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TexasTowelie

(111,313 posts)
Fri Apr 12, 2013, 07:28 AM Apr 2013

Economy Bears Turn Bulls Seeing 3% GDP for U.S. Few Saw in 2012

Source: Bloomberg

Bearish forecasts for the U.S. economy are giving way to more upbeat views of the nation’s ability to weather federal spending cuts and tax increases.

At Morgan Stanley in New York, Chief U.S. Economist Vincent Reinhart now sees a 3 percent pace of growth in the first quarter, up from 0.8 percent in December. JPMorgan Chase & Co.’s Bruce Kasman raised his forecast to 3.3 percent from 1 percent.

“What happened at the beginning of the year was a genuine surprise in terms of how well the economy held up,” Kasman, the firm’s New York-based chief economist, said in an April 5 conference call.

Gross domestic product probably climbed at a 3 percent annualized rate from January through March, according to the median forecast in a Bloomberg survey of 69 economists from April 5 to April 9. That’s up from the 2 percent gain projected last month and 1.6 percent in December.

Read more: http://www.bloomberg.com/news/2013-04-11/economy-bears-turn-bulls-seeing-3-gdp-for-u-s-few-saw-in-2012.html

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Economy Bears Turn Bulls Seeing 3% GDP for U.S. Few Saw in 2012 (Original Post) TexasTowelie Apr 2013 OP
All for the Wealthy Elite and Wall St. while Fucking the Middle Class FreakinDJ Apr 2013 #1
What? Didn't you get your automatic 3% pay reduction? AAO Apr 2013 #3
Dr Doom seems to have gotten it wrong once again.. DCBob Apr 2013 #2
I hope you realize caseymoz Apr 2013 #5
So you think the "doom" is still coming later this year?? I doubt it. DCBob Apr 2013 #9
I probably read that Roubini diatribe when it was written Kolesar Apr 2013 #7
It don't mean diddledo..... AnneD Apr 2013 #4
how very convenient magical thyme Apr 2013 #6
I wondered why there were no more homeless people. They all got jobs. L0oniX Apr 2013 #8
OK, so when . . . Brigid Apr 2013 #10
 

FreakinDJ

(17,644 posts)
1. All for the Wealthy Elite and Wall St. while Fucking the Middle Class
Fri Apr 12, 2013, 08:06 AM
Apr 2013

as if any of us here will be any thing but an Extremely Low Wage Slave from the current economic policies

DCBob

(24,689 posts)
2. Dr Doom seems to have gotten it wrong once again..
Fri Apr 12, 2013, 08:20 AM
Apr 2013

From July 2012..

"Roubini is back with his prophecies of gloom and foreboding for the global economy. Dr. Doom has taken to the airwaves, warning policymakers as well as the public that there is a high probability that a perfect economic and fiscal storm will erupt in 2013. Essentially, Roubini's forecast is as follows: Until the November U.S. presidential elections of this year, there will be a deceptive calm before the storm, as every major economy plagued with severe fiscal problems continues to kick the can down the road. Come 2013, there will be a convergence of several major negative metrics. These include the worsening eurozone debt crisis, likely leading to the exit of Greece from the monetary union. China will face a hard economic landing, and the United States -- its economic growth and job creation performance already anemic -- will face a high probability of a renewed economic recession, particularly in a political environment favoring austerity. In addition to those economic factors, there is one other element in the turbulent brew that comprises Roubini's prediction of a perfect economic storm in 2013: Iran. If the Iranian nuclear issue is not resolved peacefully, which at present seems highly doubtful, there is a high probability of a military conflict occurring in the region, which will add further strains upon the global economy, particularly if oil prices spike to highly elevated levels."

http://www.huffingtonpost.com/sheldon-filger/dr-doom-redux-roubini_b_1695724.html

caseymoz

(5,763 posts)
5. I hope you realize
Fri Apr 12, 2013, 09:55 AM
Apr 2013

That this is for one quarter, the quarter before sequestration took effect?

And I hope you also notice all of the forecasts are talked about in terms of probabilities? And that previous performance means nothing about the present? The economic condition of the US and the world economy is still alarming.

Moreover, only a very small number of people are receiving any benefit from that growth. So far, those people have not been generous about jobs or startup investment. And they're pretty driven to cut away the last of the safety net.

If there was ever any trickle down before, they've now fixed those leaks.

DCBob

(24,689 posts)
9. So you think the "doom" is still coming later this year?? I doubt it.
Fri Apr 12, 2013, 05:00 PM
Apr 2013

Of course predictions are probabilities but this guy has been predicting gloom and doom for years... at some point you have call bull%@$!

Furthermore, we are all well aware the "booming" economy is not helping everyone. But Dr D is not talking about that he is talking about the economy in general. He has been wrong so many times in the past few years. The only thing he got right was the 2008 crash. A broken clock comes to mind.

Kolesar

(31,182 posts)
7. I probably read that Roubini diatribe when it was written
Fri Apr 12, 2013, 10:32 AM
Apr 2013

I am sure he didn't advise his kids to join the Army to fight the evil Moslems.

AnneD

(15,774 posts)
4. It don't mean diddledo.....
Fri Apr 12, 2013, 08:56 AM
Apr 2013

unemployment is too high with no recovery in site and we are looking at a new spike in foreclosures. All the fundamentals are weak. They are trying to get a new group of suckers to put money in the market. TBTB are rigging the market worse than any communist central planning committee and Pravda is duly reporting the party line.

 

magical thyme

(14,881 posts)
6. how very convenient
Fri Apr 12, 2013, 10:02 AM
Apr 2013

"...more upbeat views of the nation’s ability to weather federal spending cuts and tax increases"

says the cynic in me.

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