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Old 03-20-2008, 02:17 PM
 
Location: New Jersey
2,662 posts, read 3,814,268 times
Reputation: 580

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Economist: Fed, Congress missed chance to avoid recession - Mar. 20, 2008

Slowdown could have been avoided

A well-respected economist says the U.S. is now in a recession...and that Congress and the Federal Reserve could have stopped it.

NEW YORK (CNNMoney.com) -- Congress and the Federal Reserve missed their chance to keep the country from falling into recession by acting too slowly, according to a well-respected economist.
Lakshman Achuthan, the managing director of the Economic Cycle Research Institute, said the economy has now fallen into what he calls "a recession of choice."
He argues that the economic stimulus package passed by Congress this year is too late to help many consumers and businesses and that the Federal Reserve was too timid when it started trimming interest rates last fall. . . .


Another example of what Poloski and the dems have done in such a short time.
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Old 03-20-2008, 02:24 PM
 
69,368 posts, read 63,839,164 times
Reputation: 9383
Congress and the Federal Reserve still are doing nothing to stop it.

Congress is proposing more taxes, more spending..

Federal Reserve is dolling out more dollars, lowering the value of a dollar, and making it more difficult to qualify for a mortgage.

HELLO? It should be easier to qualify in bad times to move the money, tougher in good times to slow it down..

Note words under my name.. Banging head against wall!!
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Old 03-20-2008, 02:31 PM
 
Location: Albemarle, NC
7,730 posts, read 14,102,677 times
Reputation: 1520
Bernanke is terrible. Congress has been shaky at best since Greenspan left office.
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