Nasty Letters To Crooked Politicians

As we enter a new era of politics, we hope to see that Obama has the courage to fight the policies that Progressives hate. Will he have the fortitude to turn the economic future of America to help the working man? Or will he turn out to be just a pawn of big money, as he seems to be right now.

Friday, August 18, 2006

Warnings of a US recession and global slowdown

Warnings of a US recession and global slowdown

Three commentaries published in the Financial Times over the past week have pointed to the increasing likelihood of a US recession that would have major implications for the global economy.

In an article published on August 10 under the title “The world must prepare for America’s recession”, New York University economist Nouriel Roubini warned that while the US Federal Reserve Board may have been hoping for a “soft landing” when it decided earlier this month to halt its cycle of interest rate rises, the decision has come too late and it now confronts a recession.

“The US recession will be triggered by three unstoppable forces: the housing slowdown; higher oil prices; and higher interest rates. The US consumer, already burdened with high debt and falling real wages, will be hard hit by these shocks,” he wrote.


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