Bush: U.S. is not headed for recession

[cbressler1976]

Bush: U.S. is not headed for recession
President rejects any further stimulus measures for now



WASHINGTON - President Bush said Thursday the country is not recession-bound and, despite expressing concern about slowing economic growth, rejected for now any additional stimulus efforts. "We acted robustly," he said.
http://www.msnbc.msn.com/id/23389508


Is he in denial??

[Julian4jc]

Hope he's right, i belive the media has been feeding us too much negativity, it's almost as if they want a recession for their personal gains.

[jds6958]

previous GDP was 4.6% and this qtr. reading was .6%. Throw in real inflation and we are already moving backwards. He better be careful or Air Force 1 may turn into a pumpkin at midnight tonight...

Seriously, this is pure spin. Bernanke tried his best to spin as well today. The last time the spin masters were in concert we were a week away from major market downtrend events.

The psychological pressure has surely mounted this week.

Dollar just broke serious support and is at new lows.
Inflation is at new highs
Gold just hit $970 for new highs, just $30 short of the feared $1k
Oil is on fire with new highs, 107 - 110 coming soon
Grain is making headlines with new highs daily like it is going to the moon
Market is heading back into it's downward path
And those are just the the biggies...

[saulteux]

Bush: U.S. is not headed for recession
President rejects any further stimulus measures for now




http://www.msnbc.msn.com/id/23389508


Is he in denial??

Actually, I think he's trying to stave off catastrophe. I think their plan was to somehow manage to phase in lower interest rates over a long period of time in order to save investment firms which found themselves leveraged to the hilt in debt.

The plan has backfired, I believe, and the Fed and the Bush Administration have seen/learned something, coming just over the horizon that has seriously freaked them out. The spin is an attempt to mitigate the damage coming.

Unfortunately, I've no clue as to what it is.

[No2Flesh]

Hope he's right, i belive the media has been feeding us too much negativity, it's almost as if they want a recession for their personal gains.


I agree with you there.

As for me and my family we are doing better than ever actually.

Thank you Lord.

[Holding Pattern]

Ostrich with head in sand? It's a common response when it seems impossible to stop the momentum...

[Roland]

This is another spin to the American public. All indicators show our economy is in deep trouble. We are $9 trillion in debt and we don’t have any intentions to quit borrowing and spending or to pay it off. As the old saying goes “the chickens are coming home to roost”.

[Rae]

This is another spin to the American public. All indicators show our economy is in deep trouble. We are $9 trillion in debt and we don’t have any intentions to quit borrowing and spending or to pay it off. As the old saying goes “the chickens are coming home to roost”.


Yeah and they are laying some mighty expensive eggs now.

[scott00049]

Bush: U.S. is not headed for recession

That's because we're already in one.... :) How can we be headed for something we're already in??????? (no i'm not an economist, so please don't lecture me about the true definition of recession/depression/stagflation etc.) all I know is my money doesn't go as far as it needs to, and it used to.

[Kelly4C]

We are living out here in the real world. We KNOW how bad the economy is. We don't need Bush to tell us it isn't. IMO this is pure spin.