Skip to comments."Optimism index" suggests recession is here
Posted on 08/06/2011 1:06:58 AM PDT by Clairity
Investors don't need more bad news right now, but, even before the S&P downgrade of U.S. sovereign debt late Friday, they seemed to be cognizant it was coming.
The Investors Business Daily Economic Optimism Index dropped by 13.5% from July to August, with its latest reading representing the lowest point in the index's 10-year history. The August reading of 35.8 - down from 41.4 last month - is roughly 20% below both its 12-month average and the reading from December 2007, when the economy entered recession.
Not surprisingly, a reading that low suggests another recession is on the way.
(Excerpt) Read more at marketwatch.com ...
I’m glad they told us this; I thought we’d emerged from any economic problems. /s
It isn’t pessimism! It’s negative optimism!
It never left.
Just a dumb question....could some one tell me when the previous one ended?
Late in the second Bush administration, up to which point things were picking up a lot of steam again after the late Clinton dotcom bust?
(Then there befell America, a Democrat Congress....)
You blinked and missed the 1/2 second interval.
The previous one ended when Obama said it ended - the very second the words came out of his mouth. Then, reality set in and it resumed where it left off and got even worse instead of better. I can see the cliff from my back yard...
More like depression.
My “we’re f-ed” index has been pegged for some time.
Can’t wait until Obamacare saves the economy.
Another recession? We’ve been in a depression.
In another time and place, the unemployment numbers - the real ones, not the fairy tales the federal government gives us - would show we’ve been in a depression and things are not getting better.
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