Recovery Sooner Than Later?
The market is supposed to be a forward-looking discounting machine. It’s supposed to price in what’s expected to happen over the next few months and years. Is the market perfect at this? No. If it were, there would be no real opportunity to do well in it. The market is, however, very good at incorporating…
Please, we are trying to stay off topic here.
OMG, do you people ever do any work or do you just yack on this blog all day!! I couldn’t possibly read all the back and forth since I last checked the blog, but I did catch this tidbit from 11217::
“My company in the last two weeks has just hired an additional employee, gave out hefty xmas bonuses equal to one week’s salary for every year you’ve worked at the company, and we’re having a huge holiday party next week at one of the nicest restaurants in the city.”
Congrats. My Fortune 500 company, which employs aprox 15,000 in NYC alone and owns 3 highrise buildings in midtown, has canceled all bonuses and all parties. We’re having a potluck holiday party in our 34th floor conference room–yes, potluck. There have already been layoffs and, as I said 80 comments ago, more are to come. My point is that of course some businesses are atill doing quite well, but many many others aren’t. And when huge companies like mine start cutting back the ripples eventually hit almost evey company.
Yeah, that one was pure unadulterated fun, cornerbodega.
Dave – we seem to be turned off by the same types also – Foxy, our man Shelly Silver.
Weird.
“Don’t be jealous I’m young, handsome and own my own home cobblehiller.
Posted by: 11217 at December 10, 2008 1:07 PM”
Haahahahah lOl
She is hot, I’ll give her that.
MM – the main difference (between blog posters and the so called “experts”) is pay.
Look I am not saying that everyone is an idiot….I’m saying that virtually no one knows what is going to happen, and the fact that you can cite an economist or two being right about our current situation while interesting proves little. Roubini’s 2006 prediction while currently looking totally prophetic is no more remarkable then Arjun Murti (Goldman Oil Analyst/NY Times called him an “oracle”) predicting $200 a barrel oil in June – in July he looked like the smartest guy in the world and (unfortunately for him) now he looks like a moron (in fact Goldman has stopped even issuing price targets on Oil.). Or Abbie Joseph Cohen predicting in Dec ’07 that S&P would hit 1700 in 2008. Or Bill Gates allegedly predicting no one would ever need more than 640k of memory. Or even Thomas Malthus predicting the end of civilization.
As the saying goes….even a broken clock is right 2x a day.
A down economic cycle tends to work exactly the way the up cycle did….people are virtually universally convinced of its solid foundation, can conceive of little that will change it and plan as though today’s environment will be permanently in place (with some very bad consequences) and then….boom….everything changes…and some guy who had been predicting these new events for decades is cast as a genius…until he cant get it right again.
In summary…people will lose tons of $, jobs, home equity and security, and then…this too will pass and life will go on. And there is no one on this entire planet (blogger or “expert”) who can RELIABLY predict the timeframe of this sequence of events.
Hater???
If she just attacked those above her, those who can look after themseleves, then fine. But she has a seedy habit of being a complete bastar% to shop workers and service workers. Not a character to be admired, unless bullies are your thing.
aw, shucks. now i know you’re not foxy brown. but i bet you look just as hawt in false eyelashes and a weave.