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Oh crap! Here we go...Ya, old people are stupid don'tcha know?
Now you're catching on.
I notice you didn't refute a single word I said.
During the recession 1958-1960 the stock market set new records.
After the economy recovered and began growing at a rate of 6%, the stock market collapsed in 1961 losing 20.6% of its value before losing another 5% for a total decline of over 25% (um, gosh, golly, where I have I seen that number 25% before -- could it be the 1929 Crash? Um, yesiree).
Why don't you enlighten everyone and explain how the stock market could soar and break records on a monthly basis during a recession.
And then you can explain why the stock market crashed while the economy was booooming at a nice rate.
If you can do that, that'll make you smarter than Michael Chang.
Quote:
Originally Posted by Happy Texan
So unless we all have degrees in economics and don't read websites you question then we shouldn't post here ?
No, you should post in the Conspiracy Sub-Forum.
Quote:
Originally Posted by Happy Texan
and the slide back into recession could come within 12 months, U.S. economist Nouriel Roubini said Wednesday."
More like 12 days, but you won't see that until the data is published in December.
You should expect the economy to teeter on unexciting growth and slight contraction for the next 5 years or so until the bottom falls out and growth is negative in the -12% to -20% range (and yes that will be the real depression).
The article is correct, the only thing to add is that the reason the shell game of transferring the toxic assets and cash back and forth will not work, is that it depends on the public eventually bailing them out by purchasing the toxic assets. This is not going to happen because one, the public is broke, unemployed, and the money is all concentrated at the top of the food chain. Two, the demographics of the population is such that their is little demand for the oversupply of real estate. They will therefore slowly bleed the American people dry, by increasing the size and power of government along with taxes in order to continually give away money to the banks in a program of government bank subsidies or as they like to call it QE.
What's the latest on the failing bank in Kabul? Are American taxpayers going to have to bail them out too, to the tune of billions, just to keep the "global economy" for the rich afloat?
During the recession 1958-1960 the stock market set new records.
After the economy recovered and began growing at a rate of 6%, the stock market collapsed in 1961 losing 20.6% of its value before losing another 5% for a total decline of over 25% (um, gosh, golly, where I have I seen that number 25% before -- could it be the 1929 Crash? Um, yesiree).
Why don't you enlighten everyone and explain how the stock market could soar and break records on a monthly basis during a recession.
And then you can explain why the stock market crashed while the economy was booooming at a nice rate.
If you can do that, that'll make you smarter than Michael Chang.
No, you should post in the Conspiracy Sub-Forum.
More like 12 days, but you won't see that until the data is published in December.
You should expect the economy to teeter on unexciting growth and slight contraction for the next 5 years or so until the bottom falls out and growth is negative in the -12% to -20% range (and yes that will be the real depression).
Defend? Since when was posting here an act of war? I was under what seems to be the mistaken impression that this board was a discussion forum.
Now, please back to a discussion of the topic.
Well then discuss something instead of spamming Doom & Gloom nonsense from sources that clearly have a (twisted) agenda.
I noticed you haven't followed the trail to see who's bankrolling the "Center for Garbage Research.com," which tells me and everyone else you have no real interest in learning the truth about anything.
Well then discuss something instead of spamming Doom & Gloom nonsense from sources that clearly have a (twisted) agenda.
Are you er...a Keynesian or something???
Only Keynesians think that in a few years, prosperity will return, and it'll be "off to the races" again for all of us. To heck with all the un-payable debt and the OTC derivatives marked to model...those things don't matter, do they???
I'm not qualified to judge the source or agree with the timing, but I do think it will happen at some point. It doesn't mean we won't survive as a people, we just may survive in a whole lot less comfort than we are currently accustomed to.
I used to be real optimistic, but after working for a huge national company who really doesn't care about anything or anyone beyond their profits, I've lost faith with the ability of mankind to control their personal greed.
I don't mind going down. I don't have that far to fall. But I know one day they will fall and it serves them right.
There's a difference between starting "a few links" and spamming the board.
If you want to peddle Global Regurgitation nonsense, perhaps you should get your own web-site.
Chang has been predicting a big global crash every month for a very long time and so far he's 0-51 on his predictions. The only thing he's interesting in is selling his "books."
In the first place, anyone with a degree in economics (like me) knows the "Great Stock Market Crash of 1929" was a non-event.
No stock market crash has ever caused a recession or depression and it never could. You might want to check your facts a little more carefully.
Anyone with a degree in economics should be shot - lol - why didn't you experts warn the American public sooner? Why do we find out everything after it's too late to even protest (well, there's the media along with the learned academics...)...
If the stock market crash of 29 was a nonevent, what in your professional opinion was its upshot? Even if it was a symptom rather than a cause, it was part of a cluster of symptoms that indicated the patient (the American & global economy) was very sick indeed.
Why did Christine Romer resign and "go back to teaching"? She didn't have any answers.
Last edited by RiverBird; 09-15-2010 at 04:33 PM..
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lol 
