Quote of the Day: Dick Green

Tuesday, November 20, 2007 | 06:30 PM

I had to do a double take on this one:

"A recent survey of top Wall Street economists by The Wall Street Journal revealed expectations that fourth quarter real GDP will rise at about a 1.5% annual rate. The first quarter of next year is expected to come in at about 2%, and to inch higher through the year. Steady, moderate growth in consumer spending and strong exports are creating growth.

There is no evidence of recession.

The weekly H.8 data from the Federal Reserve show that banks are continuing to extend credit at a steady rate.

There is no evidence of a broad credit crunch."

--Dick Green, president of Briefing.com
(emphasis added)

How someone can read a collection of forecasts, and from that deduce a lack of evidence of potential recession is far beyond me. Its disingenuous beyond belief.

Go read the full piece, and come back to post a comment whether Mr. Green is correct or not.  Consider this your open thread for the evening . . .

>

(Hat tip Marketbeat)

>

Source:
The Fears are Real
Dick Green
Briefing.com, 20-Nov-07 08:48 ET
http://www.briefing.com/GeneralContent/Active/PrintPage/PrintPage.aspx?PageId=3120

Tuesday, November 20, 2007 | 06:30 PM | Permalink | Comments (29) | TrackBack (1)
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Tracked on Nov 20, 2007 11:03:06 PM

Comments

Green says nothing about a _potential_ recession. He is evidently talking about actual conditions as they currently prevail and is not saying anything controversial. There is no recession in our economy at this point. Potential recession risk exists but is beyond Green's thesis.

Posted by: djg | Nov 20, 2007 6:44:02 PM

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