"It's clear over the last year-and-a-half the economy has downshifted and things are not doing quite as well. But having said (that), I don't think we're on the precipice of a recession," said Martin Regalia, vice president for economic policy at the U.S. Chamber of Commerce.>>
US CHAMBER OF COMMERCE??? Well gosh golly that sounds like an unbiased source of information to me. These are the same folks, incidently, that viamently denied that there was a problem in the housing market AT ALL, until there was no way to deny it anymore!!
"I think given the actions of the Fed -- what they've done so far and what they're likely to do in the future -- we're not going to see that broad-based contagion and therefore we're going to see the economy weather that storm," Regalia told reporters in a briefing.>>
In other words, he DENIES THE DATA THAT HAS ALREADY COME OUT via banks and brokerages all around the world! WHY DO YOU THINK THE MARKET CRATERED AGAIN TODAY?? "Not spreading to broader housing or overall debt markets"?? Then why are markets requiring massive cash infusions simply to keep liquid enough to do business?? These people have fancy educations and are getting paid with your tax money, and they are either complete idiots or they live in a world of denial...probably a little of both. The American people deserve better.
Regalia said he expected the Federal Reserve to cut interest rates at its regular monthly meetings in September and October, but concerns about inflation would prevent the Fed from embarking on a longer-term easing campaign.
He said mortgage market problems will help trim U.S. economic growth to an annual rate of around 2 percent by the fourth quarter from about 4 percent in the second quarter.
"We're not going to get back to the 3-plus percentage growth rate, I don't think, until this housing issue is behind us, and that's likely to be the beginning of next year to the middle of next year," Regalia said.>>
Yes, please...let's listen to these morons that have consistantly and repeatedly GOTTEN IT COMPLETELY WRONG...jeez
No comments:
Post a Comment