Put on your party hats!!!! WASHINGTON (AP) -- A new government survey finds the vast majority of the country reporting economic activity is stabilizing or improving, as the worst recession since the 1930s appears to be over. The Federal Reserve's snapshot of economic conditions backs predictions by Fed Chairman Ben Bernanke and most other analysts that the economy has started to grow again in the current quarter. In the new survey, all but one of the Fed's 12 regions indicated that economic activity was "stable," showed "signs of stabilization" or had "firmed." The one exception was the St. Louis region, which continued to report that the pace of decline in economic activity appeared to be "moderating." http://finance.yahoo.com/news/Fed-s...tml?x=0&sec=topStories&pos=main&asset=&ccode=
I think your part hat comment was sarcastic, but I'm not sure why... If most parts of your country are saying they are seeing economic activity stabilizing or improving, is that not indeed a reason to celebrate? Unless you're short of course.....
What a joke! And the people are eatting it up! Gold & silver went down and so did the mining companies. I cant believe the fed can just make a press release like that and people believe it. Dont people remember last week or so when unemployment CLIMBED. Did things stabilize in 1 week? What a bunch of fools they are. (both of them...the fed and the people that believe them)
sure..it's over,problems solved..oh wait... US job openings fall to lowest level in 9 years http://news.yahoo.com/s/ap/20090909/ap_on_bi_go_ec_fi/us_economy_job_openings
"The Fed's survey found that staffing firms in Atlanta, Dallas, Richmond, Cleveland, Philadelphia, Boston, New York and Chicago did report a "slight pickup" in demand for temporary workers" Thats because they fired the full timers to hire part timers!
Economic activity IS stabilizing, and the recession IS ending. These are facts that will be confirmed by positive GDP growth for Q3. By no means do I think things are rosy, but there is nothing in this article that I feel is a lie. The definition of a recession is not "tough times" or "high unemployment", it's negative GDP growth...which, by many estimates, has ended in Q3. That's a fact. And my friend, you are in NO position to call someone out for holding a viewpoint for a long time or agreeing with other bulls...especially when you have been wrong for so long now
The evidence is that economic activity is stabilizing not just in the US, but in the rest of the industrial world as well. Employment is lagging, which is the norm.
Indeed. And since the USA is/was (arguably) in some of the worst shape, I think it adds that much more credibility to the recovery.