Fed Says US Recession May Be Over
WASHINGTON (Sept. 9) - Economic activity is stabilizing or improving in most of the U.S., according to a new government survey, adding to evidence that the worst recession since the 1930s is over.
The Federal Reserve's snapshot of economic conditions backs predictions by Fed Chairman Ben Bernanke and most other analysts that the economy has started to grow again in the current quarter.
In the survey released Wednesday, all but one of the Fed's 12 regions indicated that economic activity was "stable," showed "signs of stabilization" or had "firmed." The one exception was the St. Louis region, which continued to report that the pace of decline in economic activity appeared to be "moderating."
Looking ahead, businesses in most Fed regions said they were "cautiously positive" about the economic outlook.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Classic case of trying to think positive, which will make things more abt to be positive. Albero, you have a few pennies saved so you don't want things to turn around, otherwise you won't feel as "big". Wake up and don't be so selfish.
ReplyDeleteI don't piss on your head and tell you it's raining. Nor would I expect so called experts who so many Americans depend on to do so either. Oh, that's right, the majority of you are democrats who are used to being lied to by your brothers and sisters day in and day out. Albero, (me) isn't a liar, I'm a realist.
ReplyDeleteEverything is FINE! Sure unemployment is 26% and rising! But it's rising slower every single day! And homes are selling like hotcakes. Who CARES that the banks are the ones buying them; IT'S A SALE!!! Come on, you morons! Follow ME!
ReplyDeleteCan I get emphysema (sp?) from all that smoke they are blowing up my a$$? Hey, lets release this the day of the great Obamacare speech so maybe we can dupe the people into believing his stimulus plan worked so the obamacare plan will work too! Looks to me that he is letting the economy go to sh!t so that unemployment will reach 50% an noone will have healthcare and then he will get his plan through. BTW, who is going to have a job left to help support all these people that have been working the welfare wagon for all these years?
ReplyDelete"Stable" - Things are not changing one way or the other.
ReplyDelete"Signs of stabilization" - Things might not be getting worse anymore, but we won't know until next quarter.
"Firmed" - Things are not dropping like a rock anymore. Now they are dropping more like a feather.
I am not sure how this means that the recession is over. Goes to show that I need an ivy league eduction, fancy 3 piece suit, and big paycheck to make this proof that the recession is over.
If I recall correctly, a recession is "two consecutive quarters where the GDP contracts." So for a recession to be over, wouldn't GDP have to grow for two consecutive quarters, at a minimum?
Yeah, the recession is over my A$$:
ReplyDeleteState GOP Granted Installment Plan to Repay Steele
The cash-strapped Maryland Republican Party already had been given a 45-day extension on repaying $75,000 that the State Board of Elections said it owed Michael S. Steele. Today came another concession: The state board agreed to let the GOP pay under an installment plan.
Given the "extraordinary circumstances" of the state GOP's finances, the state board will allow the party to make monthly payments to Steele, said Jared DeMarinis, director of the board's candidacy and campaign finance division.
"A full repayment was not something that could be done at this time," DeMarinis said. "They're having a very onerous time with their revenue stream."
On June 23 the GOP was ordered to to reimburse a state campaign account maintained by Steele, the state's former lieutenant governor and the current chairman of the Republican National Committee. The party was given a 30-day deadline, and then a 45-day extension.
The money in question stems from legal work done for the state GOP in 2002 on a redistricting fight. Steele, who was chairman of the Maryland party at the time, authorized the work and later covered the cost with money from his campaign account. The state board determined the transfer was not permissible.
Under today's tentative agreement, the state party will have to repay an amount equivalent to 15 percent of its gross revenues each month. An exemption was made for the first $15,000 the party raises -- the amount needed to pay two staffers and cover the rent, DeMarinis said.
If the party is not making a good-faith effort, the board retains the right to refer the matter to the state prosecutor, he added.
As part of the agreement, the board decided to allow the party to keep another $2,500 contribution from Steele for which it also had been seeking repayment.
You know, you don't have to read it if you don't like it.
ReplyDeleteI dunno, maybe that's just too practical.
For 8 years under Bush, all we heard from the main stream media was how bad the economic forecasts looked, and then when the numbers came it they were always better than expected.
ReplyDeleteNow the main stream media keeps saying the economy is improving, and when the numbers come out they are less than expected.
Aren't you getting tired of being manipulated by the main stream media?
B.T.W. The unemployment numbers will start to look better as the unemployed run out of benefits and drop off the list. They're out there, just not being counted anymore.
Obama.....change you can believe in!
Is this the same Chaiman of the Fed that refuses to divulge where trillions of taxpayer dollars went? Now that's a real confidence booster to his statement that the economy is doing well.
ReplyDeleteLIARS
ReplyDeleteWhat a lazy bunch of Americans.
ReplyDeleteIf you work , you get paid . How hard is that to understand?
Democrates , everything that comes out your mouth is liquid crap. Make something positive happen , if you can.
Come on Feds-Our bellies are cautiously full of it. Reality-Debt is dangerous, Globalization does not work, and imbalances matter. Time for new tune.
ReplyDeleteThe report states that the downward spiral has stopped. How is that BS? Maybe you guys would like things to keep tumbling down so that you can blame Obama, but at some point you're idealogy falls victim to the facts.
ReplyDeleteMany people don't realize the politicians do not control the Federal Reserve. The owners of the Fed are the real power in this country. They happen to be international bankers and possess power in multiple countries. They are the ones who are pushing us into a global community. Now our governments do not look out for our interests (citizens) but for the interests of these international banking families.
ReplyDelete