US economy suddenly appears vulnerable

[dogday]

WASHINGTON (AFP) - The US economic expansion suddenly seems more fragile than thought just weeks earlier, after a sharp downward revision to the past quarter's growth and renewed fears about the slump in real estate.

The latest revision to US gross domestic product (GDP) showed the world's largest economy expanded at a tepid 2.2 percent pace in the fourth quarter, instead of the 3.5 percent growth spurt in the official estimate a month earlier.

That was the sharpest downward revision in a decade, and was attributed to weak business spending and a drawdown of inventories from cautious firms.

Still, most forecasters say the economy will muddle through 2007 at a sluggish pace, in line with Federal Reserve forecasts.

http://au.biz.yahoo.com/070304/33/14mcw.html

[porphyrian]

1. It's only "sudden" to those who've been listening to the corporate media.

I think most of us have known it for quite some time now.

[MedleyMisty]

2. That was my first thought too.

I was like, "Sudden, what?"

[porphyrian]

5. Maybe they mean in geological age. - n/t

[dogday]

4. I know, it's not like it just suddenly appeared that way

The indicators have been in place for years with this Administration....

[porphyrian]

7. The poor have known it since shortly after these assholes took office.

A year at the outside.

[Atman]

3. "Suddenly." Hmm.

As sudden as the sunset...most of us on DU have been warning about this for years.

.

[MUAD_DIB]

11. I can hear it now...

"I mean, nobody could have predicted the slowdown would have such dire effects of the economy like it has.

Well, off to Paraguay. Bye."

[RaleighNCDUer]

14. No, no, no, you got it wrong --

This is the unfortunate result of the Democrats talking down the booming economy that * has given us for the last 6 years - people are responding to the Democrats' fear tactics, causing a contraction as they are suddenly hesitant to spend. They are worried about what will happen now that the Democrats have their hands on the nation's purse strings.
blah
blah
blah...

[izzie]

6. How we spend has been talked about for years.

All those other things have also hit the news like jobs overseas. It has all been out there just no one is willing to take it to heart.

[MadHound]

8. Let's see, soaring energy prices, housing bubble bursting, record debt,

Both national and private, ongoing hemoraging of well paying manufacturing jobs that are replaced with lower paying service jobs, all of this and more, and these fucking idiots are using the word SUDDENLY?
:banghead::banghead::banghead::banghead::banghead::banghead::banghead::banghead::banghead::banghead::banghead::banghead::banghead:

The only fucking thing that is sudden about this is that the government and MSM is finally starting to tell a bit of the truth. And the only reason that they are doing so is because it has become painfully obvious to most of America that our country is on very shaky economic ground.

Frickin' goddamn idiots, all they're doing is covering their ass for failing to report the truth earlier, instead filling the airwaves with Paris, Britney, Anna, or whatever other stupidity they could find to divert the public attention:grr:

[Horse with no Name]

9. Both of my daughters graduate from Community College in May

I have been putting off my move to Phoenix for a few years now and after they graduate, there will be no more roadblocks.
I have been watching the housing market in Phoenix. I am going to rent when I first go there because I will still need a larger house because I will have one child and grandchild still living with me and one going to the University of Arizona and she will be visiting on the weekends. Six months ago, the house that I need was $1500 a month minimum.
The same type of house now is about $950-1000.
Honestly, I am glad I wasn't able to move when I wanted. It will work out better for me.

[HereSince1628]

10. The corpos are begging for cheaper interest rates.

The Fed is still talking inflation fears.

We seem to be entering into those stagflation doldrums once again, but with a distinctly free-market mentality guiding decision making this time around.

This will be, um, interesting?

[no_hypocrisy]

12. Hell of a time to realize that the Emperor is wearing no clothes. n/t

[Genealogist]

13. Economy and SS/Medicare

Sun nite on 60 Minutes the head of the GAO- Government Accountability Office - said that Part D was the worst thing that Bush could have done....that our children and grandchildren will suffer because of the SS and Medicare costs....and of course the medical profession is the one who is really to blame with the costs rising and no control on them...just let the insurance companies (Medicare) with no checking on the overcharging. Bush keeps on spending and the Republicans keep putting those $'s in their pockets ... Grrrrrrrr

I am sure that Nancy Pelosi took impeachment off the table because then the real leader of our country would have to take over formally... Just hope the Libby trial takes them both down!

[OrangeCountyDemocrat]

15. Welcome To DU!

And I believe they could impeach Both Of 'Em, if they wanted to.

[newyawker99]

16. Hi Genealogist!!

Welcome to DU!! :toast:

[AX10]

17. Really? We didn't notice.

:sarcasm: