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6 Votes
4 Comments
US economy suddenly appears vulnerable - Yahoo! News
News Type: Event — Seeded on Sun Mar 4, 2007 11:35 PM EST
Article Source: Yahoo! Newsadvertisement
US economy suddenly appears vulnerable
WASHINGTON (AFP) - The US economic expansion suddenly seems more fragile than thought just weeks earlier, after a sharp downward revision to the past quarter's growth and renewed fears about the slump in real estate.
The latest revision to US gross domestic product (
GDP) showed the world's largest economy expanded at a tepid 2.2 percent pace in the fourth quarter, instead of the 3.5 percent growth spurt in the official estimate a month earlier. That was the sharpest downward revision in a decade, and was attributed to weak business spending and a drawdown of inventories from cautious firms. . . . Manufacturing has been sluggish, highlighted by the 7.8 percent drop in durable goods orders last month.
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- Public Discussion (4)
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{"commentId":566842,"authorDomain":"profwork"}
What caught my attention is how sharply lower was the fourth quarter growth rate, 2.2%, contrasted with the official estimate of 3.5% a month earlier. A decline, if not collapse, of expectations of growth, given drop in durables and in housing, can reverberate through economy.
How vulnerable is the economy?
{"commentId":566842,"threadId":"81905","contentId":"598469","authorDomain":"profwork"}
- 1 vote
#1 - Sun Mar 4, 2007 11:39 PM EST{"commentId":566853,"authorDomain":"profwork"}
Just caught related news re 2.81% decline in Japanese stock market. Contagion.
{"commentId":566853,"threadId":"81905","contentId":"598469","authorDomain":"profwork"}
- 1 vote
#2 - Sun Mar 4, 2007 11:49 PM EST{"commentId":567125,"authorDomain":"PeterMerel"}
What do you expect?
9 trillion in US government debt, another 40 trillion in US personal and business debt, 100 trillion in derivatives ... how many times US GDP is $150 trillion USD?
Without a manufacturing base, with accelerating deflation of the US housing bubble, with its only major south easter seaport in permanent SNAFU and with Europe, Russia, China and India dumping US currency as fast as they dare, the US economy looks like Wile E. Coyote running in mid-air.
{"commentId":567125,"threadId":"81905","contentId":"598469","authorDomain":"PeterMerel"}
- 5 votes
#3 - Mon Mar 5, 2007 5:40 AM EST{"commentId":567206,"authorDomain":"winsomecowboy"}
apt image. admirable.
{"commentId":567206,"threadId":"81905","contentId":"598469","authorDomain":"winsomecowboy"}
- 1 vote
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