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01-06-2009, 06:45 PM
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Didactic Member
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Join Date: Dec 2006
Location: Hunkering down atop Mt Shasta
1,227 posts, read 1,057,179 times
Reputation: 303
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Fed predicts economy will get worse
In the minutes from its last meeting, the central bank said it expects GDP to decline in 2009 and unemployment to rise into 2010.
By Chris Isidore, CNNMoney.com senior writer
Last Updated: January 6, 2009: 7:12 PM ET
NEW YORK (CNNMoney.com) -- The U.S. economy is likely to deteriorate further this year and unemployment will rise into 2010, according to the latest forecasts from the staff of the Federal Reserve.
This bleak forecast was presented to Fed policymakers when they met last month and lowered interest rates to near zero.
Find this article at:
Fed sees longer economic decline than earlier forecasts - Jan. 6, 2009
Last edited by Waterlily; 01-06-2009 at 07:10 PM..
Reason: Do not copy whole articles.
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01-06-2009, 06:47 PM
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Uber Wolf
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Join Date: Sep 2008
Location: Some place very cold
5,507 posts, read 2,992,419 times
Reputation: 2961
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It's getting worse every day. Anybody who's alive can see that. I don't need to read an article.
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01-06-2009, 07:02 PM
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Didactic Member
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Join Date: Dec 2006
Location: Hunkering down atop Mt Shasta
1,227 posts, read 1,057,179 times
Reputation: 303
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Well then, don't.
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01-06-2009, 07:09 PM
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Senior Member
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Join Date: Feb 2007
Location: Granby, CT sometimes NH.
1,073 posts, read 564,400 times
Reputation: 476
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Former Secretary of Labor, Dr. Robert Reich, makes some dire predictions in his blog today regarding unemployment. He foresees rates of 10% by year's end (15% including underemployed workers moved from full to part time) if the vicious cycle of workforce reductions necessitated by continued drops in consumer demand do not turn around.
Robert Reich's Blog: Stimulus Plan: The Need and the Size |
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01-06-2009, 07:16 PM
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Uber Wolf
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Join Date: Sep 2008
Location: Some place very cold
5,507 posts, read 2,992,419 times
Reputation: 2961
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Quote:
Originally Posted by Woof
Well then, don't.
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What I meant was that anyone on the street can see it. We're all being hit really hard. We can feel it. It's with us everyday.
I wasn't knocking your post, okay? |
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01-06-2009, 07:24 PM
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Senior Member
Status:
"Life is the sum of all your choices."
(set 2 days ago)
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Join Date: Sep 2008
Location: Orlando, Florida
8,630 posts, read 2,514,432 times
Reputation: 8575
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I always thought Woof and Woof Woof Woof! were the same person. The first time I read this thread....I was really confused.
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01-06-2009, 08:27 PM
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Senior Member
Status:
"I didn't take the "Blue" pill"
(set 6 days ago)
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Join Date: Sep 2007
Location: Great State of Texas
10,648 posts, read 3,875,225 times
Reputation: 2142
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Glad the Government is finally coming to terms with reality.
From several articles I read today..seems like no recovery in 2009; they're all saying turnaround is now 2010. I'd like to know what that recovery is based on myself.
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01-06-2009, 08:28 PM
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Uber Wolf
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Join Date: Sep 2008
Location: Some place very cold
5,507 posts, read 2,992,419 times
Reputation: 2961
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Quote:
Originally Posted by GloryB
I always thought Woof and Woof Woof Woof! were the same person. The first time I read this thread....I was really confused.
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No, he is just a follower. |
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01-06-2009, 08:53 PM
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Didactic Member
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Join Date: Dec 2006
Location: Hunkering down atop Mt Shasta
1,227 posts, read 1,057,179 times
Reputation: 303
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Quote:
Originally Posted by Lincolnian
Former Secretary of Labor, Dr. Robert Reich, makes some dire predictions in his blog today regarding unemployment. He foresees rates of 10% by year's end (15% including underemployed workers moved from full to part time) if the vicious cycle of workforce reductions necessitated by continued drops in consumer demand do not turn around.
Robert Reich's Blog: Stimulus Plan: The Need and the Size |
from the article, "Even with the best of policies, a substantial and sustainable turnaround cannot be expected any time soon." This is what worries me .... it's hard enough for the experts to find the "best" policy, but it would be almost impossible to implement that perfectly in a bill, with so many wolves tearing at it and trying to pull it in different directions.
Quote:
Originally Posted by Woof Woof Woof!
What I meant was that anyone on the street can see it. We're all being hit really hard. We can feel it. It's with us everyday.
I wasn't knocking your post, okay?
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OK.
Quote:
Originally Posted by GloryB
I always thought Woof and Woof Woof Woof! were the same person. The first time I read this thread....I was really confused.
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No, she's definitely not me. Look at the join dates.
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01-06-2009, 09:44 PM
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Uber Wolf
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Join Date: Sep 2008
Location: Some place very cold
5,507 posts, read 2,992,419 times
Reputation: 2961
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I'm three times better than Woof.
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