Finally. A non-partisan issue on which we good libs and cons can ALL AGREE.
Excerpts from the Associated Press article:
90 percent of economists predict end to recession this year
Survey finds experts think downturn will end in months, but unemployment will keep climbing
Wednesday, May 27, 2009
WASHINGTON More than 90 percent of economists predict the recession will end this year, although the recovery is likely to be bumpy.
That assessment came from leading forecasters in a survey by the National Association for Business Economics to be released Wednesday. It is generally in line with the outlook from Federal Reserve Chairman Ben Bernanke and his colleagues.
----------------------
With joblessness rising, consumers -- major shapers of overall economic activity -- likely will stay cautious, making for a tepid turnaround. And given the big bite the recession has taken out of household wealth, notably the values of homes and investment portfolios, consumers probably will stay subdued for some time.
Seventy-one percent of the forecasters believe a more-thrifty consumer will be around for at least the next five years.
--------------------
President Barack Obama's $787 billion stimulus package of increased government spending and tax cuts, near-zero interest rates ordered by the Fed and government programs to get banks to lend more freely again all factor into the expected economic revival.
Many forecasters also predict that home sales will hit bottom by the middle of this year, another stabilizing factor for the economy.
--------------------
A cautious, sober, conservative assessment.
Survey: Most economists see recession end in '09 - Boston.com
Recent Dow Jones history:
-- Sept. 26, 2008 the Dow closes at 11,143.13
-- Oct. 1, 2008 Dow closes at 10,831.07
-- Oct. 14, 2008 Dow closes at 9,310.99
-- Nov. 6, 2008 Dow closes at 8,695.79
-- Dec. 23, 2008 Dow closes at 8,419.49
-- Jan. 20, 2009 Dow closes at 7,949.09 (Obama takes office)
-- Feb. 19, 2009 Dow closes at 7,465.95
--March 9, 2009 Dow closes at 6,547.05 (this seems to be the low point)
--March 19, 2009 Dow closes at 7,400.80
--April 13, 2009 Dow closes at 8,057.81
--May 4, 2009 Dow closes at 8,426.74
As I type, the Dow is now at 8,457.
Excerpts from the Associated Press article:
90 percent of economists predict end to recession this year
Survey finds experts think downturn will end in months, but unemployment will keep climbing
Wednesday, May 27, 2009
WASHINGTON More than 90 percent of economists predict the recession will end this year, although the recovery is likely to be bumpy.
That assessment came from leading forecasters in a survey by the National Association for Business Economics to be released Wednesday. It is generally in line with the outlook from Federal Reserve Chairman Ben Bernanke and his colleagues.
----------------------
With joblessness rising, consumers -- major shapers of overall economic activity -- likely will stay cautious, making for a tepid turnaround. And given the big bite the recession has taken out of household wealth, notably the values of homes and investment portfolios, consumers probably will stay subdued for some time.
Seventy-one percent of the forecasters believe a more-thrifty consumer will be around for at least the next five years.
--------------------
President Barack Obama's $787 billion stimulus package of increased government spending and tax cuts, near-zero interest rates ordered by the Fed and government programs to get banks to lend more freely again all factor into the expected economic revival.
Many forecasters also predict that home sales will hit bottom by the middle of this year, another stabilizing factor for the economy.
--------------------
A cautious, sober, conservative assessment.
Survey: Most economists see recession end in '09 - Boston.com
Recent Dow Jones history:
-- Sept. 26, 2008 the Dow closes at 11,143.13
-- Oct. 1, 2008 Dow closes at 10,831.07
-- Oct. 14, 2008 Dow closes at 9,310.99
-- Nov. 6, 2008 Dow closes at 8,695.79
-- Dec. 23, 2008 Dow closes at 8,419.49
-- Jan. 20, 2009 Dow closes at 7,949.09 (Obama takes office)
-- Feb. 19, 2009 Dow closes at 7,465.95
--March 9, 2009 Dow closes at 6,547.05 (this seems to be the low point)
--March 19, 2009 Dow closes at 7,400.80
--April 13, 2009 Dow closes at 8,057.81
--May 4, 2009 Dow closes at 8,426.74
As I type, the Dow is now at 8,457.