[Marxism] Reasons to Be Cheerful

S. Artesian sartesian at earthlink.net
Wed Apr 15 13:12:23 MDT 2009


Speaking of blockheads, this, apparently, is what makes Ben and Barak 
"optimistic" that the light they think they see at the end of a tunnel is 
NOT a tracer round coming their way.

Summary*
Reports from the Federal Reserve Banks indicate that overall economic 
activity
contracted further or remained weak. However, five of the twelve Districts 
noted a moderation in
the pace of decline, and several saw signs that activity in some sectors was 
stabilizing at a low
level.

Manufacturing activity weakened across a broad range of industries in most 
Districts,
with only a few exceptions. Nonfinancial service activity continued to 
contract across Districts.

Retail spending remained sluggish, although some Districts noted a slight 
improvement in sales
compared with the previous reporting period. Residential real estate markets 
continued to be
weak.

Home prices and construction were still falling in most areas, but 
better-than-expected
buyer traffic led to a scattered pickup in sales in a number of Districts. 
Nonresidential real estate
conditions continued to deteriorate. Difficulty obtaining commercial real 
estate financing was
constraining construction and investment activity.

Spending on business travel declined as corporations cut back. Reports on 
tourism were mixed. Bankers reported tight credit conditions,
rising delinquencies, and some deterioration of loan quality.

Agricultural conditions were generally favorable across Districts, although 
drought
conditions persisted in the Dallas and San Francisco Districts.

full at: 
http://www.federalreserve.gov/fomc/beigebook/2009/20090415/fullreport20090415.pdf





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