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The experts are saying our economy will grow in 2009

 
 
Reply Tue 10 Feb, 2009 10:50 am
From Reuters:
Quote:
Blue Chip poll cuts forecast for second half 2009
Tue Feb 10, 7:12 am ET

WASHINGTON (Reuters) – The recession-bound U.S. economy is still expected to resume growing in the second half of this year, but at an even slower pace than previously thought as consumers spend cautiously, the Blue Chip survey of 52 economists said on Tuesday.

A poll on February 4-5 for the monthly Blue Chip Economic Indicators February newsletter scaled back forecasts for second-half growth from those made in January but continued to predict the United States will come out of recession in 2009.

The Blue Chip economists now forecast a 0.8 percent gain in third-quarter U.S. gross domestic product, down from the 1.2 percent gain they estimated in January. Fourth-quarter growth is seen at 2.0 percent rather than 2.2 percent.

The economy officially slipped into recession in December 2007. Many economists expect the combination of a sinking labor market, falling stock prices and a severe housing downturn will make it the most severe recession in decades.


IMHO, I believe they are wrong; we are going to lose ground this year into 2010. There is no way that any stimulus/recovery plan will turn around the loss of jobs this year. When we lost 600 thousand jobs last month, it also meant we did not create the necessary minimum jobs to meet the demand of new workers.

As this financial crisis grows, more families will be losing their jobs, homes and health care insurance. Demand for social services will increase at a time when government is cutting back. Soup kitchens are already unable to meet the demand, and donations are down.

Unless government is there to help the majority of Americans losing their jobs and homes, the increased demand cannot be met by nonprofit organizations.

The delay in this stimulus/recovery plan will only exacerbate what has turned into a nightmare for many families. It's the worst of times to be playing politics, and "I gotcha" mentality. It's easy to delay assisting other people when you have a paycheck and roof over your head. It's not easy to find shelter in winter.
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Type: Discussion • Score: 5 • Views: 509 • Replies: 21

 
  1  
Reply Tue 10 Feb, 2009 11:00 am
cicerone imposter wrote:

The delay in this stimulus/recovery plan will only exacerbate what has turned into a nightmare for many families. It's the worst of times to be playing politics, and "I gotcha" mentality. It's easy to delay assisting other people when you have a paycheck and roof over your head. It's not easy to find shelter in winter.


The democrats have the votes for this package. Why are they holding things up. They don't need Republican votes do they?
  1  
Reply Tue 10 Feb, 2009 11:03 am
They do need republican votes to get a majority, and Obama has said many times he wants it to be bipartisan.
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Reply Tue 10 Feb, 2009 11:34 am
They need 2 in the Senate, and they have them.

So are you saying that Obama is holding this up? He doesn't NEED any more bipartisan support than he has right now. So if HE chooses to wait until the majority of republicans support this than that is HIS choosing. Personally I hope he waits 4 years.
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Reply Tue 10 Feb, 2009 11:36 am
Thhe GOP should realize that theyve shot themselves in the dick. By not being part of a recovery plan, they appear obstructionist and disorganized. If the stimulus works, the GOP will be out of mit, If it fails, they will be bblamed for not participating enough to make it work. THEY CANNOT WIN (IMHO)


I think 2009 will be a stock buying opportunity for Blue Chips.
  2  
Reply Tue 10 Feb, 2009 11:43 am
I don't get it though FM...what are they obstructing?

The Senate Democrats have 61 votes, enough for cloture. The House has plenty of votes. They aren't obstructing ANYTHING.

Democrats just want them to vote 'yay' for political reasons (ironically, the very thing that Dems accuse Pubs of doing).
View Profile BigTexN
 
  1  
Reply Tue 10 Feb, 2009 11:44 am
Quote:
If the stimulus works, the GOP will be out of mit, If it fails, they will be bblamed for not participating enough to make it work.


I heard the exact opposite this morning about Obama's lack of bipartisan support.

Just like in Texas Holdem...Obama has gone "All In" with his presidency and his party.

If it works, he will be as famous as FDR.
If it fails, the burden rests solely on dems shoulders and he will be ridiculed more than Jimmy Carter.
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  1  
Reply Tue 10 Feb, 2009 12:47 pm
I agree, the stock market should bring good offers to us, but I'd wait for awhile yet.
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  1  
Reply Tue 10 Feb, 2009 12:49 pm
The moderate democrats are also voting against this plan. I do not believe there will be too many (if any) 100% approval on any legislation brought forward by Obama.
  0  
Reply Tue 10 Feb, 2009 12:56 pm
There were 11 democrats in the house only who voted against the bill (my hereos). Not enough to obstruct anything.

Calls of obstructionism are simply FALSE.
  1  
Reply Tue 10 Feb, 2009 12:59 pm
It passed the Senate, 61/36 with three republicans voting for.
  1  
Reply Tue 10 Feb, 2009 01:07 pm
See, no obstruction.
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View Profile kuvasz
 
  0  
Reply Tue 10 Feb, 2009 07:08 pm
maputz said
Quote:
There were 11 democrats in the house only who voted against the bill (my hereos). Not enough to obstruct anything.

Calls of obstructionism are simply FALSE.


You know for a college educated guy you're an awfully ignorant and clueless person.

The Republican Senate leaders made it clear that they would fillibuster the stimulus package and force the bill to get 60% of the seated senators for the bill to pass.

That is prima fascia evidence that the Republicans were obstructionist.

So you don't even know enough about the form of government you live under to have a competent opinion on this matter.

On the other hand, when the Democats did not like things they considered anathema, they did not use the fillibuster, regardless of their potential of defeating what the were against because they respected the process. Cite the confirmation of Clarence Thomas who was confirmed by a 52–48 vote, and would not have been seated on the court had the Democrats fillibustered.

The conclusion is that while the Democrats act civil and respect institutional history, the Republicans act like childish little thugs.

Which is why you like the latter and I like the former.

ps: Do yourself and the rest of us a favor, read the US Constitution BEFORE you engage in discussions on constitutional issues, because you look like a fool.
  1  
Reply Tue 10 Feb, 2009 07:12 pm
Oh please...I can't even believe I wasted time reading your post.
View Profile parados
 
  2  
Reply Tue 10 Feb, 2009 08:10 pm
Your time might have been better spent reading the constitution like kuvasz suggested. Wink
  1  
Reply Tue 10 Feb, 2009 08:27 pm
shucks .... good one!
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  1  
Reply Tue 10 Mar, 2009 04:04 pm
Back to revisit this thread, it doesn't look too promising for much to happen this year. I suspect, we may see some improvement towards the end of this year, but it won't be enough to bring confidence back.
  1  
Reply Tue 10 Mar, 2009 04:35 pm
"EXPERTS"? Who the hell called this in the first place? I recall some psychic on the George Noory show saying that 2007 was gonna be a year of a grfeat Depression. She was almost right on.

John McCain 2008 campaign--"The fundamentals of the economy are sound" (Dont buy a used car from that dude)
View Profile dlowan
 
  1  
Reply Tue 10 Mar, 2009 04:37 pm
I'm regularly reading chicken entrails on this one because I consider them more scientific.
  1  
Reply Tue 10 Mar, 2009 04:44 pm
Do you read these entrails after eviscerating the chook, or do you read them ...uhh.... in-situ?
 

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