Monday, March 24, 2008

Notes from Meet the Press on the Economy

-Alan Greenspan said that the economy is the worst he's seen it since World War II. The CEO of Lehman Bros. said it it's the worst in 40 years.

-Banks do not trust consumers and consumers do not trust banks.

-By definition a recession is two or more consecutive quarters of decline in GDP.

-In the year following talks of a recession you will often see a lot of growth.

-Over 40% of Americans think they are worse off today.

-The Fed cutting interest rates may result in inflation in the future.

-The cheap dollar has fueled exports to other countries and an increase in jobs.

-The economy issue will likely still exist in the November elections.

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