Thursday, August 18, 2011

Dangerously Close To Recession?

Scaling back forecasts...

"Our revised forecasts show the US and the euro area hovering dangerously close to a recession — defined as two consecutive quarters of contraction — over the next 6-12 months," Joachim Fels, who co-heads Morgan Stanley's global economics team, said in a research note dated Wednesday.
Most folks see the U.S. headed the wrong way.
Thanks Barack!

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