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I guess there's still some time left in 2015 for a crash to happen. M&A activity seems to be solid and stable this year. Companies flush with cash are starting to deploy it, either as capital or to purchase other companies for strategic reasons. Consumers are still not itching to spend, with the latest data showing that individuals used their increasing incomes last month to save more money. Household debt is down, savings is up, and economic growth is slow but steady.
Well, they claimed they did after the fact. Some might actually have done so, although I'm skeptical.
I'm sure that some predictor of economic calamity will get a prediction right sooner or later given that even a broken clock is right twice a day.
Just like Meredith Whitney who got instant fame for predicting the financial crisis. She probably should have stopped right there.
But she went on to predict a couple of years later that hundreds of billions of dollars in municipal defaults were coming. Oops! She missed that one.
Then she wrote a book predicting the middle of the country doing well and the coasts would not. Even started a hedge fund investing under that theory. That did not work out well and one of the main backers sued for their money back.
She could have quit predicting after she got the first one right. But I guess their ego keeps them trying to duplicate their one success. Which is why is is good to remember 'caveat emptor' when it comes to listening to these people
If you want predictions, go see a tarot card or tea-leaf reader. No one's predictions will be any better than theirs, and the entertainment value delivered by these folks tends to be quite high on average.
The cool thing about a forum is its archival properties. You can pretty much go back every month and see a post claiming "crash around the corner." By now we should be living in Mad Max land.....
The cool thing about a forum is its archival properties. You can pretty much go back every month and see a post claiming "crash around the corner." By now we should be living in Mad Max land.....
Absolutely. Lots of sky-is-falling posts on this forum. I don't go back a month or so. I look back years to the posts from people like Jimhcom and see the same dire predictions. At that point it is time to stop even trying to have a discussion with people who have been consistently wrong.
The cool thing about a forum is its archival properties. You can pretty much go back every month and see a post claiming "crash around the corner." By now we should be living in Mad Max land.....
so true. wasn't Greece supposed to have destroyed the entire world by now?
Easter bonnetism. AKA, peacock syndrome. If a manaufactured meme can be dressed up with some sort of in-the-knowish, slick-sounding hipsterism (PIIGS, BRIC, etc.), many enough will parade along the avenue wearing it for no other reason than that others admire them for it. Vanity can be a powerful motivator, though usually not a beneficial one.
The funny thing is eventually one of these skyfaller's will be right. They will then write a book and make a ton of money.
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