"Bush: US in 'slowdown' not recession"
"US President George W. Bush denied Tuesday that the US economy was in recession or would go into one despite a spate of downcast reports and gloomy indicators.
"We're not in a recession, I don't think we will go in a recession. We're in a slowdown, and there's a difference," Bush said in an interview with American Urban Radio Networks. "No question there is softening now."
The US president boasted of job growth since he took office in January 2001 but acknowledged that "economies go through cycles, and the question is how do you deal with the down-cycle."
"I am confident in our economy," he said.
"Think about what we've been through since I've been president, recession, an attack, corporate scandals, major natural disasters, high oil prices, war and yet we had 52 months of uninterrupted growth and that speaks volumes about the American people and resilience," he said....
You are going to need that resilience, readers, because we all know what is coming."Orders for durable goods fall more than expected in January"
"by Bloomberg News | February 28, 2008
WASHINGTON - Orders for US durable goods fell more than forecast in January as a slowing economy prompted companies to reduce spending.
The 5.3 percent decrease in bookings for goods meant to last several years followed a revised 4.4 percent gain in December that was smaller than previously reported, the Commerce Department said yesterday. Excluding transportation, demand dropped 1.6 percent, the third decline in four months.
Yeah, they always tell us a good, juicy lie, then REVISE DOWNWARD LATER!!!!
It's like court: You remember the accusations, not the acquittals!
Companies have put investment plans on hold as consumers rein in spending in the face of the biggest housing slump in a quarter century and near-record fuel costs....
But Bush says there is no recession, so that's that!
The decline in orders was led by lower demand for computers, communications equipment, and aircraft.
Bookings for nondefense capital goods excluding aircraft, a proxy for future business investment, declined 1.4 percent.... Orders excluding defense equipment decreased 4.7 percent and bookings for military gear fell 20 percent.
Still, record exports are offsetting some of the slowdown in domestic demand.
Caterpillar Inc., the world's largest maker of bulldozers and excavators, will spend as much as $2.5 billion this year, nearly 50 percent more than last year, to expand production capacity, chief executive Jim Owens said this month.
"We are out of capacity and so are our suppliers," he said."Oh, well that's great!
WAR PROFITEERS making out good!
This is all tied to the dropping dollar, readers.
That's why the prices are going up!
