What happened to recession?

Discussion in 'Economics' started by HedgefundTrader2, Feb 21, 2008.

  1. What happened to recession? The Feds donot think there is one ahead or behind. Whatever, its coming from horses mouth. They know they have the power to take down anything. But what about your depressive psychosis and numerous breakdowns since you slumbered out of your drunken New Years parties? What about your trading accounts that got all those margin calls and you hit that dirty linoleum floor with a cheap bottle?

    Were those fears really well founded and real ? Read these minutes of Feds reports and and tell me:

    From Investors Business daily 2/20/2008:

    "The Federal Reserve on Wednesday lowered its estimates for U.S. growth while also raising its inflation outlook. The day’s economic data backed up those troubling forecasts.
    But stocks rose as policymakers signaled that they’ll set aside concerns over price pressures for now.
    The Fed expects the U.S. to grow 1.3%-2% this year, down from its October forecast of 1.8%-2.5%. It also sees a bigger rise in unemployment to 5.2%-5.3%.
    The Fed cited the intensifying housing slump, tighter credit conditions, financial market turmoil and higher oil prices.
    “Economic activity had decelerated sharply in recent months,” according to minutes from the Fed’s Jan. 29-30 meeting.
    The Fed cut rates by a half-point at that meeting — a week after an emergency 75-basis-point ease.
    Housing starts rose 0.8% to an annual rate of 1.012 million in January, the Commerce Department said Wednesday. But that’s just above December’s 16-year low. Single-family starts fell for a 10th straight month, to a 17-year low.
    Building permits, an indicator of future activity, sank 3% to an annualized 1.048 million, the lowest since November 1991.
    “We’re going to see continued weakness in home building for the next few months,” said Scott Brown, chief economist at Raymond James. "
  2. dinoman


    We live in a new and improved world were recession only last a few months and the market correct 15 to 30% in a few months.

    Now the world is as peachy as can be!

    Quit watching the news and only watch the tape.

  3. Yeah that wiped out lot of thinly capitalized daytrading accounts in the last 6 weeks ..