The Labor Department reported that wholesale inflation was up 6.3 percent for all of 2007, reflecting a huge increase for the year in various types of energy costs ranging from gasoline to home heating oil.
So, do you think we are in a recession yet?
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1 response so far ↓
1 messels // Jan 18, 2008 at 12:10 pm
no, i don’t think we are. slow down in growth doesn’t equal recession. when i see a contraction of the economy for two months straight, then yeah, we are.
right now, it’s just a bunch of FUD driving the markets. worry over a recession and how it’s going to affect the US. what people, mainly analysits, aren’t taking account of is how far china and india (and the rest of the world for that matter) has developed their own economies over the last few years. a very rapid growth that will easily bleed off any excess supply within the US. PCU (souther copper) is one of the largest copper miners in the world. they’re simply shifting 20% of their production inventories to china since it can easily absorb the demand. that’s just one example. i’m sure there are tons more!
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