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alstry (36.42)

EXPORTS will save the economy???

Recs

7

March 17, 2009 – Comments (3)

FACT:

Over the past five months since the credit crunch intensified, real exports have plunged at a 49% annual rate

http://www.marketwatch.com/news/story/Global-trade-collapsing-forcing-everyone/story.aspx?guid=%7B5E877CF4-8D66-46A2-A144-3EE1FF6F6C37%7D

Remember that argument?????

Exports DOWN 50%.

New Home Sales DOWN 75%.

Autos DOWN 50%

February Income Tax Recepits DOWN 64%.

A DEPRESSION is a 10% decline in GDP.  Pretty soon Alstry's projection for 30% unemployment may look conservative.

I know...none of this was foreseeable.

Hopefully you have prepared....

3 Comments – Post Your Own

#1) On March 17, 2009 at 5:24 AM, alstry (36.42) wrote:

The pace of the decline is unprecedented in modern times, economists say. "We doubt even during the Great Depression that trade collapsed with such ferocity," said David Greenlaw, an economist for Morgan Stanley. The Great Recession, as the IMF calls it, has severed a crucial link in the global economy. U.S. consumer spending has been the main engine of growth for the whole world, but that spending was based largely on phantom gains in asset prices that were inflated by that cheap money from abroad that has now been disrupted.

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#2) On March 17, 2009 at 7:23 AM, Varchild2008 (84.54) wrote:

Great to see you sound cheery today Alstry! :-)
Must be a Robin on your shoulder...

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#3) On March 17, 2009 at 7:34 AM, alstry (36.42) wrote:

Var, 

Actually, I am feeling pretty good...

Based on Bernanke's policies I thought exports would be down 66% perecent right now.

 

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