ECONOMY WATCH

[awol]

let's hear one more time about tax cuts...

http://articles.moneycentral.msn.com/Investing/Dispatch/070227markets.aspx?GT1=9114

[IYT]

I lost almost $600 in my stock values yesterday.

[Gryphon]

I havent looked and  I dont want to. I have a feeling the jump I saw last quarter is gone.

[IYT]

Just checked mine today.  I got back a little over $100 so far.  Keeping my fingers crossed.

[Henry Hawk]

Wall Street spooked by shoddy reporting

Dow Jones Newswires ran a headline, saying "Greenspan: Recession in U.S. 'Possible.'" Bloomberg News Service said, "Greenspan says U.S. may slip into recession."

In fact, he predicted nothing of the sort, and even a cursory reading of what the former Federal Reserve chairman said in remarks via satellite at a global business conference in Hong Kong shows that quite clearly. Story after story, even after the markets' steep decline Tuesday, flatly reported that he saw a possible recession in the near future, without all of the caveats and modifiers for which Greenspan is famous when he talks about hypotheticals.

Here's what he said: "While, yes, it is possible we can get a recession in the latter months of 2007, most forecasters are not making that judgment and indeed are projecting (growth) forward into 2008 ... with some slow down." He went on to describe conditions in the global economy as "benign and stable," a view that is consistent with economic forecasters here and abroad. And he said both the United States and global economies were far more resilient now than ever before, partly as a result of increasing global liquidity.

In short, Greenspan's "widely reported comments weren't nearly as negative as the headlines portrayed," Malpass told his clients. But the r-word he uttered dominated the headlines and, in the 24/7 news world we live in, that message contributed to Wall Street's jitters and helped to push it into the tailspin we saw last week.

http://www.townhall.com/columnists/DonaldLambro/2007/03/05/wall_street_spooked_by_shoddy_reporting

[IYT]

So now we're blaming the "liberal media" for the Dow's dip?   

[Henry Hawk]

So now we're blaming the "liberal media" for the Dow's dip?   

yes

[awol]

aaaaaaaaaaaaaahahahahahahahahahahahahaha!!!!!!!!!!!!!!!

[IYT]

You know how the media has splashed news about red wine being good for your heart all over...I blame them for my hangover.

[Henry Hawk]

You know how the media has splashed news about red wine being good for your heart all over...I blame them for my hangover.

I'm pretty sure, you are being a little sarcastic....and that is soooo not like you, IYT.......are you okay?...

[IYT]

Well, it's Tuesday morning, I'm at work, so I've been better, but not bad.  I was late for work today because I read in the media that there was a deadly car wreck and now I'm afraid to drive...so I walked.

[Henry Hawk]

but at least you are not releasing toxic carbons into the air, so the water won't rise and wash you away on your walk home tonight....

[IYT]

yea, but the media said too much walking could be bad on my knees, so...ah, I'm out of good quality sarcasm...

[Henry Hawk]

http://www.breitbart.com/news/2007/03/09/070309142115.84ch37t1.html

US trade deficit shrinks to 59.1 billion dollars

The US trade deficit narrowed 3.8 percent in January to 59.1 billion dollars thanks to record-breaking export growth, the Commerce Department said Friday.
It was a bigger drop than expected on Wall Street, where analysts saw a deficit of 60.0 billion dollars, and marked the steepest change in the trade figure since October.


An improving trade picture could be good for first-quarter US economic growth, as a higher deficit subtracts from gross domestic product.

[Henry Hawk]

http://apnews.myway.com/article/20070309/D8NOMJJO0.html

Unemployment Rate Drops to 4.5 Percent

WASHINGTON (AP) - The nation's unemployment rate dipped to 4.5 percent in February even as big losses of construction and factory jobs restrained overall payroll growth. Wages grew briskly.