US Faces Severe Recession, Feldstein Says

[swag]

Source: CNBC

The United States has entered a recession that could be "substantially more severe" than recent ones, former National Bureau of Economic Research President Martin Feldstein said
Friday.

"The situation is very bad, the situation is getting worse, and the risks are that it could get very bad," Feldstein said in a speech at the Futures Industry Association meeting in Boca Raton, Florida.

NBER is a private sector group that is considered the arbiter of U.S. business cycles.

Feldstein said the federal funds rate is headed for 2 percent from the current 3 percent.


Read more: http://www.cnbc.com/id/23629967

[katty]

1. it sure is, no s***-and today dollar$ falls below Swiss franc

[ConcernedCanuk]

2. Another no shit sherlock comment - us dumb poor people figured it out long ago.

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Most of the rich have no connection with reality IMO

"poverty" is the fault of the poor in their minds.

Well

guess what

When the shit hits the fan, us poor people will survive longer

We been developing survival skills on how to live "without"

Welcome to our world,

well, maybe . .

[underpants]

3. Feldstein? FELDSTEIN?!?!

Oh .. FELDstein he's good

[Joanne98]

4. U.S. faces severe recession: NBER's Feldstein

Source: Reuters

BOCA RATON, Florida (Reuters) - The United States is in a recession that could be "substantially more severe" than recent ones, National Bureau of Economic Research President Martin Feldstein said on Friday.

"The situation is very bad, the situation is getting worse, and the risks are that it could get very bad," Feldstein said in a speech at the Futures Industry Association meeting in Boca Raton, Florida.

"There's no doubt that this year and next year are going to be very difficult years."

NBER is a private sector group that is considered the arbiter of U.S. business cycles. Feldstein is also a Harvard economics professor and former economic advisor to President Ronald Reagan.

Answering questions from the audience, Feldstein said the downturn could be the worst in the United States since World War Two.



Read more: http://biz.yahoo.com/rb/080314/usa_economy_feldstein.html

[Selatius]

5. Could be the worst since World War 2?

If it's bigger than the downturn in the 1970s, we're in for one long ride.

[brentspeak]

6. Yeah, no thanks to Feldstein himself, aka Mr. Reaganomics

He's a chief architect for much of today's deregulated, trickle-down, ship-the-jobs-out-of-the-USA economy.

[Selatius]

7. He would probably want people not to know that or that supply-side economics is a farce. n/t

[Warren Stupidity]

8. They are getting ready to close up shop on USA.

They've pretty much done their work: debased the currency, bankrupted and looted the treasury, dismantled and shipped overseas the industrial manufacturing base, and dumbed us down with the endless done of the false noise machine. 300 million consumer idiots essentially taking up space and producing nothing of value. How long could that last? Welcome to the Idiocracy, the Republic of Moranica.

[ElsewheresDaughter]

9. I've been reading that what's coming is going to make 1929/33 look like "a walk in the park"

[ConcernedCanuk]

10. You are correct. - The USA has lost world respect and sympathy.

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something they used to have before their "preemptive" war bullshit.

Ain't gonna be many tears shed globally when the US empire folds.

And fold it will.

Empires do that.