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U.s. Majority Sees Recession Coming

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U.S. Majority Sees Recession Coming

http://money.aol.com/news/articles/_a/us-m...9990001?ncid=NW ^ | 8-3-07

Posted on 08/03/2007 11:58:17 AM PDT by Hydroshock

NEW YORK (Aug. 2) - Just over two-thirds of Americans believe the country is either already in recession or headed for one over the coming year, according to a new poll conducted jointly by The Wall Street Journal and NBC.

Nearly half the survey respondents, 46 percent, believed a recession was already under way.

The conviction comes despite a 3.4 percent rebound in economic growth during the second quarter, according to Commerce Department data released last week.

A recession is generally defined as two consecutive quarters of declines in gross domestic product.

Turning points in the economy are notoriously difficult to predict. In 2001, many Wall Street and government forecasters waited until growth had already turned negative before acknowledging a period of contraction.

To: Hydroshock

I have been in construction for 30 years and I have never seen the economy as strong as it is right now.....This is a once in a lifetime opportunity for people to secure their retirement income.

To: Hydroshock

"Here’s a hint..

Indeed. It would also appear that a lot of people don't have a clue as to how the market looks forward, the FMOC and how they can influence, no control these things and my favorite; those that don't understand the business cycle or think that this time around it's been revoked.

Bless their hearts, last in, last out. I should send them all thank you cards.

As Erin Burnett can tell you, the stock market is at all time high, inflation is low, interest rates are low and the economy is humming along nicely. I don't get why people come up with such nauseous doom and gloom bilge.

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Then theres a recession coming, given that its a consumer led economy

the US is less consumer-led than WE are.

...where does that leave old blighty.......our economy is now,thanks to several generations of numpties in politics,a one-trick pony.

if someone cuts off ONE leg,this beast is for the knackers yard.

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