reminds me of when I was a kid and a magician said POOF ITS GONE.
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rovecannotdie6631Comment removed: Hard Banned1 Reply
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nostalgia4 months ago
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The mountain of debt easily could become the next full-fledged economic crisis without firm action from Washington, economists of all stripes warn.
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"Unless we demonstrate a strong commitment to fiscal sustainability in the longer term, we will have neither financial stability nor healthy economic growth," Federal Reserve Chairman Ben Bernanke recently told Congress.
Higher taxes, or reduced federal benefits and services - or a combination of both - may be the inevitable consequences.
The debt is complicating efforts by President Barack Obama and Congress to cope with the worst recession in decades as stimulus and bailout spending combine with lower tax revenues to widen the gap.
Interest payments on the debt alone cost $452 billion last year - the largest federal spending category after Medicare-Medicaid, Social Security and defense. It's quickly crowding out all other government spending. And the Treasury is finding it harder to find new lenders.
http://apnews.myway.com/article/20090704/D997DOMG0...
Don't be fooled. We haven't seen the worst yet -
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dgoodii4 months ago
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What is California going to do to its tax structure to become at least somewhat balanced? Will they run business out of state or further? Will we adopt same type of standards that has placed them where they are now?
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How many new programs will this admin try, retry from yesterday? Will they drastically change the tax code, implement price or wage controls, cap income and confiscate as taxes every dollar over it?
Their only taking guesses based on previous models and trends, we have never been this far in debt with few takers of our debt. Rest of world may have decided to see us more at their level of living.
The worst has a long time to reach us; malls, business rental buildings, and business parks are still losing tenants. Who expands if cost may be impacted by new laws aimed at energy usage? Where are the shortages from growing demand from consumers purchasing? There may even be a new consumer purchasing model developing that is less debt and want based.
The largest drain on the economy needs to become more fiscally responsible no matter what must be removed from the budget. The sacred cows must be honestly viewed and changed to become sustainable, even if some must never receive them that pay in. -
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