Top Economists See Signs of Recession

[Demagitator]

Source: ABC News

Top Economists See Growing Signs That the Country Has Toppled Into a Recession

By MARTIN CRUTSINGER
AP Economics Writer
WASHINGTON Feb 25, 2008 (AP)

Job growth is faltering, consumer confidence plunging. The fallout from the worst housing slump in a quarter-century grows. Wherever you look, the signs are unmistakable that the economy is in trouble.

Because of all the bad news, more and more economists foresee the country falling into a recession, according to the latest survey by the National Association for Business Economics.

The group said in a report being released Monday that 45 percent of the economists on its forecasting panel expect a recession this year. In September, only one in four economists was pessimistic enough to put the chance of a recession at 35 percent or higher.

The drumbeat of bad news since last fall has caused many analysts to consider a recession more likely now, said Ellen Hughes-Cromwick, chief economist at Ford Motor Co. and NABE's current president.

Read more: http://abcnews.go.com/Business/Economy/wireStory?id=4338042

[NC_Nurse]

1. Where have they been?

Asleep under a rock?

[Chisox08]

2. I hate to say I told you so but

I told you so. But Recession has since past we are slipping into Depression. With more and more jobs going overseas and the war on the middle class I don't see an end to it in sight.

[Megahurtz]

11. No Kidding.

What Idiots. Idiots in denial or just trying to hide the truth.

[liberal4truth]

16. You are correct. The Teamsters Union just rolled over on thier members in the Freight business....

...One of the major Freight players, Yellow-Roadway Corporation, decided they needed a new classification for a driving position called the "Utility Driver".

Said new drivers will make 14 dollars per hour with no overtime pay, compared to the current "road drivers" that currently make over 24 dollars per hour, and whose jobs when will be assuming as they retire or are laid-off.

Thats in addition to the massive layoffs or drivers and dockworkers in the trucking industry in general this past year due to a decrease in the volume of freight at all levels.

People simply are not buying extra things, just the nesessities, these days.

Stick a fork in it, its done, now that the one of the largest unions in the nation has folded up shop on their dues paying members with yet another sell-out to the multi-national companies like YRC.

[fasttense]

3. Until it became blatantly obvious, they saw nothing.

"Wherever you look, the signs are unmistakable that the economy is in trouble."

So until even a cave man could read the signs of a recession, the economist were saying everything is fine and dandy. What a bunch of idiots.

[Javaman]

10. Oh they saw it, but they were all doing the back slapping lie to

try and keep things together while they sold off all their investments. Once that's done, then they make their "bold" announcement.

you, like myself have long known we have been in a recession for years. It really never ended since the last one.

But there are a host of people out there that honestly believed morons* lies about the economy being "healthy".

This announcement was to the mouth breathers.

[OhioChick]

4. Seeing "Signs?"

Where the hell have they been?

[InkAddict]

9. Consulting the Oracle.

Oracle 1-800-633-0738
Have Oracle call you.
GOP/GIGO/Gig-olos

Must have been a little glitch in the acquisition of real-time data flow.
Yep, no accounting compassionate conservative 0s and 1s. It is what it is.

I guess the system may need some down-time for maintenance.

http://searchoracle.techtarget.com/news/interview/0,289202,sid41_gci1036107,00.html#

[CoffeeCat]

5. So nice of the economists...

...to finally define what many "people" have been experiencing for months now?

[bdamomma]

6. what total BS these economists know what the hell is going on.

do we think any of them care?? Nope everyone is in it for themselves and fcuk everyone else. It will get worse before it gets better, then do we get in the streets.

[fascisthunter]

7. Sorry, But These Economists are Full of It. Where the Hell Have They Been

on Bush's ranch (Mars)?

[madrchsod]

8. with luck we will be coming out of recession

by the beginning of next year. the recession should bottom out about the the time of the election

[PassingFair]

12. I hope you are right.

People here are hanging on by a thread!

:hi:

[liberal4truth]

17. Not a chance. No decent jobs, everything made overseas now. Stick a fork in it.

[olddad56]

13. common people see signs of the next great depression.

[Karenina]

15. Signs? The jackboot is not even a millimeter away!

[Thickasabrick]

14. Every top economist I've read agrees that recessions can only

be seen "after the fact". "Signs" can be seen all the time but you can only know for sure after one is over. I don't really know why that is but that's pretty much a consensus.