mind you, newsweek has been touting a recession since at least Feb 08, if not before.
couldn't get their guy in the white house without it.
each one must do their part ...
newsmedia preaching recession for a year or two is bound to make one happen.
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/01-27-2008/0004743485&EDATE=
Originally posted by zeeblebot"Newsweek looks at whether a U.S. recession will pull the rest of the world down with it
mind you, newsweek has been touting a recession since at least Feb 08, if not before.
couldn't get their guy in the white house without it.
each one must do their part ...
newsmedia preaching recession for a year or two is bound to make one happen.
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/01-27-2008/0004743485&EDATE=
Fareed Zakaria on the U.S. and global economy connection now: 'However it plays out, one thing is sure: the rest of the world will cushion America's slide' "
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Robert Samuelson on the Fed and Wall Street: 'The present panicky climate
results, at least partly, from all the invective heaped on the Fed'
NEW YORK, Jan. 27 /PRNewswire/ -- The Great Global Market Freak-Out of 2008 has everyone asking whether the U.S. -- already on the road to recession -- is entering into a protracted period of economic trouble where jobs will be slashed, prices will continue to rise and the dollar will keep falling; and if so, whether the declining U.S. economy will pull the rest of the world down with it, writes Senior Writer Daniel Gross in the current issue of Newsweek. A recession is defined as a widespread contraction in economic activity lasting more than a few months, and because of the lag in financial data, recessions typically aren't officially declared until long after they start. In short, the U.S. could already be in one. "Though world markets stabilized by late last week, buoyed by the Fed's rate-cut action and a proposed stimulus ackage of $150 billion that was hastily cobbled together by leaders in the House of Representatives and President Bush, the question remains: how ugly will it get, and when will it end?" Gross writes.
Gross examines those questions, along with Contributing Editor Robert J. Samuelson and Newsweek International Editor Fareed Zakaria in the February 4 cover "Road to Recession," (on newsstands Monday, January 28).
The disappointing jobs and retail-sales data from December indicate the economy has stalled. Given the complex financial machinery that now connects the world's market, will a U.S. recession quash the ooming growth we've seen in emerging markets like India and China and tip European economies over the edge? "We are, of course, far short of a Great Depression now," said Nouriel Roubini, professor of economics at New York University's Stern School of Business. "But in terms of systemic risk and the risks of a financial meltdown, you almost have to go back that far to find a good analogy."
Gross looks at how a U.S. recession may affect the global economy, if at all. "On the one hand, the United States, the world's largest economy and the destination of many of the world's exports, may be on the brink of recession. But at the same time, the global economy -- after a remarkable five-year period in which almost every major economy has been growing in concert -- is showing signs of what economists call 'decoupling.' What decoupling means is this: even as the globe's economic engine, the United States, has stalled, optimists believe the train cars it has been pulling for the last several decades -- especially emerging markets like India and China -- may finally be able to chug along under their own power."
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