economists in the latest Wall Street Journal forecasting survey<\/a>. On average, the 52 economists surveyed now expect gross domestic product to contract in the third and fourth quarters of this year, as well as the first quarter of 2009. If those predictions bear out, it would mark the first time U.S. GDP — the total value of goods and services produced — has contracted for three consecutive quarters in more than a half century.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"From the Wall Street Journal: The U.S. economy has sunk into a recession and government action is critical to stem the damage, according to economists in the latest Wall Street Journal forecasting survey. On average, the 52 economists surveyed now expect gross domestic product to contract in the third and fourth quarters of this year, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[26],"tags":[1363,27],"class_list":{"0":"post-732","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy","7":"tag-economy","8":"tag-recession","9":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-bO","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":725,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/10\/08\/100-economists-warn-that-barck-obamas-tax-proposals-could-throw-the-us-economy-into-recession\/","url_meta":{"origin":732,"position":0},"title":"100 Economists Warn That Barack Obama’s Tax Proposals Could Throw the US Economy into Recession","author":"Jeff","date":"October 8, 2008","format":false,"excerpt":"I've been debating whether to post this all day... Yes, it's from the McCain campaign but ultimately I think it would be foolish to dismiss the opinion of a group of experienced economists out of hand. Economists Statement On Barack Obama's Risky Economic Proposals 100 ECONOMISTS WARN THAT WITH CURRENT\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2452,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/07\/02\/unemployment-climbs-to-9-5-percent\/","url_meta":{"origin":732,"position":1},"title":"Unemployment Climbs to 9.5 Percent","author":"Jeff","date":"July 2, 2009","format":false,"excerpt":"Unemployment climbed to its highest level in 26 years rising to 9.5 percent in June. All told, 14.7 million people were unemployed in June: WASHINGTON (Reuters) - U.S. employers cut far more jobs than expected last month and the unemployment rate hit 9.5 percent, the highest in nearly 26 years,\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3580,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/10\/08\/u-s-economy-loses-95000-jobs-in-september-unemployment-remains-at-9-6\/","url_meta":{"origin":732,"position":2},"title":"U.S. Economy Loses 95,000 Jobs in September, Unemployment Remains at 9.6%","author":"Jeff","date":"October 8, 2010","format":false,"excerpt":"Stagnation... That's really the only way to describe today's jobs report. The U.S. economy shed 95,000 more jobs last month and the number of\u00a0 underemployed grew by 612,000, and now stands at 9.5 million people: WASHINGTON (MarketWatch) \u2014 The U.S. economy lost 95,000 nonfarm jobs in September as local and\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1075,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/12\/09\/my-give-a-damns-busted\/","url_meta":{"origin":732,"position":3},"title":"My Give a Damn’s Busted","author":"Jeff","date":"December 9, 2008","format":false,"excerpt":"I haven't been blogging much recently I've tied up a couple of projects that have to be finished before the end of the year, and frankly I'm so disgusted, disappointed and disillusioned with the behavior of our elected leaders my give a damn's busted. It doesn't matter what we think,\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3518,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/08\/25\/cnbc-economy-caught-in-depression-not-recession\/","url_meta":{"origin":732,"position":4},"title":"CNBC: Economy Caught in Depression, Not Recession","author":"Jeff","date":"August 25, 2010","format":false,"excerpt":"I be the first one to admit I'm a pessimist on the economy, but not even I'm this pessimistic: Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. Writing\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4617,"url":"https:\/\/www.jasetaro.com\/blog\/2012\/09\/07\/awful-u-s-added-96000-jobs-in-august-unemployment-rate-fell-to-8-1\/","url_meta":{"origin":732,"position":5},"title":"Awful: U.S. Added 96,000 Jobs in August; Unemployment Rate Fell to 8.1%","author":"Jeff","date":"September 7, 2012","format":false,"excerpt":"From MarketWatch: Nonfarm payrolls grew by a seasonally adjusted 96,000 in August, well below estimates and down from a respectable 141,000 jobs in July. The payrolls growth came in weaker than the 125,000 increase expected by economists surveyed by MarketWatch. The nation\u2019s unemployment rate fell to a seasonally adjusted 8.1%,\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=732"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/732\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}