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Old 01-06-2009, 05:45 PM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
8,299 posts, read 12,539,352 times
Reputation: 8057

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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 06:10 PM.. Reason: Do not copy whole articles.
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Old 01-06-2009, 05:47 PM
 
Location: Some place very cold
5,500 posts, read 20,496,366 times
Reputation: 4234
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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Old 01-06-2009, 06:02 PM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
8,299 posts, read 12,539,352 times
Reputation: 8057
Well then, don't.
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Old 01-06-2009, 06:09 PM
 
Location: Central CT, sometimes NH.
3,605 posts, read 5,329,915 times
Reputation: 3816
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 (http://robertreich.blogspot.com/2009/01/stimulus-plan-need-and-size.html - broken link)
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Old 01-06-2009, 06:16 PM
 
Location: Some place very cold
5,500 posts, read 20,496,366 times
Reputation: 4234
Quote:
Originally Posted by Woof View Post
Well then, don't.
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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Old 01-06-2009, 06:24 PM
 
Location: Orlando, Florida
43,857 posts, read 45,512,460 times
Reputation: 58647
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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Old 01-06-2009, 07:27 PM
 
Location: Great State of Texas
86,068 posts, read 74,728,966 times
Reputation: 27602
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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Old 01-06-2009, 07:28 PM
 
Location: Some place very cold
5,500 posts, read 20,496,366 times
Reputation: 4234
Quote:
Originally Posted by GloryB View Post
I always thought Woof and Woof Woof Woof! were the same person. The first time I read this thread....I was really confused.
No, he is just a follower.
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Old 01-06-2009, 07:53 PM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
8,299 posts, read 12,539,352 times
Reputation: 8057
Quote:
Originally Posted by Lincolnian View Post
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 (http://robertreich.blogspot.com/2009/01/stimulus-plan-need-and-size.html - broken link)
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! View Post
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?
OK.

Quote:
Originally Posted by GloryB View Post
I always thought Woof and Woof Woof Woof! were the same person. The first time I read this thread....I was really confused.
No, she's definitely not me. Look at the join dates.
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Old 01-06-2009, 08:44 PM
 
Location: Some place very cold
5,500 posts, read 20,496,366 times
Reputation: 4234
I'm three times better than Woof.
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