Quieting the R-word: US economy proving robust

Washington - In television lifestyle reports, predictions by respected economists and even the US presidential race, there has been no escape for months from the dreaded R-word: recession. It has been nearly a foregone conclusion that the world's largest economy was slipping into recession, if the wasn't already contracting. But there was an abrupt change in the drumbeat this month, with warnings of economic peril becoming suddenly fewer and less threatening. 'Recession? Not so fast,' says the Wall Street Journal. By definition, two successive quarters of economic contraction spell recession. But already in the last three months of 2007 the US locked in a slim increase of 0.6 per cent, and for the first quarter this year statisticians announced the same rate of growth, at least in early estimates. 'A couple of months ago it seemed like we were on the abyss,' said Jay Bryson, global economist with Wachovia Corp. 'Things have changed. ... The numbers we've seen recently haven't been as bad as we were led to believe just a few months ago.' Unemployment figures are below those of past recessions. US consumer spending, the cornerstone of the economy, beat expectations for April, except for weak car sales. 'So far, most of the economic data outside of homebuilding and house prices have not met the recession forecasters' downbeat expectations,' Business Week reported. The US stock market, which often rebounds in the months ahead of an economic upturn, has rallied from its low point in March. Analysts attribute the possible dodging of recession to the US Federal Reserve Board's rapid loosening of monetary policy. Fed Chairman Ben Bernanke endured weeks of criticism from Wall Street coming into the new year for not doing more to steer the US clear of the impending crisis. But the Fed has dropped its prime interest rate from 5.25 per cent in September to now 2 per cent. At the same time, the US Congress and President George W Bush agreed to an economic stimulus package including more than 100 billion dollars in personal income tax rebates. Yet, this may not immediately brighten the confidence of US consumers. Petrol prices keep climbing, and US citizens are spending more of their income at the supermarket as food becomes more expensive. Meanwhile, their homes continue to lose value. It is no surprise, then, that US voters consistently rank the economy as the most important issue in this year's presidential race. Wachovia Bank rates the chance of a recession still at 45 per cent, down from 90 per cent certain in April. A Wall Street Journal survey of 55 business economists estimated the odds of recession at an average of 63 per cent. But even avoiding a recession may not be cause for celebration. 'To be sure, even economists who are becoming more upbeat say the US may be in for a period of protracted sluggish growth,' said the Wall Street Journal.

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Thanks.........May 26th, 2008 - 23:30:57

it's rather refreshing not to be called a name right away and pointed out that nothing I said is worth anything. But I'm sure that will happen.

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Well let me put it a different way SP4:May 27th, 2008 - 09:52:50

Dear Monsters and Critics
You reach over two million unique visitors per month.

The website has topics like movie reviews and politics. It allows visitors to comment on news related topics.

It was founded in 2003 by the site editor James Wray and the lead programmer Ulf Stabe, based in Glasgow, UK and Hamburg, Germany respectively.

The comments are not moderated at the point of publishing, but rather moderation is done after they are posted live on the site, on a rolling basis. This allows for a flow of conversation between users.

This unfortunately dosn't apply to SP4 .I suggest you get rid of him before he does any futher damage to M&C and you lose even more visitors.. Why to you continue to tolerate his foul mouth clog up your site and abuse all and sundry?.
MODERATER...... PLEASE..... GET RID OF HIM.

[edit] Contributors
James Wray, Ulf Stabe, Patrick Luce, Steve Ragan, April MacIntyre, Anne Brodie, Evrim Ersoy, Maura Reilly, April MacIntyre, Rich Bowden, Dan Nassarian, Stevie Smith and Ron Wilkinson.

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SP4: Let ME put it this wayMay 27th, 2008 - 21:54:50

Hogwash.

What has happened is that you have thrown in the towel. You lost, so now...

What you want is censorship. Yes, you disagree with my perspective and have lost the argument, so this is the only way you can win. Has anyone else incurred this scrutiny? No. Why? You agree with their point of view.

Go now, liberal fairies, go to your liberal church and burn the books you dislike. Burn the peole you disagree with. Send them to the gulags, tattoo their arms and shave thier heads. My, what an old story this is. The only thing missing is the Swastika.

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That's a factMay 27th, 2008 - 22:02:59

Others say far worse things than SP4. Also, look at the comments they have made about him: where was the clean up for THOSE remarks?

No, on this he's right: you're just sore losers.

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SP4: you knowMay 27th, 2008 - 22:21:12

...you are correct: If I break the rules, I sould not be allowed.

Fine, I can live with that.

From now on, you will get nothing but compliance from me. Like going to another persons house, we must be good guests.

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...Well let me try againMay 28th, 2008 - 09:44:49

SP4, Please do not write in all CAPS or use expletives (including f*** etc), such posts will be deleted. Spammers will have IP's blocked.(SEE ABOVE BUT M&C IGNORE THEIR OWN RULES) Please don't fill the site with endless and endless and endless pages of whatever your trying to say. Keep it short. Keep it sweet. Hopefully someone might even take the time then,to read it. By the way SP4 there are no winners and no losers just an exchange of debate and while we may differ.... at least be gracious .....otherwise it gets very tedious and we lose even more visitors to M&C.

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DictionaryMay 28th, 2008 - 09:53:15

te·di·ous (td-s)
adj.
1. Tiresome by reason of length, slowness, or dullness; boring. See Synonyms at boring.
2. Obsolete Moving or progressing very slowly.

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SP4: Oh yeah, right away!May 28th, 2008 - 20:09:28

Osama'whooo eeess this esss peee fo?'

aziz'hee ess postor on M een C, a infidel website eeen infidel lahnd'

Osama'weeel, heee peeeses meee offf!'

aziz:'heeee peeeses many of us off, excellence!'

Osama: Heee muust bee silenced!'

aziz'yeeees master....how?'

Osama:blame heeem foor beeing rude...that always works with the weak minded eenfidels! They cannot stand impolite people!'

aziz:'yes...ettt always does excellence...I gueeess theeey have never reead 'Tooony from Belgium' sire, oooor ppppperfect...ooor the mighty sock puppet, Lance, dan, ooo baby..sooo many rude infidels!'

Osama: I suupoze noot....they will be sacrificed when theee time coomes by the jihad! nooow goo find 40 virgins for me'.

aziz: no virgins in cave sire!'

Osama: then, find hoochies...'

aziz: 'no hoochies sire!'

Osama:'what else aziz...'

aziz: we have goat for you excellence!'

Osam: bring goooat aziz, after all theeese eees war! eeees pee must be defeated!'

aziz: sire...how does sex with gooat deeeefeeeeat the ess peee...?'

Osama: 'beats me! I'll leeet yooou knoow, azis! Nooow bring some sugar fooor daadee'

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tonny from belgiumJun 1st, 2008 - 12:16:01

Nobody minds if the economy is doing better of course ,I find no evidence of anything else anyway .I wish the improvement of the economy would improve the lives of the average americans however .During the Bush administration however the rich are getting richer,the poor are getting poorer ,fact even acknowledged by your richest profiteers like Warren Buffet .so to say that the conomy grows is like saying mre money goes to corporate business .What is urgently needed is some kind of redistribution of wealth in order to give more access to wealth for the deprived .Health care is deficient in the USA,it is the most expensive on earth per capita,yet performs below average .It is truly mind boggling that the health of your population is left in the hands of companies which have but one goal:to extrect as much profit from the population as possible .Only a retard could ever stat to imagine such system can be improved ,it needs to be abolished and replaced by a system based on solidarity between all americans.So easy that it should have been done long ago.Unfortunately the insurance industry isd ishing out money to the republicans to prevent this from happening .For the poor another four years of republican administration would be a disaster:yet even less access to education for the next decade,no health care,no pensions,more wars that cen not be won ,more lies,less free speech....

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SP4: That'd be true, Tonny if:Jun 1st, 2008 - 16:57:05

you could hold up a socailist system that does not:

Make the endangered sick i.e. cancers, etc. wait, dangerously, for care that is not readily available i.e.

Britain

Canada

Italy

Death Therapy - Guarenteed to work. In article after article, we are seeing people like Daniele Cappezonne President of the Productivity Commitee, of the Italina Chamber of Deputies speak out on the shortcoming of Marxist care. In other related articles, one had a poor lady in Liverpool going to her Parlemantary representative to beg for timely Cancer treatment from the British Socialist Medical System.

We actually HAVE socialized Medicine in the USA: The VA system, a bloated, unresponsive, medical gulag, with all the typical symptoms:

Runaway cost

Underperforming care

endless bureaucracy

transient political pressures

Al the usual, predictable conditions, seen the world over. It is estima

This is why we have Canadians appearing in Washington State, New York, N. Dakota, etc. for care...because they DON'T WANT TO DIE!

Curiously, a cursury study of euro healthcare shows the BEST results where they have modified the straight socialist system i.e. Switzerland and the Netherlands. In those nations, people who are able, BUY their insurance..hardly a socialist system, don't you think? Then, the government bids procedure costs to the providers. The government BUYs those unable to afford it a care package.

In fact, this is what Mitt Romney was advocating just 6 months ago. Unfortunately, the democrats will not greenlight interstate insurance sales for health insurance, giving states monopolies and not allowing the best care for the best prices. Well, what a surprise, huh?

Curiously, over here in the land of the dirt road and teepees, we still:

Offer ANYONE, including ILLEGAL aliens(a claim most of europe still cannot make)emergency care at ANY ederally funded emergency room

Insure 260,000,000 people

Provide the highest cure rates for cancers in the world

generate the greatest number of medical advances of any industiralized nation

have the most stringent drug approval process in the world.

export and cooperate on medical treatment with more governments, in more nations, than anyone on earth.

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