Market crash: are we there yet ?

[sailaway21]

You know I never really connected certain liberal chicken little whining with the 2008 election. Fortuantely for me, Bob Tyrrell did. Does this sound familiar? The American Spectator

[Rickm505]

Originally Posted by sailaway21

You know I never really connected certain liberal chicken little whining with the 2008 election. Fortuantely for me, Bob Tyrrell did. Does this sound familiar? The American Spectator

You've got to be kidding. You actually read this stuff?

".......in 1987 the economy continued to grow until the brief and shallow recession of 1991. Today I make no prediction........"

Of course he can't make a positive prediction as we have no growth....

This is tripe and it stinks all the way down here... but hey, you managed to waste yet another 10 minutes of my time...

[chris_gee]

Yes it does sound familiar because it is the second time you have posted it in two days. It was drivel then and still is.
The writer's point was a recession was substantially avoided in 1987. The reason being that money was pumped in. How many times has that happened?
Isn't M3 being expanded at a 17% pa rate now?
Prop up the market, the brokers, the banks, and now possibly home owners. Of course you can - it is your money.
But the consequences are what?
Guess if American Spectator doesn't list them they don't exist.

[wind_magic]

Originally Posted by chris_gee

Yes it does sound familiar because it is the second time you have posted it in two days. It was drivel then and still is.
The writer's point was a recession was substantially avoided in 1987. The reason being that money was pumped in. How many times has that happened?
Isn't M3 being expanded at a 17% pa rate now?
Prop up the market, the brokers, the banks, and now possibly home owners. Of course you can - it is your money.
But the consequences are what?
Guess if American Spectator doesn't list them they don't exist.

That's one reason people rush to gold now during a banking crisis. It didn't used to be that way - yes, gold has always been the currency of last resort and is the currency everyone wants during periods of high inflation, but it has never been the currency people want during a deflationary banking crisis. When banks start to go under people have traditionally sold gold to buy cash, just like they sell everything to buy cash. That has changed now - now when there is a banking crisis people buy gold. Why ? Simple math. Even if just one or two huge banks went under, start multiplying 100k$us FDIC insurance times let's say 1 million account holders and what kind of a number do you get ? FDIC insurance "saves" account holders by creating an obligation for the federal government to kick the printing presses into high gear.

[Rickm505]

Originally Posted by sailaway21

Now that post, Chris, I can agree with. Defending Ricks predictions of doom, which have yet to materialize by the way, .

Sailaway, I can't believe I missed this post. Now that I found it, and realize that you've been as accurate in it as you are now expected to be, I will correct your post.

When you look at my predictions last August and September an unescapable fact was that I stood alone in making them. There were no pundits to back me up and I had to assemble the data presented to justify them. Most came from my resources.

That was then. This is now. We are in recession. I've told you what caused it. Hell, the FED will tell you what caused it.

Fed members worried about deep recession - Stocks & economy - MSNBC.com

Reading the poorly written and even worst researched New republican articles isn't going to sway anyone.. but you.

You have made it a habit of posting some useless facts but mostly opinion since this thread began. As far as I can tell, nothing you've written has come to pass. You're batting Zero. The pundits you cite have now come to my side of the argument or they type meaningless tripe, by anyones measure. Why you continue to waste people's time whith this stuff is beyond me, but you're not wasting my time any longer.

I've back away from this thread because of the personal attacks. The usual conservative bag of tricks... when you your buds are spouting crap and get caught, attack the guy exposing you. These antics became childish and tiresum. I have better things to do with my time. Which brings me back to the reason for my post tonight.

My 'predictions' are now everyones' fact. Read the Notes of the Mrch 18th FED meeting. I posted the link in the paragraph above. They are typing the same words in that report that I've been typing here for 7 months. Apparently, I was ahead of the curve.

To call this "Rick's" doom and gloom is to be totally disconnected from the writings of the people managing our financial system. It is now their "doom and gloom" as well. It took them too long to get here, but they are here now and doing their damdest to fix this mess.

Lastly, will I benefit from Fed intervention? Of course I will. However, I will benefit no more nor less than any other homeowner or business owner.

Roubini now says this recession will last 18 months or longer. The Fed and Congress are taking him seriously. And why not, he predicted this stuff long before I did. The only question is how deep it will go. We've had a jobless recovery, is it possible to have a no job loss recession?

I think not.

[chucklesR]

There I was, wishing this thread could be factual and not personal attacks.

Thanks xxx for kicking it off again.

You have personally won the prize for being the first user I put on my ignore list.

[Rickm505]

Originally Posted by chucklesR

There I was, wishing this thread could be factual and not personal attacks.

Posts like this one have now become the norm. Attack a man who is responding to yet another attack. Well, what else can you do Chuckles, when your whole reason for arguing in this thread has gone up in smoke?

Ignore away

[artbyjody]

Originally Posted by chucklesR

You have personally won the prize for being the first user I put on my ignore list.

What do I get for being in second place?? Any virgins in the prize? inquiring minds wanna know

[chucklesR]

Jody, you aren't even on the list to make be considered for the list.

[chucklesR]

Let me see, track records et al.

Were we in recession in August - no
were we in recession in September - no
were we in recession in October - no
were we in recession in November - no
were we in recession in December - no
were we in recession in January - no
were we in recession in February - Reports of maybe, decline .07%, preliminary figures only so far.

Track record for certain chicken little Florida mortgage manipulators:
1 maybe for 6 WRONG
Has the market (by most definitions) crashed - NO
Again, on a month by month scale that's 7 WRONG, no right

has it corrected, yes, crashed, no. many folks have shown the links that show a correction, not a crash.

I have been wrong exactly ZERO TIMES.

I'll let the facts speak.

Is the economy is trouble, yes. Has the sky fallen, no but it's leaking big drops of pus.
This guy I listen to, folks here I don't even bother with anymore.

Recession is here, economist declares - The Boston Globe