GDP forecasts: Consumer spending to blame for weak Q2 growth - Jul. 25, 2012
"Those who went through the Great Depression were fundamentally
changed for their entire lives. They were prone to hoarding," said Sean
Snaith, director of the University of Central Florida's Institute for
Economic Competitiveness. "I think the Great Recession is going to have
similar lasting effects."
"The economy is facing a chicken-or-egg conundrum. If job growth
doesn't pick up, consumer spending is unlikely to grow substantially any
time soon. On the other hand, if consumers don't go out and buy more,
companies don't have much incentive to hire more workers.
Unless something else snaps the U.S. economy out of this cycle,
economic growth could stay around or below 2% for "as far as the eye can
see," Bullard said."
...Naw...just sell more I-phones...
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