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Recession feared if U.S. goes over fiscal cliff


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2012 Sep 13, 4:15am   2,542 views  3 comments

by StoutFiles   ➕follow (0)   💰tip   ignore  

http://money.cnn.com/2012/09/10/news/economy/chamber-fiscal-cliff/?iid=EL

"If we don't figure out a way to finesse this fiscal cliff. . . if we don't figure out how to kick this can down the road, we will almost certainly be in a recession," said [ U.S. Chamber of Commerce's Martin] Regalia in a briefing with reporters.

A recession is imminent if Congress and the Obama administration don't find a way to avoid impending drastic spending cuts and tax increases, a business group's top economist said Monday. The U.S.

Why do we keep trying to avoid the problem, letting it get worse and worse? The Fed is buying 40 BILLION dollars worth of mortgage-backed securities every month AND they're keeping the interest rates low until mid 2015. Let's just get the recession over with already, everyone is hesitant to buy because they know it's coming.

#housing

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2   freak80   2012 Sep 13, 5:47am  

Call it Crazy says

Damn Freak, you found a better one..... :)

Not better. It's what happens right after yours!

3   freak80   2012 Sep 13, 5:48am  

Of course, now that we have QE3, expect asset and commodity prices to go up. Damn, I should have bought some gold.

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