Posted on 10/03/2011 6:25:50 AM PDT by TigerLikesRooster
Goldman's Jim O'Neill: 'What Is The Matter With Everyone?'
Sam Ro
That's the question Jim O'Neill poses in his weekly letter, which is sarcastically titled Let's Worry About Everything.
O'Neill, who is the reason why we say BRICs, argues that last week's economic and corporate news was "benign" and that the market selloff seemed uncalled for:
Judging by the price action, market participants seem to be increasingly convinced of imminent recessions in Europe and the US as well as a prolonged period of “Japanisation,” in which positive GDP growth struggles to keep ahead of a weaker underlying growth trend.
If this prospect weren’t grim enough, the notion of a “hard landing” in China is back on people’s minds with a number of participants promoting the idea, and many newspapers honing in on challenges in the property markets and financial sector.
(Excerpt) Read more at businessinsider.com ...
P!
Let’s see ... it’s called a post credit bubble contraction or LIQUIDITY TRAP.
Banks contracting credit, Fed floods the economy and lowers rates to no avail.
http://confoundedinterest.wordpress.com
I love these Masters of the Universe on Wall Street. Walking around thinking their geniuses because they’ve built the biggest house of cards in the world.
They act like they’re geniuses, right up until their empires collapse into a pile of dust because they forgot to take into account that what goes up can also go down.
Then they’re “unavailable for comment.”
bfl.
“What is the matter with everyone?”
What a stupid thing to say. As if the economy is failing because of our feelings or because we don’t like Obama.
It’s all about the numbers and where everyone thinks the economy is headed. That is all it is.
Yeah. Because we see how stellar these places have been in divining the future before.
Mean while, the EU, keeps sliding into that black hole of debt. They cannot print money fast enough to stop it. LOL
Only the chief propagandist for Vampire Squid can say such a thing with straight face. He is compensated handsomely for that. The latter day Abby Joseph Cohen.
‘What Is The Matter With Everyone?’
Speaking for myself, I have a serious case of malaise and a foreboding feeling of ennui...
Been here. Done this. Didn’t like it last time!
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