Whistling past the graveyard....

[Javaman]

Economists see U.S. avoiding recession
Downturn still seen possible if housing crisis deepens

LOS ANGELES - The U.S. economy will suffer as the slumping housing market eats away at job creation and consumer spending, but the nation should avoid slipping into a recession this year, according to a new economic report.

A recession could still happen though, if the credit crisis that has stifled the housing market deepens, preventing consumers from buying big-ticket items like cars and businesses from spending on equipment, according to the quarterly Anderson Forecast by the University of California at Los Angeles.

"We don't see that happening," said Edward Leamer, director and co-author of the forecast released Tuesday. "This is a tough call, but I will be very surprised if this thing actually precipitates into recession."

http://www.msnbc.msn.com/id/23572266/

[lonestarnot]

1. Economic Katrina.

[Vincardog]

2. Note to a$$hatters everywhere "It already is a recession." Deal with it

[ixion]

3. read that closely... the only thing keeping us from slipping into a recession is

consumer credit -- that is: a consumer's ability to dig themselves in deeper.

This 'report' is bogus, IMO.