Thread: Merrill Economist Forecasts Worst Recession in 25 Years

Merrill Economist Forecasts Worst Recession in 25 Years

David Rosenberg, chief economist for Merrill Lynch, has issued a stark warning: the U.S. is heading for the worst consumer-driven recession since 1980.

What’s more, said Rosenberg, neither aggressive interest rate cuts by the Federal Reserve nor a federal fiscal stimulus package will stop the momentum.

“The recession in housing has spilled over to the rest of the economy, in our view. We now expect an outright contraction in economic activity in the first three quarters of 2008. This downturn should be led by consumer spending,â€

Well then I guess we need to import more illegal aliens, they are supposed to be great for our economy, right? If we are having a recession with 20 million of them, maybe we need another 20 million?

I would sure love to ask US Chamber President "dumb as a box of rocks" Donohue this.

Originally Posted by Bowman

Well then I guess we need to import more illegal aliens, they are supposed to be great for our economy, right? If we are having a recession with 20 million of them, maybe we need another 20 million?

I would sure love to ask US Chamber President "dumb as a box of rocks" Donohue this.

LOL Well said! I wouldn't be surprised if they try to use this as an angle to push amnesty. Based on their math we'd all be rich and happy...