Heating Oil, GDP Growth and Recession
Submitted by THE O-MAN on Wed, 09/12/2007 - 14:50.
UCLA Anderson Forecast Unit says a recession is on the horizon! They noted that see 1% GDP growth in the forth quarter next yr and in the first quarter of 08'
According to Merrill Lynch Economist David Rosenburg the current supply-demand balance in the crude market means that the home heating bill this winter is going to be more than 10% higher than it was last year. This is not good news for consumer spending. Furthermore Rosenburg notes
Also see "Liquidity now" article in the WSJ why the FED must cut rates!
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discretionary spending
You have to think that discredtionary spending will take a big hit the next few months.