Sunday, April 17, 2005

More News Confirms A Falling Economy

Future News-More News Confirms A Falling Economy
Bill Tenuto
April 17, 2005

I posted "U.S. Economy Headed for a Fall" on March 14, 2005. I opened the piece with this brief prediction:

"The economy will soon take a downturn…."

One month later, on April 15, 2005, the following reports about an economic downturn appeared in the news:

From NBC Nightly News (April 15, 2005)
"A huge mood swing as investors believing the economy was moving at a good clip suddenly fear the economy is slowing down. Frothy, happy conditions in early March, and now you're seeing investors bleeding and hurting everywhere."

From CNN's Lou Dobbs Tonight (April 15, 2005)
"Stock prices today plunged on Wall Street. The Dow Jones industrials fell almost 200 points. That's the worst single day decline in nearly two years, in fact. The Dow over the past three days has fallen more than 400 points. A new report today showed consumer confidence at the lowest level in a year and a half. All of the major markets suffered huge losses on the week."

And from, Live Market Analysis (April 15, 2005)
"Stocks got hammered for the third straight day, as an earnings miss from IBM and disappointing economic data further exacerbated concerns of a weakening economy."

It appears an economic downturn has begun.

Copyright 2005 by William L. Tenuto


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