NYC Recession Turning Out Better Than Expected
“The gathering consensus is that the recession is nearly over in the city and, largely because of the enormous amount of federal aid poured into the big banks, the toll on New York will be much less severe than most had feared. Not only will the job losses in the city fall far short of…
“The gathering consensus is that the recession is nearly over in the city and, largely because of the enormous amount of federal aid poured into the big banks, the toll on New York will be much less severe than most had feared. Not only will the job losses in the city fall far short of the recession that wracked the metropolitan area in the early 1990s, economists and analysts say they will also not measure up to the losses in the shorter, shallower recession that surrounded the 9/11 attacks.”
— NY Times
The real estate investor part of me is hoping this report has some basis in reality and is true,
the rational part of my brain is edging towards team bear,
as long as the President insists on pursuing this ridiculous trillion dollar health bill and keeps racking up trillion plus budget deficits there will be no end to the underlying uncertainty.
Go listen to the Beige Book report, stevie. IT IS time to move on.
Posted by: daveinbedstuy at March 3, 2010 2:01 PM
That is what goldman sachs wishes the american people would do.
The garment industry was able to move to China because of improvements in transportation and communications. But manufacturing in China is not always better. Look at all the problems they are having with quality control. Many European fast fashion firms (Zara, H&M) are killing American slow fashion firms (Gap, AnnTaylor) with fast fashion manufactured in Eastern Europe and Turkey.
Go listen to the Beige Book report, stevie. IT IS time to move on.
Care to enlighten us on your view of gold, BHO????
Please, enlighten us as to where it is going and why. And, what if anything it has to do with the money supply.
This oughtta be good. I’m waiting for the cartoon.
I said the rest, outside of AIG, that would mean the money goiven to all the others but would not include AIG.
The AIG money id gone. Besides, that’s about a weeks worth of treasury auctions. Time for you to move on and get some new material.
Posted by: daveinbedstuy at March 3, 2010 12:32 PM
Its not just the TARP, Dibs. It is everything else. 186 billion was stolen from the american people and given to Goldman Sachs employees in the form of obscene bonuses. This is the true reason why NYC real estate was “bailed out”.
And no, it is not time to move on. That is what goldman sachs wishes, that the american people would forget quickly.
whuh and dave you guys are a bunch of babies claiming that the other doesn’t know anything about a finance, economics etc.
if someone doesn’t agree with your thesis, you scream and shout as if they are 100% wrong.
the possibilities are a bit more nuanced than that.
Posted by: joeingowanus at March 3, 2010 1:39 PM
joe, if you read my reply to Whuh you would understand that he has no economic theories. he’s never posted anything to a thread other than to attack me.
His whole existence here is as the Troller….
http://redwing.hutman.net/~mreed/warriorshtm/troller.htm
Simple youtube cartoon but DIBS won’t care to, nor be able to, successfully argue against the premise on which our money supply is based.
The lunatic fringe is underrated. We predicted the stock and RE market collapses, rent drops and called the recession far before these events happened. Just remember that.
***Bid half off peak comps***
“Nothing, and I mean nothing, in financial markets or economics is guaranteed.”
DEAD WRONG! Exponential functions, one of which dictates our total outstanding debt, are mathematically guaranteed to go to zero or infinity (infinity in the case of our debt). It is simply unsustainable for us to service our outstanding debt. It has to be defaulted, bankrupted, foreclosed, you name it. We, along with the rest of the world, are insolvent. We can kick the can down the road but it’s simply a matter of time.
THIS IS ABOUT AS LUNATIC FRINGE THINKING AS THERE IS!!!!!!