Economists see end to US downturn

[eppur_se_muova]

Source: BBC

The US economy should emerge from recession by the late summer, according to economists from some of the country's top banks.

The American Bankers Association's Economic Advisory Committee has said it expects economic activity to increase by 0.5% between July and September.

But committee head Bruce Kasman said, "the economy will return to growth but not to health."

The bankers also said US unemployment would hit 10% early next year.



Read more: http://news.bbc.co.uk/2/hi/business/8104066.stm

[Fovea]

1. I doubt that.

Because rising gas and oil prices are already starting to hit the economy between the eyes.

[benld74]

2. Are these the same economists who MISSED the Recession?

[DJ13]

3. ......

[CreekDog]

4. pay close attention for it --because you won't notice otherwise

:eyes:

[Autumn]

5. yeah I am sure of it

jobs will appear, gas prices will go down and we will all be walking in sunshine. Piss in my ear and tell me it's fucking raining.

[valerief]

6. LOL! They'll do that, too, and won't think twice.

:rofl:

[DavidDvorkin]

7. By contrast, the DU consensus seems to be that we're all doomed.

[benld74]

9. No DD, this is gonna take time, in my opinion

I dont want some economists, whom are not named, from banks whom probably had some hand in the curent problem from saying, "Look over there! I see the end of the Recession!"

[Dark]

8. They're not saying it's going to magically become good again. They're just saying

it's going to stop getting worse in some sectors, and begin the recovery.

Make mistake, we have a long road in front of us. But they've been saying this recession will last for most of the year before getting better.

[Grinchie]

24. You're right, the Banks are doing great!

Military spending has never been higher! So those two sectors are doing just fine. Healthcare companies are also reaping the last windfalls they can, and the Petrochemical industry is jacking up prices just in time for some premptive war.

Yep, good times ahead. It's all over, move along, nothing to see here.

These people actually believe that people will sleepwalk right back into the Fraud that has wiped them out.

Good luck with that.

[Dark]

27. Umm, you might want to read up.

Pentagon spending is (albeit slightly) decreasing.

The banks are iffy, but not failing, which is a good thing.

We are trying to implement healthcare reform, but we're facing stiff oppositon from both parties.

Don't tell me you actually expected unicorns?

Tough times are ahead, but this country has survived in much worse situations.

[TheWatcher]

28. Umm, you might want to WAKE UP

The Banks are INSOLVENT and have been for MONTHS. Those "Record Profits" the ejaculated at you in the 1st Quarter and expected you to BUY at FACE VALUE? You can Thank Mark-To-Make-Believe Accounting for that.

Helo Ben continues to Monetize the debt and devalue the currency.

The only thing this Economy has been running on is Well-Crafted Propaganda and an Artificially Inflated Stock Bubble.

We need JOBS, not Jive Talk.

"WE" aren't implementing anything.

The so-called Leadership is serving you up another plate of Dog Shit and telling you it's Godiva Chocolate. People need affordable Health CARE, not INSURANCE.

"Don't tell me you actually expected unicorns?"

No, that's about the level of lame, apologist, talking point pap I've come to expect from people like you.

"Tough times are ahead"

The ONLY truthful thing in your Post.

As for the Pentagon, if their spending IS decreasing, it's only because they have finally gotten around to spending the $2.3 TRILLION that went missing.

:puke:

And PLEASE don't bother responding, because I have no interest in reading or listening to more glazed over nonsense about how "nothing exists", and "I Believe, I Support, I'm Confident, Unicorns, Ponies, BLAH, BLAH, BLAH, Fucking BLAH."

Just save it for one of the other "Yes Bots" who is interested.

[ixion]

10. what a crock... and these idiots still have jobs?

amazing.

-- Option ARM loans still resetting through 2011

-- Banks (the same folks who wrote this article) have yet to write down the value of their assets.

-- Commercial property is on the verge of a meltdown.

-- Job losses continue.

-- Thanks to the bailouts, we're now 15 trillion in debt, and there is a good chance the US will default on this debt in the third quarter.


Recovery my arse.

[SpiralHawk]

11. "No freaking way. Smirk" - xCommander AWOL & Republicon Homelander Cronies

"Shock & Awe, baby. Smirk. Too bad - smirk - about you Americans."

- xCommander AWOL & Republicon Homelander Cronies

[shadowknows69]

12. Yeah that extra 26 bucks a month in my wife's paycheck has really saved our asses.

:eyes:

[Uben]

13. I've noticed an upturn in my Ebay sales

I have sold a lot of items this week that have been sitting in my Ebay store for months. Coincidence? Maybe, I don't know, but they are not nickel and dime items. I'm hoping it is a sign that people are beginning to loosen up on their spending. I, in turn, bought a new TV on-line this week. Every little bit helps.

[OhioChick]

14. *Cough* Don't "bank" on it. n/t

[nc4bo]

20. Nice one! nt

[zonkers]

15. Same ones who saw it coming?

[blue_onyx]

16. The recession won't be over by the end of summer

We'll be lucky if it ends this year.

"The bankers also said US unemployment would hit 10% early next year."

Early next year? Really? Whoever made this prediction is an idiot. Unemployment is already near 10 percent (9.4% in May). The automotive job losses which will effect almost every state will be enough to push the national unemployment rate over 10% by June (maybe July).

[Jack Rabbit]

17. Warning to politicians and businessmen:

There is no such thing as a jobless recovery.

[BeatleBoot]

18. 30 years of Reaganomics gone by late summer?

It is to laugh.

Nah, judging by my friends not finding gainful employment the past 3 years here in Michigan, I find that hard to believe.

(now comes Agent 86 from Get Smart with the, "Would you believe...."

[dixiegrrrrl]

19. Not according to to this:

U.S. likely to lose AAA rating: Prechter
http://www.reuters.com/article/newsOne/idUSTRE55E6BM20090615

and not accordin to Roubini, or Deninnger, Max Keiser, Jim rogrs, all the guys who really see clearly and are marveling at the sheep like reaction of the American public to the biggest
financial heist in history.

[TheWatcher]

29. "Youre just jealous", "Things are leveling out", It doesn't exist", "What, didn't get your Pony?"

"That isn't from a reliable source, because it doesn't make me feel good", "Baby Steps", "Grand Game Of Chess", "Green Shoots", "Showing Signs", "I Believe In the Fed", "Geithner is just getting a bum rap because Obama chose him", "Monetizing the Debt is Good", "Take The Crumbs and be Happy", "Debbie Downer", "You Want The Economy To Fail".......

There. Now "they" don't have to bother. :)

[dixiegrrrrl]

30. Very thoughtful. Ty.

:)

[xchrom]

21. i work at an ikea like priced furniture retailer in norcali --

and we've been a LOT busier.

i don't know what that means -- all i know is we notice changes almost universally before any economist does.

[bemildred]

22. Were these the same guys that failed to predict the depression?

Or did they hire some new ones?

[ConcernedCanuk]

23. Found a pic of your average "Economist"

.
.
.



yup yup

That's where they get their ideas from

[tom_paine]

25. Oh, I guess they got it right THIS time..unlike all the other times.

:rofl:

I guess this means the "recession" :rofl: is going to last quite a bit longer, at least for the bottom 90%.

Of course, it's been obvious to me that for many years now the Economy Whore-Pundits' ONLY speak about the fortunes of the top 10% when they are speaking of the economy.

So, I guess that Great Heist of $8,500,000,000,000 has been a rousing success.

The "recession" :rofl: is going to end for the top 10%, and the rest of us serfs can go fuck ourselves. We do not exist in the M$M's deluded and false picture of The Empire.

[dysfunctional press]

26. what stocks are they trying to gin up to sell before it all goes to shit...?

THAT'S what we should be asking.