Posted on 12/27/2006 6:46:17 AM PST by Hydroshock
NEW YORK (CNNMoney.com) -- The economy is stumbling at the end of 2006, setting off alarm bells that growth might not just slow next year but that the nation could tumble into a recession.
The recent trend of slower growth is not expected to be reversed any time soon. Home building and the broader real estate market are both already in a recession by most accounts and are expected to stay there well into next year. Manufacturing could soon follow, according to some recent readings.
The details See more
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While most economists are still expecting the economy to avoid a full-blown downturn next year, several say the odds of a recession have risen. Even the more optimistic analysts are looking for a slowdown in growth in gross domestic product (GDP), the broadest measure of the economy, to between 2 and 3 percent next year, from 3 percent or better this year.
10 stocks to buy for 2007 "We don't think there'll be a recession, but the risks have risen," said David Berson, chief economist of mortgage financing firm Fannie Mae. He now estimates the chance of recession at 35 percent for 2007, up from a 25 to 30 percent chance a few months ago.
(Excerpt) Read more at money.cnn.com ...
al CNN
Wishful thinking by the lefty media.
Hydroshock on doom and gloom stories like a fly on house manure.
Do you care to debate the story?
There is objective reporting, examining facts, trends, etc.
Then there is agenda driven reporting.
Being that this is coming from CNN it is most likely the later.
It would be absolutely horrible to find ourselves in a recession after a half-decade or so of growth since the last (mild) recession. Truly we are in trouble.
Debate what? It is all pure speculation. I say things are starting to improve, they say things going to hell. I will be right, but their little doom and gloom story will be soon forgotten and they will go on to the next doom and gloom story.
Stocks will pull back if the Congress passes new taxes or does not extend the current Bush tax cuts. After all, they control the purse strings now. The only way they can pin this on Bush is if he goes along with it.
GWB's approval ratings are in the toilet, but Congress' are in the septic tank.....
Funny thing, if you read the CNN the last 5 years you would still think we were in a recession. But to learn that we might now fall into a recession would suggest maybe we weren't in a recession before.
Ya, that's why the DOW is up 74 points this a.m.
But they keep telling us it might get worse.
The media reports on "the Bush economy" pretty much the same way they reported "the Y2K computer crisis."
MSM will try to make the recession a reality: keep your eye on the ball folks - they are aiming to make things easier for the Demonicrats in 2008. Are you folks ready for President and Reichsfueher Hillary?
Liberals please save us!!
I don't know if we'll get a recession simply because a recession is arbitrarily defined. I do think we'll get some kind of economic slowdown, because that's become the reason for the existence of the Federal Reserve.
There always are a whole lot of unknown variables, so you can always take the position of doom and gloom if that is your world outlook. But from what I am seeing, housing has hit bottom and things are slowly turning the other way. We will start to see more building and steady prices in the coming months and prices will actually start going up again by late summer. From the boom we had, it will have been a soft landing.
bump!
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