Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,831,906 times
Reputation: 6438
Advertisements
Note the date. Note he said we'd miss a recession. Note how we're in a recession. Note that he was wrong and full of sunshine. The OP posted a link to the same guy....being full of sunshine.
At least he hasn't changed his tune in years. I was wondering if I'd find that he was like, in charge of a company that had like, two people in it, but 1.2 billion ain't bad.
Here's two charts. The first one was bad. The second one? I think it's just as bad.
http://www.speculativebubble.com/images/homevalues1.gif (broken link)
The market crashed in 1929 but didn't hit bottom until 1934 and then went flat until WWII.
Nope. The DOW bottomed in 1932 and actually doubled between 1934 and the start of WW2! The markets oscillated in a broad range during the war and until 1950.
Quote:
Originally Posted by HappyTexan
The guru's have been preaching "bottom and recovery" since last summer. If anything the economy is now worse than last summer.
Did you think about this before you typed it? Yes, the economy is worse now than last summer, which would mean ahem...its closer to bottoming than last summer!
2010 will be worse than 2009. Until we find a way to get through all the foreclosures (Millions), nothing is going to change. I feel this recession will last at least a few more years.
It simply does not matter. The DOW is a terrible indicator as it is massaged to make things look better. All the "gains" this year are due to abysmal bond yields and inflation of the money supply. So the 12,000 dow will go with 5.00 gasoline and a 8.00 coffee. Suckers.
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,831,906 times
Reputation: 6438
That's what I've been wondering, lately. Where does all this money go that's been dumped in the economy? It's borrowed money to fill a hole created from false wealth. That sounds like a paradox, but that's the way I see it. It also sounds unsustainable. Much like a housing market that always goes up, eventually, you mut pay the bills.
Well we know it's gone to the banks and the auto industry. The auto industry used it for operating expenses but the banks..well that gives cause for some good speculation.
I think they used it to play the markets to try to make back money..after all these are investment banks and with millions/billions to spend you can make some big money pretty quick.
I'd agree that the sky is not falling but one would have to be doing some pretty heavy drugs to think the Dow is climbing to 12K in the next three months.
Ummm, it went from 6,547.05 on March 6th to 8799.26 today, which is a 26% gain. If it does that in the next three months, it'll be at 11,890.89. Likely? - No. Possible? - Certainly.
I love the way the media tells us those collecting unemployment dropped by 600,000. What they failed to tell us is that many if not most of those individuals just ran out of benefits and fell of the unemployment rolls. What a bunch of nonsense they are feeding us.
I agree. I wonder how many of those 600,000 are now flipping burgers or just sitting glaze eyed on the couch watching Judge Judy???
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
