I guess we are not in a recession
[quote=gilliam]I guess we are not in a recession
If the media keeps insisting we are then we are. Don’t let the fats get in the way.
The recent Hindenburg omen suggests we will soon have a very steep market slump. Today’s 355 point loss on the DJIA supports the recession idea.
At least “core” inflation is under control.
I guess we are now officially in a “bear market”. (20% drop from the 10/07 high). Not sure what the bears are supposed to do now, but the markets truly are bizarre. Real estate in my area, at least, is a little slower and prices have moderated But there’s nothing drastic going on. There is still a labor shortage. But never before have I seen the following:
-Extremely high degree of investment in commodity futures, seemingly with everybody and his brother going “long”.
-More money “sitting on the sidelines” in money funds than ever before in history.
-Stocks of companies whose sole purpose is to short other stocks. (e.g., SFK. I think that’s its symbol) Maybe that always existed, but I never saw it before.
-Absolutely enormous short selling, with “shorts” “hitting the bids” repeatedly, driving some stocks so low their PEs are jaw-droppingly, and their dividends stratospheric.
-Market makers who don’t actually support their stocks anymore, presenting the “shorts” with a turkey shoot.
-Inability of many market makers to “retail” many stocks, and lending stock to short sellers, creating a “death spiral”.
-Subprime loans still being made.
-Consumer debt still growing, after already being beyond belief, all after more than a trillion dollars in individual wealth has been wiped out.
-Even the “gold bugs” don’t seem to know whether to buy or sell.
I don’t know if we’re really in a recession or not. No two are exactly alike, I suppose. But I have never seen a weirder investment market than the one we have now.
I thought we have been in another “Great Depression” since January 2001. At least that is how the left portrays it. :rolleyes:
:rotfl: :rotfl: :rotfl: :rotfl:
Although I’ll admit I’m depressed about the 2008 election. With all of the talented people in the U.S., we ended up with THOSE guys? But the abortion guy will be even more depressing than the illegal immigration guy.
Speaking of immigration
You should realize that abortion too also affects the labor market.
I think stopping abortion is in the interest of the plutocrats in the same way that supporting illegal immigation is.