A Brit Thinks US in a Recession

[Blessedhope777]

With help like this who needs enemies!!!!!! Thanks Britain!

http://www.reuters.com/article/businessNews/idUSL2474133320071024?feedType=RSS&feedName=businessNews&rpc=23&sp=true


LONDON (Reuters) - The United States has entered a recession, according to highly-regarded investor Jim Rogers, who told Britain's Daily Telegraph newspaper on Wednesday he was switching out of the dollar and into yen, the yuan and the Swiss franc.

The veteran investor, who predicted the 1999 commodities rally, also said he was still bullish about surging Chinese stock markets despite worries over a bubble.

Fears are growing over the health of the U.S. economy after the fallout from the subprime mortgage market crisis and the global credit crunch it triggered.

The U.S. Federal Reserve has already slashed borrowing costs by 50 basis points to 4.75 percent to try and shore up the world's biggest economy and is widely expected to lower interest rates again next week.

"The US economy is undoubtedly in recession," Rogers told the Telegraph in Hong Kong in an article published on its Website.

[SummerSailing81]

I wish someone would tell our government that! All I know is the price of everything keeps going up, but we aren't making more money. Beefaroni explained that this was called inflation. Does inflation go hand-in-hand with a recession? Obviously, I'm "economically challenged".

[MoreThanReady]

I wish someone would tell our government that! All I know is the price of everything keeps going up, but we aren't making more money. Beefaroni explained that this was called inflation. Does inflation go hand-in-hand with a recession? Obviously, I'm "economically challenged".


Recession and inflation do not normally go hand in hand. Usually in a recession you see prices decline because demand is declining.

We are not in a recession by a long shot.. if you think we are, just go to Outback. We went to longhorn steakhouse this past saturday and they were packed liked always.

People are confusing the fact that the growth in the U.S is returning to normal with a recession. When you see unemployement hit 6% then we have a problem.

People keep talking about how BAD the housing market is, but all my friends that sell houses tell me that honestly, things are returning to normal, and that in some markets (like Florida) builders way over built so those areas the housing market has crashed.

IN the 3rd Qtr this year, the U.S had 3% growth.. that aint recession.

Yes, prices are going up because the price of oil is so high, so inflation is kicking in. Add to that the fact that the U.S is subsidizing ethonal production, which is encouraging farmers to switch food grops to crops to produce ethonal.

now if you got laid off, you think we are in a recession, but in my part of the country, there most isn't anything close to a recession.

The plus side to a weaker dollar is the fact that it is finally starting to kick in and the U.S is starting to export more goods and services because buying 'made in U.S.A' is now cheaper.. (and we won't even get into our horried tax code that puts all our manufacturers at a disadvantage )..

enjoy..

[JenGC]

I wish someone would tell our government that! All I know is the price of everything keeps going up, but we aren't making more money. Beefaroni explained that this was called inflation. Does inflation go hand-in-hand with a recession? Obviously, I'm "economically challenged".

From what I understand from my economics teacher, a recession or depression is considered after 2 consecutive quarters of economic decline. I depression is if the decline is dramatic or lasts longer than the 2 quarters.

"For example, Keynesian economists and Real business cycle theorists would all disagree about the precise cause of the business cycle breakdown, but most would agree that purely exogenous factors like the price of oil, weather conditions, or a war could by themselves cause a temporary recession, or, conversely, short term economic growth. "

That is from wikipedia. http://en.wikipedia.org/wiki/Recession

"Newspaper columnist Sidney J. Harris amusingly distinguished terms this way: a recession is when you lose your job; a depression is when I lose mine."

I thought that was funny....kinda.

[Beeferoni]

Here's how he could be right.

If the 4th quarter of 2007 turns out to be a loss in GDP, and the first quarter of 2008 continues that trend, then we would be in a recession right now.

Of course, we won't know that until March 30, 2008.

[Vonne]

With help like this who needs enemies!!!!!! Thanks Britain!

:idunno Whats wrong with that?