AP survey: A bleaker outlook for economy into 2011

[cory777]

Source: AP

WASHINGTON – The U.S. economic recovery will remain slow deep into next year, held back by shoppers reluctant to spend and employers hesitant to hire, according to an Associated Press survey of leading economists.

The latest quarterly AP Economy Survey shows economists have turned gloomier in the past three months. They foresee weaker growth and higher unemployment than they did before. As a result, the economists think the Federal Reserve will keep interest rates near zero until at least next spring.

Yet despite their expectation of slower growth, a majority of the 42 economists surveyed believe the recovery remains on track, raising hopes that the economy can avoid falling back into a "double-dip" recession.

The AP survey compiles forecasts of leading private, corporate and academic economists on a range of indicators, including employment, consumer spending and inflation. Among their forecasts:

Read more: http://news.yahoo.com/s/ap/20100729/ap_on_bi_ge/us_ap_economy_survey

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[SILVER__FOX52]

1. Don't shit your selves...........

The oligarchy is sitting on a mountain of cash so it can manipulate the economy. They want Obama gone and they don't care how many dead peasants it produces. This is a war.

[Earth_First]

4. +1

This article confirms it:

Companies hold record $837B in cash, yet won't hire workers‎

http://www.google.com/url?sa=t&source=web&cd=1&ved=0CBkQqQIwAA&url=http%3A%2F%2Fwww.usatoday.com%2Fmoney%2Fcompanies%2F2010-07-28-cashcows28_ST_N.htm&ei=jVlRTKnrAsiDnQfX2JXkAw&usg=AFQjCNGIH21TTUkYF9wx9qc2JFrGpOlA3A

[Sherman A1]

5. +1, Agreed & Well Said!

you hit the nail on the head.

[PJPhreak]

11. "You hit the nail on the head." With A BigAss Hammer! nt

[HughBeaumont]

20. The Republican gate-kept Oligarchy must be preserved at all cost.

The only problem is - how do you sell the American people on the lunatic hard-rightist candidates the GOP's producing? Not a single ONE of them is believable as a moderate, nor do they have the instant name recognition of a George Bewsh.

Not to mention the report of zero-job growth in 10 years while doubling the National Debt in the same time period kind of puts the kibosh on the "fiscal conservative" ruse. Jobs are pretty much all that matters right now, and it's been proven beyond a shadow of a doubt that Republicans (hand in hand with Corporate America) are absolutely awful in that area.

I mean, how are they gonna be sold? "I WON'T be like George W Bush. I PROMISE!!" :rofl: :rofl:

I firmly believe that incompetent dry-drunk Bewsh screwed the Republican party for quite a while.

[tomm2thumbs]

2. The AP didn't even see the disaster coming, and now they can predict drops? LOL

laughable

[xchrom]

3. Recommend

[DCBob]

6. and yet:.. "a majority of the economists surveyed believe the recovery remains on track"

I imagine Krugman was one of the dissenting votes since he thinks we are in the "midst of a depression".

[ixion]

8. In case you hadn't noticed

we ARE in the midst of a depression.

[DCBob]

9. I haven't noticed. By what criteria do you make such an absurd claim?

and feeling depressed doesn't count.

[ixion]

14. Ah, you must be one of the beltway well-connected... Good for you.

I'm sure you've done quite well over the past couple years, what with all the free beltway "bailout" cash flying about. Congrats!

[DCBob]

In fact my company went out of business and we were all laid off. I am working as a pt consultant..

now to pay the bills. Regardless we are still not in a depression.. no where near.

[Lost4words]

21. you should visit the rest of the country, really! nt

[DCBob]

25. No doubt the recovery is regional, but the nation as a whole is not in a depression..

GDP has been positive for nearly a year which means we are not in a depression.. not even a recession.. but DU "economists" must have a different definition for a depression. Gotta go. Ciao.

[nebenaube]

23. Actually,

this is a depression and if you can't see it, then you must not be looking.

[hack89]

10. Words have meaning

I suggest you learn the real meaning of a economic depression.

[ixion]

13. We are all going to learn that meaning in a very true and deep sense

[hack89]

15. No we are not

no one is forecasting negative growth.

[ixion]

17. LOL... okay

I'll bookmark this thread and we can discuss in a few months.

[hack89]

18. DU has a lousy crystal ball

thinking back on the semi-annual "US will attack Iran" or "Bush will declare marshal law" thread. Fitzmas was my favorite.

All these economic doom and gloom thread are no different - lots of emotion but no hard facts behind them.

[ixion]

27. Uh, the issue is well-documented

and there were many of us here who called the meltdown before it happened.

Sure, there have been hits and misses. There are ALAWAYS these things. But to simply dismiss it out-of-hand is specious, in my opinion.

[hack89]

32. No it has not

the recession has been well documented but the notion of an impending depression is pure speculation.

[Lost4words]

22. still doing ok huh!?

[hack89]

31. Doing OK

like most of my family, neighbors and friends.

[TheWatcher]

33. Therefore, Bedrock Denial and Unquestioning belief in Propaganda comes easy for you.

As long as you're not hurting, it's a "Recovery".

Nothing else exists.

Graze On.

[hack89]

34. No - I have just learned to put aside knee jerk, emotional responses

and look at real facts.

[ixion]

7. Oh yes, that's it. It's all about the "hesitant shopper"

You see, everything else is just a-okay. If those pesky consumers weren't so concerned about racking up debt, everything would be hunky dory. :sarcasm:

AP proving it still doesn't get it.

[northernlights]

12. I just made a $139. purchase

for a solar-cooker Hot Pot. It arrived 3 days ago. On day 1, I cooked corn on the cob...without fossil fuel. It was *delectable.* On day 2, I hardcooked eggs. They came out *perfect.* Yesterday was the big trial -- london broil in garlic, onions, green peppers with a little greek salad dressing. Heavenly. Tomorrow I will be making a large batch of either some kind of stew or something with rice. I will be cooking and freezing solar until winter comes and we don't have enough sun. Hopefully by then I'll have enough frozen meals stored to tide me over 'til the sun returns.

The pot will pay for itself in reduced propane consumption within a couple of months. Based on the results of this successful solar experiment, I plan to buy a 2nd (different style) of solar cooker so that I'm not limited to cooking stews or 1 thing at a time.

So I am still purchasing "stuff." But it's different "stuff" than I've purchased before. I'm putting what little money I can scrape up into reducing my consumption of fossil fuel. I also will spend a (relatively) small chunk of change on a "sweater" for my hot water heater. I already have cut way back on my shower use.

I also already cut my oil consumption dramatically last winter by changing which rooms I heated, how much I heated them...and wearing a knit hat and heavy sweaters indoors.

I buy mostly local food and, now that a local buckwheat grower has turned up (in Maine, to boot!) I will be able to switch even more to local growers.

This weekend I am learning to clam and will hopefully get a license next year. Once I'm out of school, I also plan to add a flock of chickens to my farmette.

This is war. We are under siege. We can outsmart them because for so very many things *we do not need them." They need us to buy their junk. We do not need their junk.

[ixion]

16. well said. I'm doing the same thing

I'm still buying things, but they're different things than I was buying in 2006, say. I've actually been preparing since 2007.

The things I've been buying have all been geared towards reducing my footprint on multiple levels.

You're spot on: this is war, and they need us more than we need them.

[customerserviceguy]

19. Ah, but that's not the kind of spending they want!

You gotta buy things that need constant fuel, maintenance, or a monthly bill for services in order for it to be 'good' for the economy!

Seriously, good on you for your purchase, if I had any sun out back of my condo, I'd probably buy one, too.

[Turborama]

24. I'm interested in getting one of those cookers

Could you PM me or post a link please?

Thanks in advance...

[northernlights]

29. I got mine through solarovens.net

if you google solar cooking you can find lots of information. I had dreamed of getting a parabolic cooker, but a few years ago they were all many hundreds of dollars and making one from a box and insulation and aluminum foil seemed pretty unpredictable in terms of results.

After Deepwater Horizon I looked again and learned about the hot pot, and discovered that finally prices had come down enough. They use them heavily in 3rd world countries especially after disasters. They are cooking food and purifying water for Haitians :) I liked the hot pot in large part because although it gets hot enough to pasteurize and purify water, it doesn't get hot enough to start fires, so it's safer.

I love it, love it, love it. I'm not a rep or involved in the company in any way, other than that I found them when I googled, took a risk and am thrilled with the result. My hot pot is beautiful and it WORKS :)

[eilen]

26. Kudos! You are my hero!

Do you have some type of blog with detail of your plan/activities? I am thinking of purchasing a pressure canner and learning to use my hot water bath one. I am getting a bumper crop of hot chili peppers and I want to preserve them as their chief consumer has gone on the road in search of work. Also I want one of those drying racks you pull down from the ceiling like they use in Europe or plans on how to rig one up. I go to my farmers market and am transitioning to a peasant's diet (may as well, since I am clearly a peasant--lol) and am considering picking up the bulk baskets for preserving on the stuff I don't grow. I am also thinking of obtaining a treadle machine. I sew but what if the power is cut off? Also, I could set up a booth doing mending at the farmers market if I needed to. If my husband and I end up going on the road after my son goes to college, then I can use the treadle in the camper without need for electric hookup.

[northernlights]

28. yes, I have a blog

and I will be updating it this weekend with my adventures in solar cooking. It focuses mostly on healing with herbs, but also on gardening etc.

You're welcome to visit it...it's in my profile :)

[Iowa]

30. Thank you for posting that! I think I'll buy one...

Another advantage would be the ability to bake in the summer when it's hotter than hell. We basically stop using the oven in June-July-August. This would enable us to bake no matter how hot it is. In fact, the hotter the better.

[IDemo]

35. Made mine last summer for about $6.00

Have since made some terrific split pea soup, beef stew, chicken and veggies, and black bean soup.
I'm finishing up on an enclosed box cooker that should be good for hotter cook temps.

Plans for this and other models can be found here -> http://solarcooking.wikia.com/wiki/Fun-Panel

[northernlights]

36. beautiful

There are obvious advantages to making your own -- lost cost and independence.

Purchasing a system has some advantages as well -- the highly polished metal reflects more intensely, increases the cooking temperatures. And the temperatures are reliable -- you can count on it reaching a high enough temperature to denature protein, so it pasteurizes water and foods. My hotpot (and other manufactured)reflector panels are hinged and designed to fold flat for convenient storage. The thick, outer glass of the hot pot insulates the inner black enamel pot, so that it works even in very cold temperatures (like base camp at Mt. Everest). The black enamel pot that nests in the glass insulating pot is open, so I can see how things are going without opening and losing heat. It's heavier weight keeps it stable in moderate wind.