To: Sedohr Nod who wrote (86823 ) 6/30/2010 5:24:45 PM From: tonto 2 Recommendations Read Replies (1) | Respond to of 224749 In 2007 the economy was declining. Kenneth thought at the time when a republican was in the White House that it is irresponsible to run deficits... Today, he of course read an article and now supports deficits...or is it because a democrat is in office? (s) To: Burp-up OBonehead who wrote (100763) 6/17/2007 8:42:49 PM From: Kenneth E. Phillipps 2 Recommendations Read Replies (4) of 166429 Lets remember those deficit figures are calculated with the SS surplus included. The real deficit is much larger. It's fiscally irresponsible to run these DEFICITS just as the baby boomers are about to retire. To: Burp-up OBonehead who wrote (17737) 11/13/2007 6:44:40 PM From: Kenneth E. Phillipps Read Replies (6) of 86889 U.S. RECESSION may have already started Leonard Zehr, November 12, 2007 at 1:32 PM EST The analytic crowd likes to give odds on the U.S. economy falling into RECESSION, but Merrill Lynch figures the consumer knows something Wall Street isn’t admitting: that a RECESSION has already arrived. Citing results from the latest University of Michigan survey of consumer sentiment, economist David Rosenberg points out that the year-over-year trend in buying intentions for large household goods is closing in on the pace that was evident just ahead of the last two economic downturns in 1990 and 2001. And in the 30-year history of the data, there have been only two other times, not including Hurricane Katrina, “when consumer confidence has fallen so far so fast at this critical shopping period for retailers, and they were October, 2001, and October, 1990 - both times the economy was officially in RECESSION,” he contends. Mr. Rosenberg suggests a host of reasons why a RECESSION “may have already started ... and ... we just don’t know it yet.” Among other things, real average weekly earnings peaked in January, motor vehicle sales peaked in January, U of M consumer expectations peaked in January, truck tonnage peaked in March, the Conference Board’s “jobs are plentiful” index peaked in March, total construction spending peaked in May, and bond yields peaked in June. And in the second half this year, he notes that manufacturing orders peaked in July, LME copper inventories bottomed in July and railway car loadings peaked in September.theglobeandmail.com