Economist says recovery under way in Wisconsin
MADISON, Wis. (AP) — Wisconsin's chief economist says the recession that hit the state in late 2008 was the worst downturn since the Great Depression but recovery is under way.
Department of Revenue economist John Koskinen told an Assembly committee on Tuesday that Wisconsin will match or exceed national economic growth next year. But he says it will take years to return to 2007 levels.
Positive signs he outlined include growth in industrial production, a recovery in equity markets and an improvement in state unemployment rates.
Zach Brandon, a top official with the Wisconsin Department of Commerce, said new tax breaks and incentives enacted this year put the state in a good position to attract and retain companies.
Oct 13, 2009 at 4:33 p.m.
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Well, we do know that there are concrete signs of recovery. That's not something that's subject to opinion. The stock market has stabilized close to 10,000, and job losses have slowed. Even housing starts are inching back up. Of course, we're still IN a recession, and jobs are not expected to recover very quickly at all, but the contraction appears to be over for the time being.
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It's not like they're waving their hands and making factories report orders that don't exist. Nor are they saying things are great, just expressing cautious optimism that the worst is behind us.
Oct 13, 2009 at 1:32 p.m.
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I want some of what John Koskinen, and Zach Brandon are smokin', they gotta be high.
Oct 13, 2009 at 12:58 p.m.
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Do you want to know what's REALLY going on with the economy? Follow Minyanville's daily reports.
http://www.minyanville.com/
Oct 13, 2009 at 12:11 p.m.
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sannio-that's the bottom line. We'll continue to hear these clueless economists tell us how we are "turning the corner" right into great depression 20% unemployment levels. Not one of these "experts" predicted the housing collapse, but now they are telling us we are recovering. Here's someone who did predict the collapse, he was laughed at. http://www.youtube.com/watch?v=2I0QN-FYk...
Oct 13, 2009 at 11:33 a.m.
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The experts say it, so it must be true.
Oct 13, 2009 at 11:24 a.m.
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The Wisconsin's chief economist is an idiot, plain and simple. We're increasing our debt to get out the mess debt created. We're doing the same thing over and over expecting different results. Each successive downturn will be worse than the last until our fiat money system collapses, as has every fiat money system in the past. Every single one of them. No exceptions.
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