Word: downturns
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...after Thanksgiving at Aventura Mall, north of Miami, and David Weinberg is worrying about the economy. "People are underestimating the downturn in the housing market in Florida and are spending based on home equity," says the accountant from nearby Pembroke Pines, Fla. "We have not seen the worst of it yet." In light of these looming troubles, Weinberg, at the mall with his wife and two young kids, says he'd like to rein in spending this holiday season. "But," he adds, "I'm not always in control...
Short-term retail optimism brings no cheer, though, to the economy's wise men, who talk mainly of an imminent downturn. "The odds now favor a U.S. recession," writes former Treasury Secretary Larry Summers in a newspaper column. "I'd put the number at about a 75% chance," says investing guru Jack Bogle on TV. "We are becoming more certain that the recession is either here or no more than two quarters away," warns Merrill Lynch economist David Rosenberg in a note to clients...
...it’s been a pretty good month already, and this weekend’s been busy like all other weekends.” According to a recent Reuters/Zogby poll, U.S. consumers said they planned to spend less this holiday season because of the U.S. housing downturn and fears of a recession...
...would expect to sell more than 20 million birds, according to a report in The Guardian newspaper. British farms are already struggling to recover from a year of animal pestilence, as livestock have been besieged by foot-and-mouth and bluetongue disease, two other gruesome and costly viruses. The downturn following the last bird flu outbreak cost the British poultry industry an estimated $19 million in 12 weeks. Humans may currently be safe from bird flu and Britain's other animal viruses, but for Britain's farming industry there are fears that they could be deadly...
...logic would say it would be sometime in 2009 because of a new presidency and because of the various factors in the market. And that's a probability. But I don't see it as 1990 or 1974 or any of those periods where we had a real serious downturn...