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Analysts: Europe is biggest threat to U.S. recovery
AP via Pocono Record ^ | December 27, 2011 | Derek Kravitz

Posted on 12/27/2011 9:35:22 PM PST by Olog-hai

The U.S. economy will grow faster in 2012—if it isn't knocked off track by upheavals in Europe, according to an Associated Press survey of leading economists.

Unemployment will barely fall from the current 8.6 percent rate, though, by the time President Barack Obama runs for re-election in November, the economists say.

The three dozen private, corporate and academic economists expect the economy to grow 2.4 percent next year. In 2011, it likely grew less than 2 percent. …

Dean Maki, chief U.S. economist at Barclays Capital, says the U.S. economy remains vulnerable to an outside shock. A big threat is the risk that Europe's debt crisis will trigger a worldwide credit freeze like the one that hit Wall Street in late 2008.

A shock to the U.S. economy, he says, might not be as dangerous if it were growing at a healthier 4 percent to 5 percent annual pace. But when growth is stuck at 2 percent or 3 percent, a major global crisis could stall job creation and raise unemployment.

Beyond Europe, troubles in other areas could also upset the U.S. economy next year, the economists say. Congressional gridlock ahead of the 2012 elections and unforeseen global events, like this year's Arab Spring protests, could slow the U.S. economy. Three economists said rising nuclear tensions with Iran are a concern. …

(Excerpt) Read more at poconorecord.com ...


TOPICS: Business/Economy; Foreign Affairs; Miscellaneous; News/Current Events
KEYWORDS: europeanunion; fiscalcrisis

1 posted on 12/27/2011 9:35:27 PM PST by Olog-hai
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To: Olog-hai
I vehemently disagree: Mr. Obama is the biggest impediment.
2 posted on 12/27/2011 9:37:14 PM PST by 2ndDivisionVet (You can't invade the US. There'd be a rifle behind every blade of grass.~Admiral Yamamoto)
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To: 2ndDivisionVet

“Unemployment will barely fall from the current 8.6 percent rate, though, by the time President Barack Obama runs for re-election in November, the economists say.”

In the real world, using real math, it will be closer to 16%


3 posted on 12/27/2011 9:40:05 PM PST by jessduntno (The Republican elite hates him, Rove hates him, Boehner hates him, liberals hate him. It's Newt!)
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To: Olog-hai

Bush, Tsunamis, ATM’s, Europe....its all holding us back.


4 posted on 12/27/2011 9:42:27 PM PST by lacrew (Mr. Soetoro, we regret to inform you that your race card is over the credit limit.)
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To: 2ndDivisionVet

Exactly.
And, if Obama takes down America, he takes western man even farther.
Obama is a huge threat to the global economy as his islamic brethren stand behind western man.

All of this adds up to a global catastrophe that the next republican is going to have confront and unwind. Its the kind of stuff that wars are made of.


5 posted on 12/27/2011 9:43:33 PM PST by himno hero (Obamas theme...Death to America...The crusaders will pay!)
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To: jessduntno

I worked at two different state’s unemployment offices for nearly 20 years as a veteran’s career counselor, welfare-to-work instructor and supervisor. U6 unemployment last month was 15.6% and that still doesn’t even come close to counting everybody. I’m guessing the real number is 22-25% or thereabouts.

http://portalseven.com/employment/unemployment_rate_u6.jsp


6 posted on 12/27/2011 9:45:31 PM PST by 2ndDivisionVet (You can't invade the US. There'd be a rifle behind every blade of grass.~Admiral Yamamoto)
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To: Olog-hai

Yea, yea, so we in the U.S. “have” to give the ECB, the so called banks, and their “insurance” company owners everything they want. And while we’re at it, back a forced European Phony-Care type scam. As long as all the European bureaucrat governments are exempt, just like Phony-Care in the U.S.
The sky is the limit, as long as they are exempt, right?


7 posted on 12/27/2011 9:49:24 PM PST by Varsity Flight (Phony-Care is the Government Work-Camp: Arbeitsziehungslager)
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To: 2ndDivisionVet

Yep


8 posted on 12/27/2011 10:08:13 PM PST by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: 2ndDivisionVet
“I vehemently disagree: Mr. Obama is the biggest impediment.”

In a way, both views are correct. It is the concept of European socialism, and the sophomoric views of Obama who thinks European socialism is the ideal that are holding back the American economy.

9 posted on 12/27/2011 10:12:44 PM PST by pieceofthepuzzle
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To: pieceofthepuzzle

The economies of the world are in a turmoil because of over-lending. The toxic bond capitals of the world are NY and London... with Frankfurt and Paris coming in as far away seconds.

Some money movers are now even looking at socialistoid Sweden as the new Switzerland... a safe haven for their money.

Though socialism is a big drag, the culprit of this crisis is quite solidly Finance Capitalism in cahoots with the social planners... Bubbles, big fat juicy ones. Now one should ask why on earth ancient enemies should suddenly be ass-and-shirt (so to speak). The answer is Globalism.

It’s not enough to say Socialism, because the big fatcat Capitalists are also involved. Why be blind to it?

In my country, this unholy union is manifest. The Communist president appointed Mario Monti, international advisor to Goldman Sachs as Prime Minister. The same Goldman Sachs that was Obama’s number one contributor.

Why would the cigar chomping caricatures of Capitalism join forces with the caricatures of social planning?


10 posted on 12/28/2011 1:25:45 AM PST by Youaskedforit
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To: Youaskedforit

“Why would the cigar chomping caricatures of Capitalism join forces with the caricatures of social planning?”

Look at the origins of communist revolution to see that this is nothing new.


11 posted on 12/28/2011 1:56:52 AM PST by mas cerveza por favor
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To: mas cerveza por favor

Agreed. Yet people continue to see the struggle - or the battlelines - between Capitalism and Socialism, when instead they can get along quite well... and in fact, are in cahoots.

I’ve come to the conclusion that the real battleline is Globalism (which has every reason to promote multiculturalism and political correctness and immigration and one-size-fits-all) VERSUS the more local and cultural. Only the latter is conservative in any meaningful way.

I’ve come to see that big and invasive government is also a result of big and invasive Capitalism. In any case, it is beyond shocking that a land so blessed as America, blessed with everything, resources, fertile land, science fiction technology, great universities, generous oceans and lakes, should have 1 in 4 kids on foodtsamps and people trampling each other to death in Black Friday sales.

These numbers - even if only half true - are shocking:

http://www.zerohedge.com/news/50-economic-numbers-about-us-are-almost-too-crazy-believe

And at this point carping about socialist Europe only goes so far... when there is obviously another source of friction that has caused the destruction of the Middle Class and increased the barbarity of society.

And it is to be found in the unholy alliance of the MSM, Big Finance and Corrupt Govt. Another vision, and one more complicated than the simpler (and at this point resolved) diatribes of Capitalism Vs Socialism.


12 posted on 12/28/2011 2:22:57 AM PST by Youaskedforit
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To: 2ndDivisionVet

Indeed he’s an enemy of the state.


13 posted on 12/28/2011 4:33:50 AM PST by Vaduz
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To: Olog-hai
That report is total bullshit. Only an obama voter would give it any credence. We have businesses shutting down every day because they cannot afford to stay in business. We have companies leaving the United States each day in order to stay in business.the few that remain will be Government subsidzed and Government controlled. This Christmas season buying that the "economists" were crowing that was so successful, upon closer look one will find that the goods they were purchasing was from 50 to 80% off retail and the stores barely broke even or lost money an in addition to that a lot of the purchases were on credit cards. In fact, Sears and K-Mart were so successful that they are closing 120 stores.

As far as economics go, 2012 will be worse that 2011.

14 posted on 12/28/2011 4:51:11 AM PST by sport
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To: Olog-hai
That settles it. Europe will have to go...

Sorry about that, Euro-Freepers!

; D

15 posted on 12/28/2011 4:59:18 AM PST by Caipirabob ( Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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To: Youaskedforit
Monti is another example of the academic ‘in-breeding’ that, like most in-breeding’, has lead to a less-fit ‘gene pool’. Whereas there are some academic economists who ‘get it’ and understand the importance of free market capitalism, most are theoretical ‘modelers’ who don't realize (or won't concede) that economics is not a science.

I'm very sorry your country is going through what it's going through. In my view, if the US is looking for international trading partners, we should be looking at countries like Italy that actually make high quality merchandise (at least those industries that still survive). Instead, Italy, the US, and the rest of the self-loathing West commit economic suicide while importing lower-cost lesser quality ‘stuff’ from countries whose governments would love to see us fall.

16 posted on 12/28/2011 5:23:28 AM PST by pieceofthepuzzle
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To: Olog-hai

biggest threat to us...Zero’s relection...


17 posted on 12/28/2011 1:54:46 PM PST by ExCTCitizen (If we stay home in November '12... Don't complain if 0 shreds the constitution!!!)
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