I am in favor of the theory of we are already in recession. At the least things can only get better. What do you think, and any sign job markets get better?
Not sure a one day move is a sign of anything but I think we are in a recession. Things will get worse as will the job market.
Why you think market can only get worse, things should pick up soon if we are in the recession as things can only get better from the bottom? I am a newbie, sorry if my comments are naive.
Dont be calling bottoms…
Yes we are. We will all be fired soon. I know my BB firm will be announcing layoffs around earnings time.
George Bush says we are NOT in a recession. So there.
George Bush has said alot of silly things.
put it this way - 3/5 of the jobs i interviewed for in banks were cancelled
virginCFAhooker Wrote: ------------------------------------------------------- > George Bush says we are NOT in a recession. So > there. Lol, yeah that Bush interview a few days ago was hilarious…he said a lot of BS.
AssetMgrWannabe Wrote: ------------------------------------------------------- > I am in favor of the theory of we are already in > recession. At the least things can only get > better. > That’s not close to true and I can’t see the mechanism for straightening this out in the short term (the tax rebates are a joke and the Fed has used up their ammo). I think we are getting ourselves into a 5-10 year problem. It really feels like 1972 or something (no Watergate yet, fortunately) to me. I will not wear any polyester leisure suits this time around however.
I agree with Joey. Not sure if we are there yet, but I think this one will be much tougher than the last two. Bernanke is likely a one-and-down chairman, THANK GOD!
Actually Bush said on Thursday that we are now in an economic slowdown, the moment I heard the news, I thought “well, better go short ASAP.” I shoulda believed myself, because it was only 3pm on thursday or something. I’m sure that a lot of market participants thought that if even “the great denier” says the economy is slowing down or in recession, then the crap must really be ready to hit the fan and bailed out. As for how bad/deep it will get, I think it’s going to be like 1974-82. We have an awful lot of sins to pay for in the US. We got this war (like Vietnam), we got lots of debt spending (like the great society, only privatized, and not so noble), dollar is in free-fall (like what took us off the gold standard).
AssetMgrWannabe Wrote: ------------------------------------------------------- > Why you think market can only get worse, things > should pick up soon if we are in the recession as > things can only get better from the bottom? I am a > newbie, sorry if my comments are naive. At some point that will be true, I don’t think we are there yet…we might not even be close.
bchadwick Wrote: ------------------------------------------------------- > Actually Bush said on Thursday that we are now in > an economic slowdown, the moment I heard the news, > I thought “well, better go short ASAP.” I shoulda > believed myself, because it was only 3pm on > thursday or something. > > I’m sure that a lot of market participants thought > that if even “the great denier” says the economy > is slowing down or in recession, then the crap > must really be ready to hit the fan and bailed > out. > > As for how bad/deep it will get, I think it’s > going to be like 1974-82. We have an awful lot of > sins to pay for in the US. We got this war (like > Vietnam), we got lots of debt spending (like the > great society, only privatized, and not so noble), > dollar is in free-fall (like what took us off the > gold standard). My feelings exactly except the last time we had Ronald Reagan on his horse to rescue us.
The horse probably had little to do with it. Greenspan was appointed by Reagan to rescue us. Greenspan didn’t do it alone. He was just acting as a mindless minion for Ayn Ryan.
Ayn Ryan? Ayn Rand maybe?
Actually I meant Ann Ryan, the little known Irish folksinger.
Oh right - Irish folksinging…
Not trying to start a democrat vs republican debate, but i think the democrats will make substantial changes in office in a year that will prevent a 70s type situation.
I remember what a great job Jimmy Carter did heading off all those problems. Edit: Ok not fair, but the damage has been done and we will have to live with it no matter what. How much money have we thrown down the drain in Iraq? How well has Bush’s weak dollar, beggar your neighbor financing worked in a global economy when Chinese and Indians are willing to work for nothing? How are we going to untangle the housing mess without doing more damage? Who is teetering on the brink right now?