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A Real American Recession: Arriving Or Already Arrived?
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Uh, oh!
And if that isn't enough to make you see red ... we strongly suggest you see what way the markets went today.
Uh, oh!
Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and a "perfect storm" for consumers as the housing slump spreads.See today's scary story in full.
In a report "Recession Coming" released today, the bank's US team said the credit crunch had started to inflict serious damage on US companies
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Like Goldman Sachs, and Lehman Brothers, the bank no longer believes Asia and Europe will come to the rescue as America slows.
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Morgan Stanley is the first major Wall Street bank to warn that it is may now be too late to stop a recession, though most have shifted to an ultra-cautious stance in recent weeks.
The bank at first treated the August crunch as a "mid-cycle correction", much like the financial storm after Russia's default in 1998. But the collapse of the US commercial paper market has now continued for seventeen weeks, suggesting a "fundamental deleveraging of the banking system."
And if that isn't enough to make you see red ... we strongly suggest you see what way the markets went today.
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(Cross posted at Appletree)Labels: America, banking, Europe, recession, United States, Wall Street Journal
posted by Richard at Tuesday, December 11, 2007
6 Comments:
Why worry? Those with the most to lose will lose the most. Those of us with little to lose to begin with will lose the least. A price worth paying as far as I'm concerned.
I can picture now. Loads of crooked fat-cats climbing tall buildings - to toss themselves off. It'll make a pleasant change from watching them gang-bang the likes of us.
It's probably the best thing that could happen for the USA - it'll force the change of attitude and atmosphere that's so sorely needed in some quarters.
Twilight, my own thoughts exactly. A little taste of shock and awe of a slightly different nature would do wonders. It would bring so many back down to earth (in the real world) with a bump. A BIG bump.
xxx, LOL. Best double entendre, ever. Naughty but nice. 8*)
anymous, hmmm. Can't quite make up my mind about that = yet
Everything has a cycle, both good and bad. How people and corporations deal with it will tell the bigger story.
A recession will hurt the average American more than the wealthy elite. Wealthy Americans have the money to weather recession and inflation, the lower income earners don't. Everyone suffers, but the little guy suffers most.
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