http://news.yahoo.com/s/nm/20090429/bs_nm/us_usa_economy;_ylt=Al0SWT5UFPZAXpkpgjx4Vbfv5rEF
The U.S. Economy Shrink by 6.1% in the first quarter, hit by record plunge in business inventories and sinking exports, but yet investors still are seeing signs of recovery. The Commerce Department said last wednesday inventories were down by a record of a whopping 103.7 billion. But this could be good news for the economy because business have cut thr stick merchandise and that will help them to start placing new orders, stimulating production. The Frederal Reserve said the price of deterioation in the economy is slowing down and that the U.S. central banks will continue to keep their interest rates low. The Home-Building activity dropped 38% the biggest decline since the second quarter, but economist expect to see improvement in the quarters ahead. Exports dropped 30%, which is the biggest declinr in 40 years. A seperate report showed U.S. home loan applications fell 18.1% last week the lowest since mid-march. I chose this article because i felt it was important for people to understand the seriousness of this recession. I think some people dont really pay the recession to much attention because it doesnt affect them directly. It not till after they are affected by it that they now speak out and try to take it seriously. I think this information has been presented fairly because the person does not appear to take sides or stating his or her opinon just stating facts. Of course i would use yahoo news agian i think yahoo has great writers and they present the information fairly.
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great story!!! whos the arthor?;)
ReplyDeleteDeishnae, I agree it's a great story! Whoever the writer is gets 10/10. I also agree with your point that people may not take the bad economy seriously unless it affects them, which is too bad because it ignores a lot of people having problems.
ReplyDeleteTwo points: First, the article talks about the possibility of recovery this year, which you didn't address. Second, this particular news item was supplied to Yahoo! by Reuters, the oldest news agency in the world, so, yes, it's definitely reliable.
Grade: 10/10