Analysts Cut Expectations For Economic Growth

New York Times:

The financial turmoil that began with the seemingly narrow meltdown in subprime mortgages is now forcing both policy makers and Wall Street analysts to scale back their expectations for growth in the overall economy.

Most economists still predict continued economic growth for the rest of the year and into 2008, but many are trimming their forecasts and warning that even their somewhat darker views could be too rosy.

Read the whole story: New York Times

Comments

[ImmanuelGoldstein]

07:52 PM on 08/24/2007

Well with so much of the increase in consumer spending being created my people using the housing equity as an ATM, how many big ticket items are they going to be buying now that the gravy train is pulling into Auschwitz?

And anyway , can someone tell me who's going to buy all those millions of McMansions when all those ARMs reset. Anybody?

[Gabrielle]

10:13 AM on 08/24/2007

FRIGHTENING BUT IT WAS BOUND TO HAPPEN!!!

HOW IRRESPONSIBLE AND CATASTROPHIC OF OUR LEADERS!!!

DIDN'T EVERYTHING "HE" TOUCHED TURNED TO "S**T"????

POOR AMERICA!!!!!!

LATER THEN YOU THINK! IMPEACH! GUILLOTINE!(just a figure of speech there, you guys....)

VIVE LA REVOLUTION!!!