S&P: Chances of Recession Have Doubled

[BurtWorm]

http://www.nytimes.com/aponline/business/AP-SPs-Recession-Odds.html?pagewanted=print


By THE ASSOCIATED PRESS
Filed at 3:03 p.m. ET

NEW YORK (AP) --The likelihood of a recession has doubled in the aftermath of Hurricane Katrina, credit rating agency Standard & Poor's said Friday.

The likelihood of a recession has increased from less than 12 percent to 25 percent following Katrina, the agency said.

''What would drive it is $100 (a barrel) oil prices,'' said Beth Ann Bovino, a senior economist at S&P. ''While the possibility has risen, we're pretty confident of the health of the U.S. economy.''

Insurance risk assessment companies estimate that insurance claims from Katrina could top $25 billion, but once damage to roads and bridges is factored in, Katrina could cost $50 billion, S&P said.

[GreenPartyVoter]

1. I think the word they are looking for is

DEPRESSION

-----------------------------------------------------
Save New Orleans, then save this country!
http://timeforachange.bluelemur.com/electionreform.htm

[4 t 4]

2. I have a very, very

wise and rather psychic mother the first thing she said when this happened was "we are now going to see a recession"

[whistle]

3. It is now a certainty because interest rates will skyrocket as U.S.

...dollar value drops and all costs rise into double digit increases over the coming months. The U.S. economy will got into free fall without a steady supply of energy at reasonable costs. Good for those in-charge of economy (insiders) bad fro the rest of us.

Bush has called on all Americans to share in the cost of the clean-up to come in the Gulf coast areas affected to the tune of $50 billion while nearly a million people from New Orleans have been turned into refugees overnight without homes, without families, without jobs, without any resources and without any federal help. Wiped out!

[liberal N proud]

4. WE have been in a recession for the last 4+ years

Since GWB was placed in office by the SC.