Posts Tagged ‘economic recovery’

A Notable Poll On Economic Conditions

Monday, February 22nd, 2010

Here is poll (in PDF format) on economic conditions that I believe is highly notable.  It is from CNN and was conducted February 12-15, 2010.

The question presented was “How would you rate the economic conditions in the country today — as very good, somewhat good, somewhat poor, or very poor?”

A total of 83% replied economic conditions were “somewhat poor” or “very poor.”  44% of respondents said conditions were “very poor.”

Of further note, when one looks at the trend of the responses, there hasn’t been much of an improvement from year-ago levels.

Although this is only one survey, I think it is notable in that it seems to belie many other economic statistics that have been used to support the widely-held theory that we are in an economic recovery.

This survey seems to support other statistics that indicate that many people believe current economic conditions to be poor – if not very much so.  However, at the same time, some economic conditions surveys (and various economic indicators) show expectations for a strong economy in the future.  One example of this was noted in my January 4 post, which is found here:

http://www.economicgreenfield.com/2010/01/04/consumer-confidence-disparities/

In my opinion, this large dichotomy can not, and will not, last.

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SPX at 1108 as this post is written

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More Questions Regarding Green Shoots

Sunday, June 28th, 2009

In the last post, Warren Buffett commented what he was seeing with regard to signs of an upturn.  This link contains what John Rice, Vice Chairman of GE recently (6/19) said:

“I am not particularly of the green shoots group yet,” Rice said today to the Atlanta Press Club, referring to a phrase used by Federal Reserve Chairman Ben S. Bernanke that described signs of a nascent recovery. “I have not seen it in our order patterns yet. At the macro level, there may be statistics suggesting the economy is starting to turn. I am not seeing it yet.”

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ayc5BDPO_GGs

Between Warren Buffett and John Rice, there is a tremendous size and breadth of businesses overseen.  Their comments seem to support the question as to whether “green shoots” exist, i.e. is the economy showing signs of recovery?

This question is absolutely critical at this juncture, for a variety of reasons.  Perhaps chief among them is the following:  If there currently is no economic recovery, how sustainable is the stock market (as well as other markets’) rally since early March?  If there is no economic recovery, is that some type of proof of the ineffectiveness, or failure, of the intervention efforts?  Are we heading toward Sustainable Prosperity?

SPX at 918.90 as this post is written

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