Posted on 06/27/2011 2:35:34 PM PDT by wac3rd
Farewell and good riddance to the first half of 2011 -- six months that are ending as sour for the economy as they began. Most analysts say economic growth will perk up in the second half of the year. The reason is that the main causes of the slowdown -- high oil prices and manufacturing delays because of the disaster in Japan -- have started to fade.
"Some of the headwinds that caused us to slow are turning into tail winds," said Mark Zandi, chief economist at Moody's Analytics.
For an economy barely inching ahead two years after the Great Recession ended, the first half of 2011 can't end soon enough. Severe storms and rising gasoline prices held growth in January, February and March to a glacial annual rate of 1.9 percent.
The current quarter isn't shaping up much better. The average growth forecast of 38 top economists surveyed by The Associated Press is 2.3 percent.
The economy has to grow 3 percent a year just to hold the unemployment rate steady and keep up with population growth. And it has to average about 5 percent growth for a year to lower the unemployment rate by a full percentage point. It is 9.1 percent today.
As welcome as the stronger growth envisioned in the second half is, the improvement should be modest. For the final six months of the year, the AP economists forecast a growth rate of 3.2 percent.
So far this year, high gas and food prices have discouraged people from spending much on other things -- from furniture and appliances to dinners out and vacations. That spending fuels economic growth.
(snip)
(Excerpt) Read more at finance.yahoo.com ...
AP is not news, it's DNC propaganda....90% of the article was negative, but read the headline...which is...truly...(wait for it)..............
UNEXPECTED!!!!!!!!!!
Those “38 top economists” being utilized by the libtard AP are idiots, plain and simple....they are not worth their weight in salt. Bet. =.=
“For an economy barely inching ahead two years after the Great Recession ended..”
Huh?
They are in flat-out panic mode. They look ahead 17 months and see some combination of last November’s shellacking and the Reagan Landslide of 1980 is awaiting their favored party.
Everyone is downgrading our economic outlook in almost half and these dopes are peddling this garbage. No one is buying what you are selling AP.
SUMMER OF WRECKOVERY!
Oh, THAT explains it.
Don’t tell me...green shoots everywhere, right?
They tried this before. It didn’t work then and it’s not going to work now.
The password is.......’insolvency’
The economy is not recovering it is in stagflation.
We have to vote Obama out of office in 2012 or we will have a lost decade and worse than the Japanese.
Meanwhile, The Ben Bernanke said last week, "We don't have a precise read on why this slower pace of growth is persisting," and he speculated that the problem might be in the banking system, or in weak housing markets.
FYI, "Unexpected" things happen only on Unexpected Thursday™. It's still Monday, so this might be "curious" or even "puzzling," but it's probably not "Unexpected."
wac3rd wrote:
AP is not news, it's DNC propaganda....90% of the article was negative, but read the headline...which is...truly...(wait for it)..............
UNEXPECTED!!!!!!!!!!
So long sad times
Go long bad times
We are rid of you at last
Howdy gay times
Cloudy gray times
You are now a thing of the past
Happy days are here again
The skies above are clear again
So let’s sing a song of cheer again
Happy days are here again
Altogether shout it now
There’s no one
Who can doubt it now
So let’s tell the world about it now
Happy days are here again
Your cares and troubles are gone
There’ll be no more from now on
From now on ...
Happy days are here again
The skies above are clear again
So, Let’s sing a song of cheer again
Happy times
Happy nights
Happy days
Are here again!
Isn’t DC one of the BEST places right now...growing by leaps and bounds? And, still there is misery?
More optimism from the Ministry of Truth.
Commercial real estatehas dropped 30-40% home loan defaults are huge and the response of area governments is to extend the time for foreclosures to about a year.
The longer the Feds intervene the longer it will take to clean this up.
What a pant load. Enuf said!
It’s called: Christmas.
They just asked Paul Krugman the same question 38 different ways.
Shilling is right. It’s unreal how AP has turned in to a spnning machine and cheerleader for Obama’s economic trainwreck.
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