U.S. Economy Showing Signs of Life
A report released by the Federal Reserve on Wednesday gave some indications that, for half of the districts tracked by the Fed and for certain markets, the American economy is slowly starting to revive from its near-death experience last fall.
A report released by the Federal Reserve on Wednesday gave some indications that, for half of the districts tracked by the Fed and for certain markets, the American economy is slowly starting to revive from its near-death experience last fall.
TRUTHDIG’S JOURNALISM REMAINS CLEARReuters via Google News:
“Most districts noted that the outlook for economic activity among their business contacts remained cautiously positive,” the Fed’s Beige Book survey said.
The modestly upbeat report said most regions reported some improvement in hard-hit residential real estate markets and an uptick in manufacturing.
[…] Tempering the brighter spots, Fed contacts reported that demand for commercial property remained weak and that businesspeople in some areas believed recently higher vehicle sales levels were likely not sustainable after the government’s “cash for clunkers” incentive program lapses.
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Those dangerous socialists in our federal government have really done it this time Why, they've engineered a way to give the American auto industry a much-needed boost with their successful "Cash for Clunkers" program .
Forget about replicating the success of the surge in Iraq: Whoever came up with "cash for clunkers" should be put in charge of everything. The clunkers program ended Monday -- under budget -- after moving almost 700,000 new fuel-efficient cars through an auto industry in the grip of rigor mortis. To put things in perspective, the whole program cost less than 2 percent of AIG's bailout.
The Senate is finally getting around to approving more money for the wildly successful "cash for clunkers" program, which seems to have saved the auto industry from the forces of recession and bankruptcy. With an additional $2 billion on the way, the administration hopes to transform 500,000 more clunkers into cleaner, smaller, more efficient vehicles.
One country, so many clunkers: The U.S. government-sponsored "cash for clunkers" program has come to a halt after six short days of enticing car owners to sacrifice their gas-guzzling relics to the scrap-heap gods and drive off in newer, greener models.
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