EconWatch.com > The Worst Is Over For The Economy

[The Business Insider: Henry Blodget] Paul and Asha's latest reports argue that the worst is over and that we'll see a weak recovery by the end of the year. The stimulus is kicking in and the housing, manufacturing, employment, and consumer-spending trends are beginning to improve (which in some cases means "decline less"). 

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[RevolutionRadio.org] The Only Two Reasons to Own Gold: I always get a real kick out of hearing that “the consumer is 70 percent of the economy,” mostly because it gives me a chance to heap ridicule and scorn on whoever said it, and I say that the consumer is 100 percent of the economy! And speaking of spending, I was surprised to see that the current-account balance of the USA has collapsed to $673.3 billion in the last 12 months, down from its high of over $800 billion, and the trade balance has fallen to $730.4 billion .

[Phoenix Project Daily Journal] Phoenix Project Daily Journal - The Phoenix Journal - May 27, 2009 ...: Perception management is a big part of stimulating the economy.  That’s why the financial press has been air-brushing articles that focus on deflation and shifting the attention to inflation.  It’s an effort to kick-start consumer spending by convincing people that their money will be worth less in the future.  But deflation is still enemy number one.  Rising unemployment, crashing home prices, vanishing equity and tighter credit; these are all signs of entrenched deflation.

[WSJ.com: Real Time Economics] Economists React: ”˜Green Shoots Withering’ in Retail: Indeed, despite the resurgence in the level of consumer confidence over the past few months, U.S. consumer spending seems to be buckling under the weight of the worsening labor market conditions and weakening economy. Nevertheless, we remain hopeful that the impact of rising equity markets plus the massive fiscal stimulus package, which is likely to start kicking in this quarter, will breathe new life into personal expenditures in the near term, thereby providing some much needed boost to U.S. economic activity.

[Robert Steven Duncan] US Economy - A Bulletin From The Captain Of The Titanic: High unemployment is lethal to an economy where consumer spending is 72 percent of GDP. Without debt relief and mortgage cram-downs, consumption will sputter and corporate profits will continue to shrink.

[Fund My Mutual Fund] Gary Shilling's Latest Thoughts: Financial deleveraging: There was a lot of "financial fluff" in derivatives, Shilling says, but they did help accelerate the so-called velocity of money. The end of the securitization boom means less easy access to credit and less financial activity from consumers and corporations alike.

[Zionistgoldreport's Weblog] The Collapsed USA Economic Machine- Thanks Bush/Clinton/Rockefeller: The American economy is contracting at its steepest pace in 50 years, the government reported Wednesday, but an unanticipated rise in consumer spending since January suggested to many economists that the worst of the recession might have passed.

[Phil's Favorites - By Ilene] Smart money on market direction: Bears caught flat footed ...: It will deleverage business, consumers, traders, nations and every other area that has been leveraged. The process will be extremely painful, as all bear markets are, and in the end it will bring stocks, assets, real estate, back to around the basic values that existed prior and just after WW II.

[DealBook] Whatever You Call It, This Rally May Not Last - DealBook Blog ...: He found that since World War II, cyclical bull markets born inside secular bears returned about 42 percent, on average, for the entire life of the rally. That’s less than half the gains generated by cyclical bulls that formed within secular bull markets.

[Recent Comments on Mises Economics Blog] Economists and the "Zimbabwe Solution" - Mises Economics Blog: I dialogued with Greg Mankiw recently and it went well until we got to the concept of the fed and inflation. An excellent book that ties the parallels of the great depression and today and why it seems governments and the 'ivy leaguers' act irrationally is Murray Rothbard's 'America's Great Depression'.

[Economix] The First Fiscal Stimulus Worked. Should We Do Another? - Economix ...: In its latest World Economic Outlook, the fund finds that nations using “intensive fiscal policy” exit recessions two quarters sooner. In plainer English, the additional positive effect of more government spending or tax cuts now ”” if we are .

[Climate Progress] Climate Progress » Blog Archive » Is the U.S. consumption binge over?: Amid much hand wringing over “zombie” and “vampire” banks, no one seems to be looking at the bigger picture of a Frankenstein economy that is composed of decomposing parts. Incredibly, the Democratic Party that currently controls both houses of Congress and the White House has continued the Bush Administration policy of throwing obscene amounts of tax money arbitrarily at selected corporations in an effort to “stimulate” the economy.

[The Volokh Conspiracy] The Volokh Conspiracy - The Coming Explosion of Federal Spending:: The major problem is that our entire economy is addicted to government spending at all levels and that is about to get exponentially worse. To ever cut spending now will cause a huge drop in economic activity that the private market could never make up for fast enough.

[Smart Spending Blog - MSN Money] Desperate Chrysler dealerships are having a helluva sale - Smart ...: Karen Datko is a veteran journalist based in Montana who finds the best tips from .Pillers of their communities, always asked to donate to a community event, are being financially destroyed by an arrogant U.S. administration, inept executives at Chrysler, and now the public piles on thinking they can kick the dealer, .

[The Irish Economy] The Irish Economy » Blog Archive » Goodbye to All That: It seems increasingly clear, for example, that Bord na Mona, and possibly other semi-states, will fail to deliver on their pension promises to employees, though I accept that under Irish law this is not the same as defaulting on a debt. These pension liabilities cannot be guaranteed by the State for competition reasons (which is why the staff is these companies were exempt from the pension levy).

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