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Title: Is the USA is in a recession because of high gas prices?
Source:
clarionledger
URL Source: http://www.clarionledger.com/apps/p ... D=/20061102/BIZ/611020363/1005
Published: Nov 2, 2006
Author: USA Today
Post Date: 2006-11-02 15:56:01 by TLBSHOW
Keywords: None
Views: 22886
Comments: 71
Economy slowing; recession in 2007? WASHINGTON — There is little doubt the economy is slowing. What is unclear is how long the decline will last or how deep it will be. The latest evidence of a slowing economy came Wednesday in reports showing a dip in the rate of growth in the manufacturing sector and a further decline in housing construction. Also on Wednesday, Merrill Lynch warned clients that its "recession-risk indicator" is now pointing to a 51 percent chance of a recession in the next year, the highest such odds since the last recession in 2001. The indicator has only twice hit the 51 percent line without being followed by a recession, Merrill Lynch chief North American economist David Rosenberg said in a report titled, On a Knife's Edge. The question of whether there will be a recession is "still a tough call," he says. But "what the indicator represents is, at a minimum, a significant slowing in growth." Joel Naroff of Naroff Economic Advisors says there are still enough factors in the economy's favor to keep it afloat. In particular, job growth is still solid, and wages are rising while interest rates are low, historically speaking. But that doesn't mean the economy is poised for a big takeoff. "I'm not concerned about a recession at all, but I do think that we could be looking at (subpar) growth ... this quarter and the first half of next year," he said.
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#24. To: All (#0)
High Gas Prices Hike Auto Registration Fees WISC, WI - Nov 20, 2006 ... He admits it's his longest trip in a while. When gas prices reached above $3 a gallon the family stayed home as much as possible. ... High Gas Prices Grounding Some for the Holiday http://6abc.com, PA - Nov 20, 2006 ... Five years ago few of us would have thought we'd be glad to see regular gas prices hovering over two dollars a gallon. But here we are. ... Father of 3 struggles with high gas prices Sunbury Daily Item, PA - Nov 22, 2006 ... job in direct sales. "It's been a real bad year, with the low economy combined with gas prices," he said. To make money, Mr. Kemper ... Crude Oil, Natural Gas Prices Rising http://Playfuls.com, Romania - 5 hours ago The futures prices of energy commodities rose Tuesday, with high-quality crude ... to reduce foreign control over the nation's oil and natural gas assets, a ...
Wal-Mart and Applebee's are both going into a recession of sorts. Negative numbers. It could be because the sheeple returned 97% incumbents to their palaces on the Potomac. The sheeple want more of the same-old, same-old. They don't want change for the better, just the security of the status quo. The status quo gives the sheeple high gasoline prices. Actually, $4.00 per gallon would not bother me too much because it will reduce traffic.
London, England: Over 6 bucks a gallon.
Yes. And they're so uptight about it, they're driving on the wrong side of the road!
Funny.
Labor Department report Thursday that showed a surprising increase in claims for jobless benefits last week added uncertainty to the outlook for holiday sales. ........... To: MeneMeneTekelUpharsin Very true. Some have their heads stuck in the sand. 2 posted on 11/30/2006 9:07:10 PM EST by Dubya (Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father,but by me) http://www.freerepublic.com/focus/f-news/1746710/posts
Published: November 30 2006 18:42 | Last updated: December 1 2006 00:12 The dollar suffered sharp falls on Thursday, hit by reports of weak US business activity and a benign inflation picture. http://www.ft.com/cms/s/5f9c46dc-80a1-11db-9096- 0000779e2340.html
Oil Prices Rise Above $63 a Barrel Nov 30 11:26 AM US/Eastern By GEORGE JAHN Associated Press Writer Oil prices briefly shot above $63 a barrel Thursday in a rally that brokers attributed to technical trading, coupled with buying prompted by the approach of the Northern Hemisphere winter. Natural gas futures also climbed following the release of government data that showed a net withdrawal of natural gas from domestic underground storage facilities. Analysts are split over whether the recent surge in energy futures represents a correction for a market that had been trending lower since late summer, or if it is the beginning of a new upswing
#35. To: All (#34)
"...Since last summer, when the housing bust became unmistakable, interest rates on long-term bonds have fallen sharply. They’re now yielding much less than short-term bonds. The fact that investors are willing to buy those long- term bonds anyway tells us that these investors expect interest rates to fall. And that will happen only if the economy weakens, forcing the Federal Reserve to cut rates. So bond buyers are, in effect, betting on a future economic slowdown. "...How serious a slump is the bond market predicting? Pretty serious. Right now, statistical models based on the historical correlation between interest rates and recessions give roughly even odds that we’re about to experience a formal recession. And since even a slowdown that doesn’t formally qualify as a recession can lead to a sharp rise in unemployment, the odds are very good — maybe 2 to 1 — that 2007 will be a very tough year.
Top • Page Up • Full Thread • Page Down • Bottom/LatestHigh Gas Prices ARE DESTROYING THE ECONOMY - BUT GOOD
#27. To: TLBSHOW (#24)
#29. To: cwrwinger (#27)
(Edited)
Actually, $4.00 per gallon would not bother me too much because it will reduce traffic.
#30. To: Biff Tannen (#29)
London, England: Over 6 bucks a gallon.
#31. To: cwrwinger (#30)
#32. To: Biff Tannen (#31)
hi biffy - everything is just peachey,,,,but you have your head up your ass and can't see the truth - while i have the gift and God is going to destroy the US economy but f'ing good -
#33. To: All (#32)
Dollar slides as US business slows
#34. To: All (#33)
http://www.breitbart.com/news/2006/11/30/D8LNGCNG0.html
Replies to Comment # 34. New York Times 1 December 2006 Paul Krugman
Economic Storm Signals
End Trace Mode for Comment # 34.
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