Quote:
Originally Posted by cardiacpaul
The sky is falling, the sky is falling, the sky is falling, jesus h., mary and joey, still nobody is buying it.
We don't have our collective heads in the sand, (pun intended). Its just that things are not that bad, really!
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Trouble with your reading glasses prescription? Or do you just prefer to type without reading? It is "That Bad"
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Thu Jan 17, 8:49 AM ET
CLEVELAND (Reuters) - Cleveland Federal Reserve Bank President Sandra Pianalto said on Thursday the economy has shifted to a lower growth track given restraints led by weak housing prices and falling equities prices.
"The residential real estate market still appears to be in freefall," Pianalto said in remarks to the Association for Corporate Growth, her first comments on the economy in three months.
"We are also seeing a related slowing in consumer spending, perhaps in response to reduced household wealth. Tightened credit market conditions could also hinder economic growth this year for both businesses and consumers," she said.
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Jan. 17 (Bloomberg) -- Manufacturing in the Philadelphia region contracted more than forecast in January to a six-year low, adding to evidence factories are throttling back as the economy slows.
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Jan. 17 (Bloomberg) -- Builders in the U.S. broke ground in December on fewer houses than forecast, making last year's decline in homebuilding the worst in almost three decades.
The 14 percent decrease to an annual rate of 1.006 million, the lowest since 1991, followed a 1.173 million pace the prior month, the Commerce Department said today in Washington. For all of 2007, starts were down 25 percent, the biggest decline since 1980, to 1.354 million.
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I mentioned Exxon Mobile because they financed Bush's campaign. He's their man in Washington just as his dad is the Saudis man in the USA. Lookup ownership of "The Carlyle Group". Senior runs it. Some say they now control 5% of our GDP.