According to today’s report on MarketWatch.com:
The U.S. economy contracted in the fourth quarter of 2007, the first quarter of negative growth since the 2001 recession, the Commerce Department said Thursday in its annual revision to gross domestic product.
Real GDP fell 0.2% in the quarter; a 0.6% increase had previously been reported. Many economists who [...]
http://www.youtube.com/watch?v=x4OOCReeLWo
Now playing everywhere.
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CNNMoney.com: Bear scare on Wall Street
Briefing.com: Weekly Wrap
The Vanguard Group: Economic Week in Review
InvestmentNews: Not your average bear market
Americans are becoming ever more pessimistic about economic conditions.
The Conference Board Consumer Confidence Index declined to it second lowest level ever in terms of consumers expectations. Watch the video interview of Lynn Franco to get a more enlightening perspective.
According to the Conference Board’s website:
Says Lynn Franco, Director of The Conference Board Consumer Research Center: “The [...]
Market speculation isn’t easy.
When I made my decision to move my retirement portfolio into cash a little less than two years ago, I jumped the gun and got out too soon. If I’d have waited just a few months, I could have gotten out at a higher level. But, you know what they say.. hindsight [...]
Here we go again.. the markets took another big plunge today.
Perception plays a BIG role in the stock market and it seems investors have come to terms with the “R” word and are fleeing to (what’s now considered) safer investments.
But, this is all great news for bears (like me) who’ve been forecasting a recession for [...]
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Recession Evidence
Being the diligent recession-watcher that I am, I just wanted to plug the authors over at Econbrowser, James Hamilton and Menzie Chinn.
Yesterday, one of the authors, James Hamilton, posted a very compelling argument in his article, “Is this a recession and do we care?“, that we’ve already reached a recession.
According to Professor Hamilton:
I argued that [...]