You are not signed in. (Sign In)

Alan Greenspan raised the possibility a few months ago. Yesterday's GDP number gives more credence to his speculations. First quarter growth came in at 1.3 percent, well below even the pessimistic expectations of analysts. It describes a slowing economy which can no longer ride the housing horse to prosperity. The fact is, now that real estate has cooled, there is no sector of the economy promoting growth. As important, the inflation numbers are troublesome, meaning that the Fed may well be reluctant to step in with a shot of stimulus. We are reaping the fruits of five years of bad economic policy, marked by tax cuts for the rich and billions of dollars flowing to the friends of the president asnd vice president. We are neglecting the educational needs that would keep us in the forefront of the world and we have in effect frozen the wages of the middle class. I don't expect a recession, but the prospects of one occurring are growing--and we have no one but ourselves to blame.

Print this

Delicious Digg Reddit Magnoliacom Newsvine Furl Facebook Google Yahoo Technorati Icerocket

John...great post on a long overdue topic, potential rescession. REALonomics.net concurs, although our position is a bit stronger. We believe the recession is more likely than not likely. When companies such as D.R. Horton report 85% revenue reductions, a staggering, almost unimaginable number, we need to listen. What's missing in this national equation is an economic dissection of the industy's business models, which are not structured to cope with either a recession or the impact of the consumer centric demands that are already bombarding the industry. Donald Teel, REALonomics.net and e-Partner (ePartnerUSA.com).

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <h1> <h2> <h3> <h4> <h5> <h6> <em> <strong> <code> <del> <blockquote> <q> <sub> <p> <br> <ul> <ol> <li> <dl> <dt> <dd> <a> <b> <u> <i> <sup> <img> <object> <param> <embed>

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.