Harry Davis is a professor banking at Appalachian State University in Boone and serves as the N.C. Bankers Association’s economist.
In an essay sent around Thursday by the association, Davis ponders the data and concludes that we may be in an economic pause rather than a recession.
His thoughts are worth pondering, even if he does says such things as “The data is....”
Here's the nut graf:
"Hopefully, the national economy is in a pause and not the beginning of a recession. If the Federal Reserve acts aggressively and housing finds a bottom, we may avoid a recession for now or at least set the stage for a short mild recession."
Want a copy of what Davis had to say? Send me an email at jbetts@charlotteobserver.com and I'll forward a copy.
Thursday, January 17, 2008
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3 comments:
Jack this has been driving into the GREAT DEPRESSION for a while; Like normal the Government waits untl its to late; My Grandfather was a house builder and when House plummet its real bad; Construction stops , its real bad; Now we have many immigrants that depend on Construction and they are getting into trouble waiting for recovery; When Automobiles stop selling they can rebate and discount ; Of Course Auots are so way over inflated anyway that when you drive them off they are worth %25 percent less than insurance value.The econopmy is a real mess and will get worse quick.
The U.S. is now behind CHINA and INDIA in population because of open gate immigration. Just look at India how they operate and this is what could happen in the U.S. To many People come to a party or buffet and guess what the food and wine runs out; On the bright side the U.S. has a paper economy so all they have to do is print more paper and pass it around; Look at gasoline / energy ,Oh Boy! enough said; Inflation is getting like Germany in the 1930s when the Deutchmark rose to a wheelbarrow of paper to buy a loaf of bread.To many People here caused this , like musical chairs but when the music runs out thats when the fun begins.
Jack Alabama now has four car plants with only 4.6 million people and when the economy breaks someday the trains couples will make the loud pulling sound, like they do . But the Carolinas has Tobacco, Textiles and Furniture pulled out and, therefore, it will never take off again unless we get a couple of those Honda Plants or Toyota; People here have been under employed for 5 years here And more People are coming running from their problems , just like NEW YORK during the 1929 crash. It made New York much worse than it was . Overcrowding, jobless and soup lines. I know some of my family survived all of it.
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