Meryll Lynch Calls US Recession
In case you've missed it, Gold is at above $870/oz and Oil is above $100/barrel... and Meryll Lynch has called a US recession.
Not everybody agrees, but Meryll Lynch has a pretty good birds eye view of things.
Morgan Stanley did the same yesterday, saying:
"Incoming data suggest that tighter credit has pushed the US economy to the brink, and we reiterate our call for a mild US recession in the first half of 2008. Weak employment data and slowing in export orders reported by purchasing managers undermine the case that a healthy consumer and strong global growth would forestall a downturn. Moreover, the ongoing housing recession is deepening, declines in capital goods bookings hint that business equipment spending will contract, and inventory liquidation seems likely."
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Not everybody agrees, but Meryll Lynch has a pretty good birds eye view of things.
Morgan Stanley did the same yesterday, saying:
"Incoming data suggest that tighter credit has pushed the US economy to the brink, and we reiterate our call for a mild US recession in the first half of 2008. Weak employment data and slowing in export orders reported by purchasing managers undermine the case that a healthy consumer and strong global growth would forestall a downturn. Moreover, the ongoing housing recession is deepening, declines in capital goods bookings hint that business equipment spending will contract, and inventory liquidation seems likely."
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Trackbacks
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1/11/2008 3:11 AM
Legal Intellects wrote:
I reported on the 35 lawyers who were laid off today, and that Meryll Lynch and Morgan Stanely warned of a recession on tuesday.To add another harbinger of doom to the list, American Express has recently issued a similar warning.Worst yet, the company, which is in a fantastic position to witness consumer spending as it happens, says it "is seeing signs of a weaker U.S. economy" that is impacting its cardholders' ability to make purchases and pay their bills.American Express said in a statement that it will take a pre-tax charge of approximately $440 million in its fourth ... -
1/11/2008 2:26 AM
Legal Intellects wrote:
I reported on the 35 lawyers who were laid off today, and that Meryll Lynch and Morgan Stanely warned of a recession on tuesday.To add another harbinger of doom to the list, American Express has recently issued a similar warning.Worst yet, the company, which is in a fantastic position to witness consumer spending as it happens, says it "is seeing signs of a weaker U.S. economy" that is impacting its cardholders' ability to make purchases and pay their bills.American Express said in a statement that it will take a pre-tax charge of approximately $440 million in its fourth ... -
1/11/2008 2:27 AM
Legal Intellects wrote:
I reported on the 35 lawyers who were laid off today, and that Meryll Lynch and Morgan Stanely warned of a recession on tuesday.To add another harbinger of doom to the list, American Express has recently issued a similar warning.Worst yet, the company, which is in a fantastic position to witness consumer spending as it happens, says it "is seeing signs of a weaker U.S. economy" that is impacting its cardholders' ability to make purchases and pay their bills.American Express said in a statement that it will take a pre-tax charge of approximately $440 million in its fourth ... -
1/11/2008 2:27 AM
Legal Intellects wrote:
I reported on the 35 lawyers who were laid off today, and that Meryll Lynch and Morgan Stanely warned of a recession on tuesday.To add another harbinger of doom to the list, American Express has recently issued a similar warning.Worst yet, the company, which is in a fantastic position to witness consumer spending as it happens, says it "is seeing signs of a weaker U.S. economy" that is impacting its cardholders' ability to make purchases and pay their bills.American Express said in a statement that it will take a pre-tax charge of approximately $440 million in its fourth ... -
1/10/2008 9:27 PM
Legal Intellects wrote:
I reported on the 35 lawyers who were laid off today, and that Meryll Lynch and Morgan Stanely warned of a recession on tuesday.To add another harbinger of doom to the list, American Express has recently issued a similar warning.Worst yet, the company, which is in a fantastic position to witness consumer spending as it happens, says it "is seeing signs of a weaker U.S. economy" that is impacting its cardholders' ability to make purchases and pay their bills.American Express said in a statement that it will take a pre-tax charge of approximately $440 million in its fourth ...
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