GE's Immelt warns US recovery slowest in decades

Discussion in 'Wall St. News' started by piggie2000, Sep 29, 2009.

  1. nothings changed much from march outside a 65% stock mkt run.shorts got the fuck job of a lifetime but i can see another big leg down soon as reality sets in

    GE's Immelt warns US recovery slowest in decades
    GE's Immelt warns less lending, high unemployment to drag on US economic recovery
    By Alex Kennedy, Associated Press Writer
    On Tuesday September 29, 2009, 8:21 am EDT

    SINGAPORE (AP) -- General Electric Co. chief executive Jeffrey Immelt warned Tuesday that high unemployment and slower lending will drag on U.S. economic growth, likely resulting in the weakest recovery in decades.

    There are reasons to believe that this recovery could look different from ones in the past," Immelt said in a speech in Singapore. "There's not a lot of confidence that it's going to be great."

    Immelt suggested the world's largest economy could be facing its slowest recovery from a recession since before the 1970s as increased government regulation and bank consolidation pinch off available credit.

    Joblessness, which reached a 26-year high of 9.7 percent in August, will also weigh on growth by undermining consumer spending, he said.

    "Easing up money has always been the elixir to keep the economy in recovery mode," Immelt said. "But once you get interest rates to zero percent, you can't go much below that, which is kind of where we are right now."
  2. Well see data manipulation and semantic definition greasing to make things LOOK like some sort of economic rebound.

    But until there is a "downside adjustment" in all things economic [and to MUCH lower levels all around] to reflect the reality of the world, THERE WILL BE NO GENUINE ECONOMIC RECOVERY/GROWTH!

    My own view is that America has NO CHANCE of seeing real economic growth at least until the Boomers have died off. And it's likely the government will have destroyed the economic structure and $USD by then in their [futile] efforts to regain the status quo.

    :( :(
  3. There will be "economic growth" but in a different context as you have been used to the last 50 years. The world has become more efficient and human workforce is not anymore in great need as we have deployed a lot of "brainwork" and "muscle" work to the machines.

    Get used to 9-12 % base unemployment in the U.S.
  4. We need another war to cull the excess male population.
  5. pitz


    Immelt was pumping GE stock at $30, and even sent an email to everyone who worked at GE, back in 2006, apprising them of the fact that he spent a few million dollars on stock.

    Look at how well that worked out, lol.