[Marxism] Reasons to Be Cheerful
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.
Reports from the Federal Reserve Banks indicate that overall economic
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
Manufacturing activity weakened across a broad range of industries in most
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
Home prices and construction were still falling in most areas, but
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
conditions persisted in the Dallas and San Francisco Districts.
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