Wednesday, Nov 15, 2006

News from USA: Housing Downturn Leading To Recession?

Telegraph Online: US Prices Take A Tumble

Federal Reserve governor William Poole yesterday said the bank may soon have to make a judgment whether the softer data was a "sign of impending recession", the first time a governor has used the recession word in this context.

This article suggests a coming US recession and a decline in the value of the dollar; both are linked to the falling US housing market. Prices have been lowered in an attempt to liven consumers. Economists disagree over rising or falling inflation. Will the UK get this too?

Posted by talking rot @ 12:10 PM (486 views)
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1. kpjcomp said...

Impossible, the USA don't have Super Gordon to look after there economy!!

Wednesday, November 15, 2006 12:39PM Report Comment

2. Dohousescrashinthewoods said...

>> "falling fuel prices had made the retail sales figures look weaker than they really are"

As we know, this was a market manipulation by Goldman Sachs intended to boost approval around the mid-terms to keep their man in power.

So presumably fuel prices will rise as the effect wears off.

Does that mean that sales will appear to strengthen into Winter, allowing a claim that the worst is past and things are getting better?

Wednesday, November 15, 2006 01:04PM Report Comment

3. Hickman said...

Falling house prices in the UK is impossible!!! Prices here only go up particularly next year as we are expecting hundreds of thousands of millionaire Romanians coming to this country!! Banks are lending 125% the value of homes and 60-100 year mortgages available!! Fantastic opportunities in UK property market cheers everybody!!

Wednesday, November 15, 2006 02:28PM Report Comment

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