Forecasters: US Economic Recovery In Q3 2009

[Triana]

The U.S. economy is headed for two quarters of negative growth in the first half of 2009, according to 43 forecasters surveyed by the Federal Reserve Bank of Philadelphia. The forecasters project that real GDP will contract at an annual rate of 5.2% in the first quarter and 1.8% in the second quarter of 2009. The survey participants expect economic recovery to begin in the third quarter of 2009. On a year-over-year basis, growth is expected to be -2.0% in 2009 and 2.2% in 2010. See chart above.

http://www.dailymarkets.com/economy/2009/02/17/forecasters-us-economic-recovery-in-q3-2009/

[seemslikeadream]

1. BUY BUY BUY

NOT NOT NOT~

[MadHound]

2. Gee, can I have some of what they're smoking?

I don't know who these forecasters are, but most of the economic experts I've heard are basically writing off 2009 and hoping things start to recover in 2010. Some are even predicting that this is the beginning of our "lost decade", which is what happened to Japan's economy in the '90's, it disappeared.

So folks are trying real hard to talk up this economy. The trouble is we're an economy that is consumer based. When consumers don't buy, jobs are lost, leading to more people not buying, etc. etc. Not to mention that our jobs are for the more part service based, not manufacturing based. Therefore we can't build nor buy our way out of this mess.

Frankly we're in deep shit, and it's getting deeper.

[jannyk]

3. OK, I'll buy that.......

...as long as the '48' are on record as having accurately predicted the financial meltdown and current sorry state of affairs we are in now.

What were they predicting a year or so ago?