More Economic Good News: Recovery Stronger than expected

Discussion in 'Politics' started by rightwinger, Apr 26, 2010.

  1. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Economists say recovery looks stronger than expected - USATODAY.com

    The recovery is shaping up to be stronger than expected and there is little risk the economy will slip back into a recession, according to USA TODAY's quarterly survey of 46 leading economists.
    Yet most still say the rebound will fall short of the sharp, V-shaped upturns that often follow severe slumps, and the 9.7% jobless rate will fall slowly.

    As the Fed meets to assess the economy this week, seven in 10 economists say they're more optimistic than they were three months ago.

    "I think we've gotten to a point where it's a self-sustaining recovery," says Standard & Poor's chief economist David Wyss.

    The experts predict growth of 3% this year, up from forecasts of 2.8% in January. In V-shaped upswings, growth is often 7% or more.

    None see a return to recession by next year, and those who see some risk say it's lessened markedly.

    "I feel more confident ... there'll be no relapse," says Stuart Hoffman, chief economist of PNC Financial Services Group.

    Yet while the economists say unemployment will fall steadily this year, their median estimates are for a 9.4% jobless rate at year's end and 8.5% at the end of 2011. More than 80% say the U.S. won't regain all jobs lost in the recession until 2013 or later.

    Why the brighter outlook? Consumers are opening their wallets more widely than expected. Retail sales climbed at a 10.1% annualized rate the past three months, highest in four years. Economists cite rising incomes, a stock market rally that makes shoppers feel wealthier and abating fears of layoffs.

    Also, manufacturers are feverishly replenishing stocks to meet growing demand. And exports are swelling company earnings.

    Wyss, though, cites "big headwinds." Consumers, he says, are too burdened by high debt to
     
    Last edited: Apr 26, 2010
  2. The Rabbi
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    The Rabbi Diamond Member

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    Gee, looks like the "good news" really isn't so good after all. Paint a happy face much?
    Still sticking with your 7% unemployment rate by year end?
     
  3. CrusaderFrank
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    CrusaderFrank Diamond Member

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    You know, if economists had any confidence in their predictive abilities they'd be bond traders and not economists.
     
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  4. The Rabbi
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    The Rabbi Diamond Member

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    "The advantage of economists is that they make fortune tellers look good." -W.Buffett.
     
  5. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Good ole Rabbi defending his "Economy will fail" team

    How much of a "V" recovery did we get after the Depression? This is the biggest economic collapse since the Depression and the recovery is well ahead of the heralded Reagan recovery in the early 80s

    What has happend to your gloom and doom predictions of double dip recession and rampant stagflation? Still waiting

    You know I don't do an update on predictions till the month is over.....talk to you next week
     
  6. Truthmatters
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    Truthmatters BANNED

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    they are going to be denying the sky is blue next
     
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  7. Intense
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    Intense Senior Member

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    Just wondering on your position after the delayed tax increases kick in. I'm sure your Government and Union workers will be covered at the expense of the rest of us, Party Member, comrade. May the sacrifices of the Proletarian benefit your portfolio. ;););)
     
  8. Intense
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    Intense Senior Member

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    The sky is not blue, not always. ;)
     
  9. The Rabbi
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    The Rabbi Diamond Member

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    The comments in the very article you posted did not support the article's headline. I guess the truth won't do when a lie can be told?
    We are well on the way to double dip and stagflation. Watch this week's treasury auction and then we'll talk.
     
  10. Truthmatters
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    The economy is recovereing much to the rights dismay.

    Party first all the way huh guys?
     

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