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He posted one other article at one point, I'll have to go back and find it. If it wasn't him then I'll admit to the egg on my face with that point.
However getting back to the meat of my argument, it's not those who got themselves into credit card trouble or bought houses that they couldn't afford that I'm getting at. Again, I'll go back to you jumping on Metallisteve. Again, let's assume that he did spend a lot for his dinner. Should he not be able to, or does he need to fall in line with this "national malaise"? Every now and then I'll see someone on here or hear someone who'll say, "this place was crowded, I thought there's supposed to be a recession". Like this is a shock?
Not everyone spends out of their means. Not everyone will be brutally affected by this recession. Not everyone will lose their job and not everyone will lose their life savings, yet some on here (and in the media) act like it's a virtual certainty. Ridiculous! If you can go out for a nicer dinner that's within your budget, do so. Same thing for a big screen TV. Because if you don't, then those places (especially the local ones who you see the calls to support) wind up going under. Then those people aren't able to support the business they once used to and then they lay people off. Keeping people in business helps keep others in business. That's what I mean by "dragging this thing on longer than it needs to".
Location: Some got six month some got one solid. But me and my buddies all got lifetime here
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Just wanted to add the one thing that will most likely be overlooked in light of the layoffs from today (and for anyone who said that every economist doesn't see any end in sight)
Outlook: A recovery in sight?
Brusca said he agreed with many economists' predictions that the recession will end after the second quarter of 2009. Americans might feel the job market start to bounce back a bit sooner than expected, he said.
"These recessions are like geometry," Brusca said. "It looks like we'll have a V-shaped cycle, in that we're going into this with very sharp losses. This intense-phase recession will probably recover fairly quickly, with the job market coming out it at the same angle it came in."
In the short term, the economy and the job market are in trouble, Brusca said. But "it doesn't look like the bottom is falling out of the economy," he said.
And there's a silver lining to the gloomy clouds over America's economy.
"The good news is it's so bad right now that we will have a definite, noticeable recovery when it comes," Brusca said. "We're getting a lot of adjustment out of the way early."
How many of these experts predicting a quick recovery predicted the economic fallout seen in 2008? Why should they be believed if they were unable to see the approaching train wreck? Why is this a global issue and not just contained to the US if its going to be such a mild recession? How much worthless garbage in on the books in the global banking system? Why do these banks not just mark to market all their CDS's and MBSE's and operate in an environment where their investors can informed decisions based on their balance sheets? Why is Great Britain on the verge of default? Why did Iceland come apart at the seams, and why is Ireland next?
Provide a cogent answer to these questions and I might believe we're in for a mild/moderate recession. I'm not in the breadline crowd line of thinking yet; but a prolonged global economic downturn resembling Japan's lost decade is not out of the question.
Location: Some got six month some got one solid. But me and my buddies all got lifetime here
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Quote:
Originally Posted by jstubbspt
How many of these experts predicting a quick recovery predicted the economic fallout seen in 2008? Why should they be believed if they were unable to see the approaching train wreck? Why is this a global issue and not just contained to the US if its going to be such a mild recession? How much worthless garbage in on the books in the global banking system? Why do these banks not just mark to market all their CDS's and MBSE's and operate in an environment where their investors can informed decisions based on their balance sheets? Why is Great Britain on the verge of default? Why did Iceland come apart at the seams, and why is Ireland next?
Why can't the Rangers get guys like Wade Redden back on their game? Why can't the Yankees put together a winning season with all of the money they spend? Why is it Starbucks has to charge as much as they do for a caramel macchiato?
WHY CAN'T I TIME MY SIDE DISHES TO ALWAYS COME OUT AT THE SAME TIME AS THE MAIN COURSE?!?!?!?!?
Questions everywhere with nary an answer in sight.
Just wanted to add the one thing that will most likely be overlooked in light of the layoffs from today (and for anyone who said that every economist doesn't see any end in sight)
Location: Some got six month some got one solid. But me and my buddies all got lifetime here
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Quote:
Originally Posted by CouponJack
A "V" type recovery??? What did this guy predict back in '07 or '08? I'd like to hear where he was back then....
Just like the housing market, right? As soon as we hit the "bottom", things will start improving dramatically!
If you believe that, there's a bridge in Brooklyn I want to sell....
Read the article...
Quote:
Brusca said he agreed with many economists' predictions that the recession will end after the second quarter of 2009.
It's not just him, however him falling in line with others. He's not the first one I've heard say that very same thing as well.
I like ya and I really hate to burst your dark bubble, but there are people who do see a light at the end of the tunnel. Worse (!), apparently some are seeing it starting to happen sometime this year.
Pick your poison. Compare the predictions of these folks a year or more ago to what is happening today. Do I believe everything these folks write? No, because there are divergent opinions on where we're headed and how to head off any coming depression. You cannot make an informed decision without fully comprehending the opposing view point however.
I just don't see the excesses and bad decisions of the past 20 years (when the whole notion of a "Global Economy" really took hold) working itself out in a few short months or even a year.
How many of these experts predicting a quick recovery predicted the economic fallout seen in 2008? No one I was listening to . . . but then I decided on my own things were gonna come apart at the seams. I do my own analysis. Not that it matters, LOL.
Why should they be believed if they were unable to see the approaching train wreck? Agree
Why is this a global issue and not just contained to the US if its going to be such a mild recession? It is not a mild recession. Did someone say it was a mild recession?
How much worthless garbage in on the books in the global banking system?
Uh, no one knows. That is why we are in this mess.
Why do these banks not just mark to market all their CDS's and MBSE's and operate in an environment where their investors can informed decisions based on their balance sheets? Impossible. All this junk was bundled. No one knows what they hold.
Why is Great Britain on the verge of default? Same reason we are.
Why did Iceland come apart at the seams, and why is Ireland next? Same reason we are.
Provide a cogent answer to these questions and I might believe we're in for a mild/moderate recession. I'm not in the breadline crowd line of thinking yet; but a prolonged global economic downturn resembling Japan's lost decade is not out of the question.
Agree.
Supposedly, we have already been in this recession 14 months. We will doubtless be in it at least another 12-18 months.
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J/K
