The Recession that Wasn’t ?
By 186 on May 17, 2008
Ooops.
Recession? Not So Fast, Say Some - WSJ.com
A funny thing happened to the economy on its way to recession: It’s taken a detour.That, at least, is the view of a growing number of economists — including some who not long ago were saying a recession was all but inevitable. They note that stock and credit markets have steadily improved since the Federal Reserve intervened to keep Bear Stearns Cos. from bankruptcy in early March, while a series of economic reports have been stronger than expected.
Flopping Aces » Blog Archive » “There’s nothing wrong with the street!”
President George W. Bush may turn out to be the top economic forecaster in the country.About a month ago he told reporters, “We’re not in a recession, we’re
in a slowdown.” At a White House news conference a few weeks later,
despite the fact that reporters pressed him to use the “R” word, Mr.
Bush refused. And on Friday, after the most recent jobs report — which
produced a much-smaller-than-expected decline in corporate payrolls, a huge
362,000 increase in the more entrepreneurial household survey (the best
gain in five months), and a historically low 5 percent unemployment
rate (4.95 percent, to be precise) — the president told reporters:
“This economy is going to come on. I’m confident it will.”We’re in the midst of the most widely predicted and heralded recession
in history. Problem is, so far it’s a non-recession recession. Score
one for President Bush. In an election year, it could be a big one.
Kudlow at NRO
Eight Reasons There Won’t Be a Recession | Portfolio Strategy Focus | GM - TheStreet.com
National Bureau of Economic Research
May 18 2008WASHINGTON:
A growing number of analysts are expressing confidence that the worst may be
over for the US economy, even if it struggles for some time due to weak housing,
tight credit and high energy costs.
The latest data suggests the
world’s biggest economy may have averted a calamitous downturn, and could even
escape recession, by the most common definition.
Technorati Tags: recession, economy, media hype, democrats
