Morgan Stanley has published a report this morning entitled “Dangerously Close to Recession,” which warns that, well, the U.S. is “dangerously close” to a recession in the next six to twelve months, a situation it blames on “policy errors.” Since the NYSE opened today, the Dow is down almost 500 points.
Meanwhile, the National Journal reports that:
President Obama countered many Wall Street analysts, saying on Wednesday that the U.S. is not going to have another recession.
“I don’t think we’re in danger of another recession,” Obama told CBS News. Obama did note that the recovery has not been fast enough, blaming the Arab spring, high gas prices, and March’s earthquake and tsunami in Japan.
That’s a relief, then.