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207 Comments
- inactive, on 04/13/2009, -20/+51Gosh darn it to heck that Hussein Obama is plunging this economy into the depths of ... Sorry what? Really?
Crap.
Um ... Ummmm Birth Certificate!!!
*runs away screaming and foaming at the mouth* - Moonkeeper, on 04/13/2009, -10/+38So, economists that were wrong about the severity, length and scope of this recession now believe its going to end? WOHOO! Happy days are here again......
- MrFunStuff, on 04/14/2009, -6/+30Peter Schiff debating Art Laffer on CNBC before housing bubble busted
http://www.youtube.com/watch?v=p7aQXuauR9g
like Moonkeeper post says
"economists that were wrong about the severity, length and scope of this recession now believe its going to end?"
Let try listening to people how saw this recession coming. - inactive, on 04/14/2009, -6/+28............................................________
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...................................,<`.._|_,-&``................`\ - brickbat, on 04/14/2009, -7/+28That's what the Japanese said in year 2 of the lost decade.
- inobla, on 04/13/2009, -10/+30It's a long shot but I'm hoping to see you get another front page hit with this article. I'm so freaking burned out on the paranoid apocalyptic doom crap.
- Ouze, on 04/14/2009, -3/+23Wasn't this network that predicted the market had bottomed out in July 2008?
http://www.cnbc.com/id/25932873
And wasn't the the same guy as the first link, who just a few months later, predicted the market would drop to 4700?
http://www.thestreet.com/story/10441974/1/why-im-n ...
Seriously, how the ***** do these guys get to keep their jobs? You perform like this at McDonalds, you wouldn't clear the 90 day probationary period. - nofreedom4theUS, on 04/13/2009, -24/+42You live in a dream world NoLibs. Of course when you inject this money everything will be fine for a little bit. What happens when the bill comes due on the borrowed money and American taxpayers will be responsible for it? Nobody will have extra money to buy new items which will make the economy stall again. Do you propose we inject more money then?
Think about this on a personal level. If you have a bunch of debt and you can't afford to live, do you get another credit card to pay off that debt? You could and you'd be fine, for awhile. After 6 months you'd be way worse off. Do you get another credit card at this point? What happens if your credit gets denied after that?
Our nation was built on savings until the bankers took it over and now it's built on debt. It's like a pyramid scheme...eventually it crashes. So, just like a pyramid scheme, we need more players....so let's talk global currency. What happens when that's tapped out? Do we look for other planets so we can have interplanet currency to again get more players to enslave? - NoLibertarians, on 04/13/2009, -8/+265 weeks of increases in the market is no fairy tale. Nor is the market to market rule change.What you meant to say is you are praying the economy crashes.Shame on you! This woman, who is much more intelligent than you, thinks otherwise.
- geekee, on 04/14/2009, -4/+21Sorry, but you can't just print, borrow, and spend your way out of a recession. You may reinflate the credit bubble for awhile, but someone always has to pay for it in the end. So who pays for it when the Fed takes junk assets as collateral of trillions worth of loans? Anyone who has saved any money, when inflation hits. If your salary doesn't keep up with inflation, you'll be paying too. Then there's the interest on the national debt, which you will pay if you pay taxes. Also, expect them to raid social security to pay down the debt.
So, who got the money that we are all paying> Anyone who cashed out the house(s) at the market peak, for one. Also, anyone who got a big bonus for selling these junk loans that got us into this mess.
So why aren't we investigating the massive fraud that caused this mess? Some answers here
http://digg.com/business_finance/Geitners_Deceit_W ... - Hetman, on 04/13/2009, -10/+27He said it during the 80s and he will say it again in another 20 years if he is still alive. Everytime there is a downturn in the market RP acts like the world is ending. He is predicting the same thing now that he did in the 80 hyperinflation deppresio, the end of america etc. He seems to refuse to understand the cyclical nature of the economy.
- jimbo92107, on 04/14/2009, -3/+20Why would anybody be stupid enough to pay attention to anything they see or hear on CNBC? This is the same network that features a clown ringing a cow bell while touting Bear Sterns...just before it collapsed.
And the clown is still on the air. - NoLibertarians, on 04/13/2009, -12/+28Decent news rarely makes it to the front page.Digg is mostly a site for the pissers and moaners of the world
- MrFunStuff, on 04/14/2009, -3/+19Yet unemployment still raises.
"The head of the Federal Reserve regional bank in Dalla, Richard Fisher, said this week that the US unemployment rate could exceed 10 percent by year-end."
http://www.google.com/hostednews/afp/article/ALeqM ...
I'm not happy about it ether but we have to be realistic hear.
We shouldn't be declaring the hard times are over because a article from CNBC said "nation's economy MIGHT see an upward shift in the latter half of the year. - SchmuckofNI, on 04/14/2009, -6/+20It will never be over until the U.S is back on a sound monetary system.
- inactive, on 04/14/2009, -2/+15Do the opposite of CNBC, get rich
- inobla, on 04/13/2009, -27/+40Oh, maybe RP meant the *next* recession will last for 15 years.
- algaeturd, on 04/14/2009, -10/+23*****. This is hilarious. Anyone who has studied the economy at all knows that the worst parts of a recession are in the ripple effects. These are long lasting and DEEP. Anyone who is in the middle class and lower class won't see any kind of improvement for at least 4-5 years. Yes, the corporations and those with lots of investments will see an improvement but the major employers will still be shy about committing to any kind of growth.
Speculate all you want...I'm speculating as well obviously, but there will NOT be much of a change in the next few years for the average person. It doesn't hurt to be optimistic but it's kind of dangerous to be unrealistic about everything. - kolobcreek, on 04/14/2009, -2/+15yep same smashing reporting that kept us from getting into the last mes.
- necoates, on 04/14/2009, -3/+14All right kids, we have been in a deflationary period cause by loans disappearing. So to correct this the Fed is trying very hard to massively Inflate, and by their own admission if they don't pull the plug on the inflation at the exact right time we are going to go through a crippling period of massive inflation.
The Only way to cure this is raise interest and cause deflation! Causing more of the same
Anybody see a trend here? This is far from over. - NoLibertarians, on 04/13/2009, -21/+31Actually no, he meant depression. He meant he was going to be depressed for then next 15 years for being so wrong
- ironhide, on 04/13/2009, -3/+12Maybe you should broaden your reading material.
http://www.laprogressive.com/2009/02/18/guess-what ...
http://unreasonable.org/node/2230
http://www.knoxviews.com/node/10871 - iancgi, on 04/14/2009, -1/+10This article is completely wrong furthermore it was submitted by a complete government shill, The economy is not getting better it is getting worse, the only way to fix this mess is abolish the federal reserve and letting congress print money instead of private interests. This article is meant for people to invest more money just so they can get their greedy little hands on every last penny.
- NoLibertarians, on 04/14/2009, -14/+23LOL
- Hetman, on 04/13/2009, -10/+19As soon as you try to use analogy of your personal finiances I know you have no understanding of what is going on. There is a difference between micro and macro economics. Just like the 30s we can use keynsian economics to stimulate the economy. It worked then and it is working as we speak.
- OwdenBowden, on 04/14/2009, -0/+9I have a dream that backwards ass Inbred imbeciles would actually stop screwing their immediate family members, and use the time to get a real education (reading Big Boy and Girl Books ) instead of reading the Comic Book version of History (and getting their WP education from WhitePower-U) - then each of you would understand that Race, Creed, Color, and Religion plays no basis on whether a person is right or wrong; Good or Bad - or anything for that part.
As for this Persons forecast of the economy - I am in the business and I would wager the farm that we are currently in the Eye-of-the-Economic-Storm. We will have a few up ticks but then drop once again to the real bottom foundation. I am thinking 18 months. - brjohnson789, on 04/14/2009, -2/+11As soon as you claimed Keynes knew what he was talking about I knew you had no understanding of what was going on.
- inactive, on 04/14/2009, -2/+10cause stupid people watch them
baaaaaaaa baaaaaa - ironhide, on 04/13/2009, -5/+13Considering it's not a duplicate of this article, you still fail yarcod.
- Moonkeeper, on 04/14/2009, -0/+8"They must ruin your life on a daily basis."
Actually noLib, it may surprise you that I hope your article is right. I hope the "doom and gloomers" are wrong. The well being of my son and my soon-to-be-born daughter are far more important to me then being able to say "I was right" on some internet forum. - wracker92, on 04/14/2009, -2/+10The stock market just blipped back upward in the last week. Let's wait and see what it's like a couple of months from now before starting to celebrate that the worst is behind us.
- charm803, on 04/14/2009, -2/+9I enjoyed buying cheap stocks.
- treeflappa, on 04/14/2009, -1/+8It's the derivatives, stupid
- chourobin, on 04/14/2009, -3/+10don't listen to CNBC and any of the crackheads they have on there.
- inactive, on 04/14/2009, -3/+10no one knows
flip a coin, it's just as likely to be correct as these "experts" - chesterogilvie, on 04/14/2009, -3/+9First of all, it's a little early to be calling everything sunshine and rainbows right now. This is one piece of positive news. Second - Obviously we're going to see some improvement in the short term since a few trillion dollars were just pumped into the economy. The problems are going to occur when the bill comes due for all of this massive spending. Don't be so shortsighted.
- COINTELPROAgent, on 04/14/2009, -5/+11What's this? More good economic news on the Digg front page? Unpossible!
- geekee, on 04/14/2009, -1/+7A more complete picture, and it's till all guesswork:
http://online.wsj.com/article/SB123921340472201877 ... - NoLibertarians, on 04/13/2009, -7/+13It's no duplicate Yarcod. I call duplicates when they actually are. In fact.. Most I call duplicates are 4 or more time submissions
- Hetman, on 04/13/2009, -10/+15We can argue that back and forth. There are many more economists who believe that the spending in the 30s helped just as much if not more than the war. But you are right you can find a small number of economics who believe otherwise. But most people are going to agree that it was teh spending that helped.
- vault, on 04/14/2009, -4/+9"Think about this on a personal level. If you have a bunch of debt and you can't afford to live, do you get another credit card to pay off that debt?"
The government isn't a person. If you have a bunch of debt and you get another credit card, your net worth will not increase as a result of that. When the government spends or cuts taxes, the GDP will grow as a result of it. The only problem is when the spending isn't stimulatory and just lines the pockets of special interests...which happens frequently, but doesn't negate the fact this is different than a personal credit card. - NoLibertarians, on 04/13/2009, -8/+13A link to another Digg site is not spam. You can't spam a site on it's own site.LOL. Relax Ray
- NoLibertarians, on 04/14/2009, -10/+15The key word to the thread is "optimism", one of the things needed to end a recession
- inactive, on 04/14/2009, -2/+7good, we can go pretend everything is alright. like a bunch of children we are.
- sloppychris, on 04/14/2009, -2/+7It worked then? When wasn't the worst of the depression in 1937?
- scyphozoa, on 04/14/2009, -4/+9i'm going to take out a loan to celebrate, TYRONE'S 450,000 CRACK PARTY!
- PrismoFillusion, on 04/14/2009, -5/+10Go ***** yourself you ignorant prick.
- Ouze, on 04/14/2009, -2/+7If you're saving for retirement, it's always a good time to be buying stocks. Buy when the market is good, buy when the market is bad. Stick with it and go slow. never put in more then you can afford. Make sure to diversify. Ignore the day to day market trends, stick with it, and the closer you get to retirement, the more you should start shifting your savings into less risky investments.
All these ***** fast money, mad money type pushing constant trade type shows are part of the problem. - silentboom, on 04/14/2009, -2/+61. "We will not have any more crashes in our time."
- John Maynard Keynes in 1927
2. "I cannot help but raise a dissenting voice to statements that we are living in a fool's paradise, and that prosperity in this country must necessarily diminish and recede in the near future."
- E. H. H. Simmons, President, New York Stock Exchange, January 12, 1928
"There will be no interruption of our permanent prosperity."
- Myron E. Forbes, President, Pierce Arrow Motor Car Co., January 12, 1928
3. "No Congress of the United States ever assembled, on surveying the state of the Union, has met with a more pleasing prospect than that which appears at the present time. In the domestic field there is tranquility and contentment...and the highest record of years of prosperity. In the foreign field there is peace, the goodwill which comes from mutual understanding."
- Calvin Coolidge December 4, 1928
4. "There may be a recession in stock prices, but not anything in the nature of a crash."
- Irving Fisher, leading U.S. economist , New York Times, Sept. 5, 1929
5. "Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months."
- Irving Fisher, Ph.D. in economics, Oct. 17, 1929
"This crash is not going to have much effect on business."
- Arthur Reynolds, Chairman of Continental Illinois Bank of Chicago, October 24, 1929
"There will be no repetition of the break of yesterday... I have no fear of another comparable decline."
- Arthur W. Loasby (President of the Equitable Trust Company), quoted in NYT, Friday, October 25, 1929
"We feel that fundamentally Wall Street is sound, and that for people who can afford to pay for them outright, good stocks are cheap at these prices."
- Goodbody and Company market-letter quoted in The New York Times, Friday, October 25, 1929
6. "This is the time to buy stocks. This is the time to recall the words of the late J. P. Morgan... that any man who is bearish on America will go broke. Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years."
- R. W. McNeel, market analyst, as quoted in the New York Herald Tribune, October 30, 1929
"Buying of sound, seasoned issues now will not be regretted"
- E. A. Pearce market letter quoted in the New York Herald Tribune, October 30, 1929
"Some pretty intelligent people are now buying stocks... Unless we are to have a panic -- which no one seriously believes, stocks have hit bottom."
- R. W. McNeal, financial analyst in October 1929
7. "The decline is in paper values, not in tangible goods and services...America is now in the eighth year of prosperity as commercially defined. The former great periods of prosperity in America averaged eleven years. On this basis we now have three more years to go before the tailspin."
- Stuart Chase (American economist and author), NY Herald Tribune, November 1, 1929
"Hysteria has now disappeared from Wall Street."
- The Times of London, November 2, 1929
"The Wall Street crash doesn't mean that there will be any general or serious business depression... For six years American business has been diverting a substantial part of its attention, its energies and its resources on the speculative game... Now that irrelevant, alien and hazardous adventure is over. Business has come home again, back to its job, providentially unscathed, sound in wind and limb, financially stronger than ever before."
- Business Week, November 2, 1929
"...despite its severity, we believe that the slump in stock prices will prove an intermediate movement and not the precursor of a business depression such as would entail prolonged further liquidation..."
- Harvard Economic Society (HES), November 2, 1929
8. "... a serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall."
- HES, November 10, 1929
"The end of the decline of the Stock Market will probably not be long, only a few more days at most."
- Irving Fisher, Professor of Economics at Yale University, November 14, 1929
"In most of the cities and towns of this country, this Wall Street panic will have no effect."
- Paul Block (President of the Block newspaper chain), editorial, November 15, 1929
"Financial storm definitely passed."
- Bernard Baruch, cablegram to Winston Churchill, November 15, 1929
9. "I see nothing in the present situation that is either menacing or warrants pessimism... I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress."
- Andrew W. Mellon, U.S. Secretary of the Treasury December 31, 1929
"I am convinced that through these measures we have reestablished confidence."
- Herbert Hoover, December 1929
"[1930 will be] a splendid employment year."
- U.S. Dept. of Labor, New Year's Forecast, December 1929
10. "For the immediate future, at least, the outlook (stocks) is bright."
- Irving Fisher, Ph.D. in Economics, in early 1930
11. "...there are indications that the severest phase of the recession is over..."
- Harvard Economic Society (HES) Jan 18, 1930
12. "There is nothing in the situation to be disturbed about."
- Secretary of the Treasury Andrew Mellon, Feb 1930
13. "The spring of 1930 marks the end of a period of grave concern...American business is steadily coming back to a normal level of prosperity."
- Julius Barnes, head of Hoover's National Business Survey Conference, Mar 16, 1930
"... the outlook continues favorable..."
- HES Mar 29, 1930
14 "... the outlook is favorable..."
- HES Apr 19, 1930
15. "While the crash only took place six months ago, I am convinced we have now passed through the worst -- and with continued unity of effort we shall rapidly recover. There has been no significant bank or industrial failure. That danger, too, is safely behind us."
- Herbert Hoover, President of the United States, May 1, 1930
"...by May or June the spring recovery forecast in our letters of last December and November should clearly be apparent..."
- HES May 17, 1930
"Gentleman, you have come sixty days too late. The depression is over."
- Herbert Hoover, responding to a delegation requesting a public works program to help speed the recovery, June 1930
16. "... irregular and conflicting movements of business should soon give way to a sustained recovery..."
- HES June 28, 1930
17. "... the present depression has about spent its force..."
- HES, Aug 30, 1930
18. "We are now near the end of the declining phase of the depression."
- HES Nov 15, 1930
19. "Stabilization at [present] levels is clearly possible."
- HES Oct 31, 1931
20. "All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S."
- President F.D. Roosevelt, 1933 - Ouze, on 04/14/2009, -1/+5Unless the "expert" is Jim Cramer, in which case, I'd go with the coin toss:
http://digg.com/business_finance/Jim_Cramer_s_Stoc ... -
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