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7 reasons U.S. needs a Good Depression now
- Thread starter turkeyneck
- Start date
Quote from Locutus:
a) You seem to claim that you know what a depression is and what causes it. However even among the most high-ranked scholars and other people who study these thigns for a living there is a high amount of disagreement on this very subject. For that reason, I don't find your story credible.
b) A depression every two years (hundreds in the past 300 years? Riiiight) is a bit excessive
c) As I said, this thread is not a stock market prediction. Predictions are useless and so is yours re who is getting slaughtered.
I will repeat: YOU (average person) HAVE MORE THAN OR JUST AS MUCH STUFF AS WHEN EVERYTHING WAS CONSIDERED AWESOME (2000). So I don't understand why everybody is so gloomy. There's a mass psychosis that the economy is a leaky boat POS that is going to break any time now.
You're a phony. Economists from all ends of the spectrum agree on the main drivers of the business cycle, and why economic busts follow booms. It involves leverage, capital destruction and discretionary income, as I explained. Evidently, you haven't read the work of any "high-ranked scholars" or "people who study these things for a living" because if you did, you wouldn't have said that. Go read what Bernacke or Greenspan said about the collapse and why it happened. Then report back here and enlighten us.
As for the rest, hundreds on Depressions around the world. Economies are a human phenomenon.....
"Mass psychosis"... lol The only one with mass psychosis is you. You have no clue about economics yet you continually parade your ignorant ass around here as some kind of authority on the subject because your S&P longs rallied 4% on the week. Where were you a month ago? Or 5 months ago? Or last year? It's the same story with you perma-bulls. Every time the market makes a run you pound your chest and take a victory lap while spouting your half-baked theories why everything is coming up sunshine. Buddy, trust me. We've seen it all before. There was a retail bull named stocktrader who used to post the exact same crap for years, right into the '08 meltdown. A fool and his money. That's you.
Quote from achilles28:
You're a phony. Economists from all ends of the spectrum agree on the main drivers of the business cycle, and why economic busts follow booms. It involves leverage, capital destruction and discretionary income, as I explained. Evidently, you haven't read the work of any "high-ranked scholars" or "people who study these things for a living" because if you did, you wouldn't have said that. Go read what Bernacke or Greenspan said about the collapse and why it happened. Then report back here and enlighten us.
As for the rest, hundreds on Depressions around the world. Economies are a human phenomenon.....
"Mass psychosis"... lol The only one with mass psychosis is you. You have no clue about economics yet you continually parade your ignorant ass around here as some kind of authority on the subject because your S&P longs rallied 4% on the week. Where were you a month ago? Or 5 months ago? Or last year? It's the same story with you perma-bulls. Every time the market makes a run you pound your chest and take a victory lap while spouting your half-baked theories why everything is coming up sunshine. Buddy, trust me. We've seen it all before. There was a retail bull named stocktrader who used to post the exact same crap for years, right into the '08 meltdown. A fool and his money. That's you.
You clearly weren't raised properly and I know nothing. Frankly, I think we have nothing in common.
Quote from Larson:
Actually, it is fear-driven.
Yes, Michael Moore figured that out a long time ago, even made a movie about it.
But the other poster is right - life is pretty damn amazing for us Westerners - the problems we face are all about political structures, not about food water and shelter.
There is abundant reason to find joy living in the here and now.
Quote from EMRGLOBAL:
"The problem is at the consumer level, confidence is low and that is because, as you showed, showed we had underemployment with one out of every six Americans. The worst element of that is that among the unemployed, against the American history, more than approaching half, have [been] unemployed for over six months. That is historically unprecedented in the United States. That is a phenomenon that is seen often in Europe, rarely seen here. In 2007 the average time to get a new job was five weeks. It's now near six months. And that implies a whole segment of the population, the more elderly or the middle-aged who may never get employed again," Charles Krauthammer said on FOX News this evening.
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WE ARE ALREADY IN A DEPRESSION. There was no recovery, QE2 did nothing and the STOCK MARKET is all but HOT AIR.
the coming depression is already bigger than 1930. If we wished it to be smaller than 1930, we should not have reinflated the internet bubble in 2007 to create a housing bubble. It may not feel like a depression because of ipads and the like, but unemployment will go higher than in 1930.
Quote from Random.Capital:
Yes, Michael Moore figured that out a long time ago, even made a movie about it.
But the other poster is right - life is pretty damn amazing for us Westerners - the problems we face are all about political structures, not about food water and shelter.
There is abundant reason to find joy living in the here and now.
See that's my point exactly. Who cares whether we are in a recession, depression or whatever. I'm not going to read what Benanke or Greenspan has to say about it as long as Bernanke keeps soothing my nerves with everything he's saying at this time. It's going to be pretty awesome regardless. We're all gonna have cars, we're all gonna have houses and we're all gonna have entertainment. Except for the unemployed, but who cares.
I'm not a perma-bull on stocks by the way. If oil keeps its upward momentum going I might have to exit and start looking for short entries. For now though: wheeeeeeee!
Quote from Random.Capital:
Yes, Michael Moore figured that out a long time ago, even made a movie about it.
But the other poster is right - life is pretty damn amazing for us Westerners - the problems we face are all about political structures, not about food water and shelter.
There is abundant reason to find joy living in the here and now.
If not for QE, the breakdown would Already be here. The Fed is just buying time and are probably scared shitless in private. But, as you say, it is all blue sky and peddle to the metal.