"If you think about the economy a year ago - that was before the downturn really started’’ -- Kevin Shaw, a partner in the Emerging Company Services practice at PricewaterhouseCoopers LLP in Boston
"The economy has lost 6.5 million jobs since the recession began in December 2007"
Well, it's over 7 million (18 million if you count those like me), but whose counting?
And if the recession began in December 2007, then the economy was DECLINING during the SUMMER of 2007 (two negative quarters needed beforehand).
Either way, the MSM and THEIR EXPERT are LYING TO YOU, newspaper readers!
Please see my Business labels for the daily chronicles.
"Worries on rise over job loss; Sentiment falls in latest poll" by Shobhana Chandra, Bloomberg News | July 25, 2009
WASHINGTON - Confidence among US consumers fell in July for the first time in five months as mounting unemployment and stagnant wages shook households.
Related: Economic Recovery Canceled
The biggest employment slump of any recession in the last eight decades is making Americans less secure, which is likely to restrain spending and lift savings. Amazon.com Inc. cut prices last quarter to boost sales and American Express Co. said more cardholders fell behind on payments, resulting in lower-than-anticipated earnings.
Tell it to the banks, 'eh?
Nigel Gault, chief US economist at IHS Global Insight in Lexington, Mass., who accurately forecast the drop in sentiment:
“The consumer isn’t going to be a leader in this recovery. Consumers are aware that the labor market is still pretty bleak. Any recovery in consumer spending will be very, very modest.’’
Then there ISN'T GOING to be a "RECOVERY" -- thus we MUST have WAR, right?
Stocks ended the day up after retreating earlier, when Amazon.com, American Express, and Microsoft Corp. earnings disappointed investors....
Awwwwwww.
The economy has lost 6.5 million jobs since the recession began in December 2007.
Then WHY DID YOU HIDE IT until OCTOBER 2008, MSM?
--more--"
