Philly Fed prez: Recovery to start in second half of '09

Poindexter walking around with the perpetual Ron Burgundy massive erection. Yes, no one knows shit but you.

 

Know what you are talking about before you post articles.

I know you don't like it that I've been right about all this stuff. If you want to disagree with anything I've written, go ahead and point out my errors. You can't so you have to write stuff like the above.

 

I didn't say someone is wrong, you did... a broken clock is right twice a day, too.

If you espouse a point of view long enough, eventually you'll be right.

 

Somehow all these "experts" in charge manage to be a broken clock that's *never* right.

 

http://online.wSportsJournalists.com/article/SB123445757254678091.html

By KELLY EVANS and PHIL IZZO

Prospects for an economic recovery this year are fading.

Economists in the latest Wall Street Journal forecasting survey, while still mostly projecting growth in the U.S. gross domestic product by the third quarter, largely agree that a "second-half recovery"—a scenario that has been a common feature of most 2009 outlooks—is looking much less likely now than it did a few months ago.

 

The Atlanta Fed Prez Dennis Lockhart says that recovery will start "in the second half of this year".

Its always 'later in the year' with these guys.

http://www.frbatlanta.org/invoke.cfm?objectid=8F357FD3-5056-9F12-12A968839FA3CFB3&method=display

 

Of course, Lockhart said a year ago that the decrease in the Fed Funds rate should help stabilize the economy:

http://www.reuters.com/article/businessNews/idUSWAT00886420080208
"The liquidity injections and easing of monetary policy should help housing and financial markets stabilize and avoid an 'adverse feedback loop' in which a decline in housing prices fuels financial market volatility with spillover to the broader economy," Lockhart said.

---------

Lockhart described the recent deceleration of economic growth as "sharp" and noted that some analysts have seen a possibility of recession. However, he said his own outlook is for weakness in the first six months of 2008, followed by improvement in the final half of the year.

The people in charge of our economy are the Washington Generals of economic predictions.

 

A few more tweaks and we should be good to go.

Start 'er up Timmy boy

 

Can't this week. He's downloading Turbo Tax 2008.

 

The S&P 500 is now at January 1997 levels.

Adding a trillion a month to the debt should really get things going now.

 

EVERYTHING's "six months or so" with these guys, from both sides of the aisle.

Been that way, for YEARS.

Drawing down big checks for being kneejerking morons?

Where do I sign up? Couldn't do any worse.

 

And yet, look at the people on this board, who read this stuff, and actually take stock in it...

go figure