The economy is booming

Let's wait for that special period just right after Christmas when the bad news about layoffs will start to come to air. if a lot of companies start to unload employees, prepare for the next leg down.


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Quote from saxon22:

Let's wait for that special period just right after Christmas when the bad news about layoffs will start to come to air. if a lot of companies start to unload employees, prepare for the next leg down.


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it's all priced it. The market is forecasting unemployment to rise as high as 8%.
 
You might be right? It seems that the market has decided 7500 is the floor. After tomorrows number, It should be around that level. In my neck of the woods NBay CA. it sucks for work right now. I'm in the construction sector in one of the highest price neighborhoods in the country. Even the well off folks are having a difficult time.
 
Well, for those above who were thinking bottom, things looking up, etc. , I hope 533,000 lost jobs tells you things are not under control, and seeing people in the mall or trucks on the road is irrelevant.

There is still a good chance we will see:

2_great_depression.jpg


1928-great-depression.jpg
 
Quote from TraderZones:

Well, for those above who were thinking bottom, things looking up, etc. , I hope 533,000 lost jobs tells you things are not under control, and seeing people in the mall or trucks on the road is irrelevant.

There is still a good chance we will see:



The economic fallout from Bernanke and Paulson telling us there will be a meltdown without the TARP is being felt now. I don't doubt that we have had some tough economic times recently. But, you are looking at the past. All the bad data coming out now and into the next 3 months is from the past. I am looking forward and I see many major improvements. Just looking at gasoline prices, retail prices, mortgage rates..etc, has made the lower cost of living offset some of the household losses.

On your pictures of the great depression; to think things are even close to comparable to that is just ignorance.
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Quote from RiceRocket:

Quote from TraderZones:

Well, for those above who were thinking bottom, things looking up, etc. , I hope 533,000 lost jobs tells you things are not under control, and seeing people in the mall or trucks on the road is irrelevant.

There is still a good chance we will see:



The economic fallout from Bernanke and Paulson telling us there will be a meltdown without the TARP is being felt now. I don't doubt that we have had some tough economic times recently. But, you are looking at the past. All the bad data coming out now and into the next 3 months is from the past. I am looking forward and I see many major improvements. Just looking at gasoline prices, retail prices, mortgage rates..etc, has made the lower cost of living offset some of the household losses.

On your pictures of the great depression; to think things are even close to comparable to that is just ignorance.
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Here's some things for you to consider. Low interest rates, cheap gas and retail don't help the unemployed that much, if at all. The mortgage rate can be 4.5%, but if one needs a 750+ credit score to re-fi, most people aren't in that category. If they need 20% down to buy, where are they going to get that. They're broke! Now they're unemployed with dim prospects to find a job that pays the equivalent of the one they lost. Wall Streets recession will be Main Streets depression.
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Quote from RiceRocket:

to think things are even close to comparable to that is just ignorance.
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So it is then ignorant thinking things CANNOT go this way. Remember the Asian currency crisis a few years ago, with stock markets like Indonesia down 80% and currency down 90%? Remember Zimbabwe?

Collapse of markets, banks, housing prices and commodity prices is exactly what happened 1929 on...

Nobody knows how far this will go. The job losses are getting worse, not better.

Consider if other countries stop buying American debt, which is bleeding profusely.
 
I love the pessimism, almost everyone is drowning themselves in negativity. Wake up, look around, and take advantage of the amazing opportunities right in front of you. I have personally been making bundles of cash in the last month. To me, that signifies things are getting much better.
 
Quote from TraderZones:


Consider if other countries stop buying American debt, which is bleeding profusely.
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Have you looked at the 30y quotes recently?
 
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