Wednesday, January 30, 2008

.6% GDP in the 4th Qtr, I am going to have to say thats not so good

Fed please give us at least 50 bps today, if not more.

WASHINGTON (AP) -- The economy nearly stalled in the fourth quarter with a growth rate of just 0.6 percent, capping its worst year since 2002.

The Commerce Department's report on the gross domestic product, released Wednesday, showed an economy that had deteriorated considerably during the October-to-December quarter as worsening problems in the housing market and harder-to-get credit made individuals and businesses more cautious in their spending. Fears of a recession have grown, even as inflation remained elevated....

1 comment:

Morty said...

And I am going to go ahead and agree with you. The best proposal I've heard yet to get out of this quickly is the one I posted about the other day: an auction of all subprime related assets to ascertain true market value - it's like pulling the band aid off in one painful swoop rather than peeling it slowly.
a good idea