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Get off this National pastime of pessimism!
- Thread starter HedgefundTrader2
- Start date
Quote from bdon:
I'm not hiding anything. Recession is upon us amd you talk just to talk.
I make money in up and down markets, because I don't fight em. I grew up in Detroit and knowing how bad things have been there for the past two years with jobs and falling real estate I have been waiting for this. But what I didn't do was the fight the market for the first year while it kept moving higher. I played the game and waited for the turn.
Enjoy that Kool-Aid it must taste really good.
What figures you have that shows that recession is upon us?
Here are few things that should know:
1. The durable goods report came out nice
2. GDP came in at 0.60 not bad and can't be used for recession defination.
3. ADP employment report came in with a pleasant surprise
4. Fed have cut rates twice to 1.25 basis point in one week!
Do you have any " facts" to back up your doom and gloom?
Quote from Joab:
Good post !
has run up a deficit that the country may never recover from.
People are going to have to pay the price for this idiot now.
My question has to be, why would you assume this?
Since 1980, the US has ran a trade deficit that has pretty much increased every single year. Yet GDP has increased on average at a rate of 3%, the envy of most countries in the world over such a long time. And annualised market returns have been around 13% per annum. So what's different now? Are you honestly saying the nation isn't wealthier now than in 1980?
Sorry, but the facts don't bear out a high deficit being bad for the economy, despite what the majority think.
http://www.freetrade.org/node/108
It seems to me that the numbers are the numbers. If I'm missing something and you have the data to back up the opinion that a huge and growing trade deficit will be bad for the US, please provide a link or something. I'm always keen to learn more.
Quote from day7793:
Without an intellectual argument to defeat my post you look RIDICULOUS. I am not going to call you names, just pummel you with intellectual ping pongs and doses of reality.
classic quote, inetllectual ping pong and doses of reality, sounds like lyrics from a Pink Floyd song. too funny.
Like somebody previously borught up..
" But Mortimer, your borther is having a heart attack:,"
"Mortimer: "fuck him turn on these machines, turn the machineeeeesssss, its not over"
Randolph and Mortimer Duke.
Time to pull out the "nuttering nabobs of negativity" line.
Anecdotally, on a rare day off today, I never saw so many couples walking around town together. These aren't kids - these are middle aged people who are 'just out for a stroll.' At 11 a.m.
I can't remember the last time I saw males in my high-end neighborhood. Obviously, they aren't at work, either because 1) its slow or 2) they are now unemployed.
Business for me and my customers in December - January was off 20-30%.
With our 'just in time' culture and razor thin profit margins (unless you are globalised, which my industry is not), do you think most businesses can withstand a 30% hit to profit long-term? I am certainly concerned, and I bet the folks who live next to me and just threw their expensive mcmansion on the market are more than concerned.
You can believe what you want to. But you can also believe your own eyes and what you see in front of you, if you care to. I continue reallocating to treasuries for longer term holdings.
Anecdotally, on a rare day off today, I never saw so many couples walking around town together. These aren't kids - these are middle aged people who are 'just out for a stroll.' At 11 a.m.
I can't remember the last time I saw males in my high-end neighborhood. Obviously, they aren't at work, either because 1) its slow or 2) they are now unemployed.
Business for me and my customers in December - January was off 20-30%.
With our 'just in time' culture and razor thin profit margins (unless you are globalised, which my industry is not), do you think most businesses can withstand a 30% hit to profit long-term? I am certainly concerned, and I bet the folks who live next to me and just threw their expensive mcmansion on the market are more than concerned.
You can believe what you want to. But you can also believe your own eyes and what you see in front of you, if you care to. I continue reallocating to treasuries for longer term holdings.
Quote from day7793:
Tremendous amount of negativity. January has been a hopeless month as far as the financial markets are concerned. The Feds have cut rates 2 times 3/4 points and today another walloping 1/2 point! Congress has passed a 145 billion dollar economy stimulus package.
We got news today that economy is not as bad as thought. GDP growth still lower down to 0.60 but nothing negative to count towards a recession till 3rd quarter of 2008. Things are not as bad as the figures point out.
But we must get out of this national pastime of pessimism and continuous hopelessness. No one has prospered by panicking and becoming hopeless. Your government has done a darn good job for all of us. Fed have come through and are on your side as much as they can be. They are not done cutting rates and happy days should be here starting today.
Holy shit, you just don't stop.
You're an idiot. We went over this in the last thread.
Quote from Joab:
Good post !
Althought I would love to agree with you the FACT remains that Bush (51% of you voted for the moron) has run up a deficit that the country may never recover from.
People are going to have to pay the price for this idiot now.
You just don't spend 100's of billions of dollars on a War and think everything is going to be rosy.
The sooner you get this fool out of office the better your country will be.
Couldn't have said it better myself.