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Watchin tha world go by
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Economy shrinks as consumers cut back on spending
Thursday October 30, 12:02 pm ET
Economy shrinks in strongest signal yet that recession may have already begun.
--------------DUH YA THINK--------------
the shrinkage was 0.3% annually adjusted (read fudged/cooked).
this means they didnt count inflation. real was 1.5%.

gits even better - now that we have transfered 125B of taxpayer money to 9 big banks (some of whom are using it for acquisitions)

they are now giving it to ---- yer gonna luv this----

Besides cutting interest rates, the Fed announced it was extending credit lines worth $30 billion each to the central banks of Brazil, Mexico, South Korea and Singapore in an effort to bolster financial markets in those countries and relieve investors' anxieties.

it just keeps gittin better and better --- for everyone but the taxpayer
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13,343 Posts
intresting...consumer spending cut back to 1980 levels....since our economy was 70% consumer driven it looks like stagflation on the is going to be tough.....
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