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Speaking of sequestration, where is the horrible economic outcome that Mircea predicted (back in January) would have overcome the economy by now?
Printed away by the plunge protection team. https://en.wikipedia.org/wiki/Workin...ancial_Markets The sharp up kick in the stock market after sequestration went through pumped enough money into the economy to make up for the losses from sequestration.
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Originally Posted by shaker281
I guess he slunk away, like so many other, to avoid being accountable for his prediction? The nice thing about making predictions on the internet is they remain there in black and white for those with long memories to remember fondly.
Less the actions of the Fed the economy should have collapsed after sequestration. The Fed has a presidential mandate to keep the markets from collapsing.
Printed away by the plunge protection team. https://en.wikipedia.org/wiki/Workin...ancial_Markets The sharp up kick in the stock market after sequestration went through pumped enough money into the economy to make up for the losses from sequestration.
Less the actions of the Fed the economy should have collapsed after sequestration. The Fed has a presidential mandate to keep the markets from collapsing.
Bubble blowing is the result.
Which only "proves" it was managed successfully. Yet, correlation does not prove causation. FED action is only one factor driving the stock market. Ignoring everything else is merely convenient.
Whether we see a "bubble" (seriously over used catch phrase IMO) or a cyclical correction remains to be seen. Everything doesn't have to be a bubble. And the dot.com "bubble" was different from the credit "bubble" in formation, causation and impact. While an apple and a tomato have many similarities they are, in fact, entirely different fruits.
Which only "proves" it was managed successfully. Yet, correlation does not prove causation. FED action is only one factor driving the stock market. Ignoring everything else is merely convenient.
All to true.
Quote:
Originally Posted by shaker281
Whether we see a "bubble" (seriously over used catch phrase IMO) or a cyclical correction remains to be seen. Everything doesn't have to be a bubble. And the dot.com "bubble" was different from the credit "bubble" in formation, causation and impact. While an apple and a tomato have many similarities they are, in fact, entirely different fruits.
No everything doesn't have to be a bubble. Economic stagnation isn't a bubble. A recovery that doesn't grow faster than the population isn't a recovery ether. And most people call tomatoes veggies but most people are technically wrong.
And stagnant growth at 0.25% prime with QE I, QE II, and QE III isn't a healthy economy. It is a very sick economy. It wouldn't take much for things to go from bad to really bad.
They don't OWN the mansions, however. The typical scenario here would be a bank or builder making no money at all off a vacant property who starts taking Section-8 housing vouchers just to make any buck at all. Many who are eligible for Section-8 are aslo eligible for food stamps.
Actually they were found to own several properties and have income from the properties not reported in order to get government benefits as well.
But thanks for supporting your views.
At a snails pace it is improving. Our government is still holding our entire economy up though. As soon as the government gets its hands out of the many sections of our economy, like our stock market, we will go through another crash.
This is the longest streak of elevated unemployment our country has ever seen. Sure, it is getting better, at about the pace that it takes grandma to climb the stairs. Keep in mind too that a huge chunk of the drop in unemployment we have experienced is not because of job growth, but because of people retiring.
This is the longest streak of elevated unemployment our country has ever seen. Sure, it is getting better, at about the pace that it takes grandma to climb the stairs. Keep in mind too that a huge chunk of the drop in unemployment we have experienced is not because of job growth, but because of people retiring.
This is still a localized problem. It's been years since I have seen so many "help wanted" signs here, construction is booming with homes, apartments and office buildings. Homes are selling in a few days above asking price and values are already above what they were in 2006 and running 10-13% increase a year. Where I work we currently have 18 jobs open and several are new positions just created.
How long did it take for the economy to get back on track after the late 70s early 80s recession? It was not near as bad then as this recession is. I moved from Michigan were it was horrible to Florida where it was not noticed there was a recession. This time round Fla and Cal, was hit as hard or harder then places like MI. MI took to about 1990 before it was really back on track. I don't believe that the artificial low interest with rising consumer prices is a good thing.
Good words. The 70s and 80s recession get compared to the Great Recession a lot lot over on the politics board but as someone born in Florida in the late 80s and most of my family moving there in the early 80s I ask them about that early 80s recession and they didn't even know it happened......
This is still a localized problem. It's been years since I have seen so many "help wanted" signs here, construction is booming with homes, apartments and office buildings. Homes are selling in a few days above asking price and values are already above what they were in 2006 and running 10-13% increase a year. Where I work we currently have 18 jobs open and several are new positions just created.
I have heard that it is very regional, yes. I look at the data on metropolitan unemployment every month and definitely some cities are doing a lot better with getting jobs available to the people.
I unfortunately have spent the past 8 years of my life in Florida or Atlanta and the effects of the recession permeate every section of life. Even now, after all these years, the economy in both those areas is doing quite poorly. Some cities are doing okay, like Orlando and Jacksonville, but for the most part all the rest are not doing well.
That is why I am moving to Colorado in a few months. Florida will always be my home but my memories there will always be tainted by the recession and how difficult it was to find work. I never want to live there ever again.
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