NEW YORK (CNNMoney) -- The U.S. economy is staring down another recession, according to a forecast from the Economic Cycle Research Institute.
"It's either just begun, or it's right in front of us," said Lakshman Achuthan, the managing director of ECRI. "But at this point that's a detail. The critical news is there's no turning back. We are going to have a new recession."
The ECRI produces widely-followed leading indicators which predict when the economy is moving between recession and expansion. Achuthan said all those indicators are now pointing to a new economic downturn in the immediate future.
His recession call puts him ahead of most other forecasters. A CNNMoney survey of economists this week pointed to a one-in-three chance of a new recession in the next six months. The most bearish predictions put the odds at 50-50.
4 comments:
That is such BS!
It's been a Depression since mid 2007! Why won't the government come clean and admit this?
Ask anyone in construction or real estate and they'll tell you this as well! It's only going to get worse. Manufacturing and technology have been sent to other countries like China and India. I totally blame our government and the corporations for what has happened. We are now just another third world country.
To Scott
You are absolutely right in your accusation that our Country is in a depression.
SBYnews has tried to warn people time and time again to try and stay out debt. The old verse in the bible;
'The debtor is a servant unto the lender'
The verse is as applicable today as it was when it was written several thousand years ago.
The banks will literally pick your bones dry, and after they are done your own government will consume even the bones.
You guys are right. We never got out of the one we're in. It's just now becoming apparent that there is no way to hide the fact that we are so far in the hole and getting worse that they have to try to hide their allegations that it ever got better. Get ready boys and girls.......this is just getting interesting. No telling what they will try to get us to believe next.
You are all right.People need to stop believing the "it must be ok because the media tells me so"
Post a Comment