Word: gdp
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...nation's premier experts on the financial world, Peter Spencer, chief economic adviser to the Ernst & Young ITEM Club, said that the time to save the U.K. from severe GDP contraction may have come and gone. According to The Daily Telegraph, The Government and the Bank of England have got "days not weeks" to take action to revive the economy or face a prolonged depression...
...Going back several months, surveys of experts often reported that they did not think the U.S. economy would slip into a downturn until late 2008 and would begin to recover at the middle of this year. Data which has emerged in the last few weeks shows that America's GDP growth hit a wall much earlier last year. The consensus among economists now is that any recovery will begin late this year. More and more experts are beginning to push the date for any improvement well into...
...firms and consumers is crucial. Interest rates may be at their lowest since the Bank of England was created more than 300 years ago, and the banking industry may have already received $55 billion in government money, but nervous British lenders are simply not lending enough. The result: British GDP will tumble 2.7% this year, Ernst & Young forecast on Monday, the biggest drop since 1946. "Without additional government intervention," it added, "a deep recession could evolve into a depression...
...wave swamping bank earnings has moved away from being caused solely by derivatives. LBO loans, commercial real estate, consumer credit cards, and corporate bankruptcies are building and will not peak until the momentum in joblessness and falling GDP stops accelerating. That could take well over a year...
...ability to predict earnings probably deteriorates with the economy. Some professor at MIT has probably proved that but he is not telling. He has studied the dynamics of the correlation between EPS and GDP so that he can game the system and make hundreds of millions of dollars day trading S&P futures. His secrets will accompany him to the grave...