On Jun 27, 2008, at 9:52 AM, Patrick Bond wrote:
Hey comrade, you don't like Evans-Pritchard channeling RBS.
And, as it turns out, their "crash" forecast was for a 10% decline in
U.S. stocks. That's not a crash.
So how about Louis Proyect channeling the Washington Post?
http://www.washingtonpost.com/wp-dyn/content/article/2008/06/26/
AR2008062604030.html
This Recession, It's Just Beginning
By Steven Pearlstein
Friday, June 27, 2008; D01
How many times do I have to say that I think the U.S. economy is in
recession, and that there's no sign of that second-half recovery that
Wall Street optimists have been hoping for? And that, aside from the
state of the cycle, the U.S. economy is facing years of slow-to-no
growth and financial troubles? Plus inflationary pressures, which are
a nightmare for a Fed afraid to tighten in the face of
vulnerabilities? That's not as dramatic as the systemic collapse that
some people are predicting/hoping for, but it's not happy talk either.
Doug
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