Quote:
Originally Posted by scottw
oops!
Forecasts for Growth Drop, Some Sharply
Published: Saturday, 25 Jun 2011 | 9:33 AM The New York Times
A drumbeat of disappointing data about consumer behavior, factory sales and weak hiring in recent weeks has prompted economists to ratchet down their 2011 economic forecasts to as little as half what they expected at the beginning of the year.
BUT DON'T WORRY
Bernanke May Try Spurring Economy by Prolonging Stimulus By Joshua Zumbrun and Steve Matthews - Jun 21, 2011 6:23 AM ET
Fed Chief Bernanke Leaves Door Open to Easing If Economy Weakens Further By Scott Lanman and Jeannine Aversa - Jun 23, 2011 12:00 AM ET .
.Federal Reserve Chairman Ben S. Bernanke left the door open to a fresh shot of monetary stimulus should the economic rebound he’s predicting fail to materialize.
Insanity: doing the same thing over and over again and expecting different results.
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More Stimulus...More QE...That's the Ticket!!!!
Dollar seen losing global reserve status
By Jack Farchy in London
The US dollar will lose its status as the global reserve currency over the next 25 years, according to a survey of central bank reserve managers who collectively control more than $8,000bn.
More than half the managers, who were polled by UBS, predicted that the dollar would be replaced by a portfolio of currencies within the next 25 years.
That marks a departure from previous years, when the central bank reserve managers have said the dollar would retain its status as the sole reserve currency.
UBS surveyed more than 80 central bank reserve managers, sovereign wealth funds and multilateral institutions with more than $8,000bn in assets at its annual seminar for sovereign institutions last week. The results were not weighted for assets under management.
The results are the latest sign of dissatisfaction with the dollar as a reserve currency,
amid concerns over the US government’s inability to rein in spending and the Federal Reserve’s huge expansion of its balance sheet.
“
Right now there is great concern out there around the financial trajectory that the US is on,” said Larry Hatheway, chief economist at UBS