Posted on 11/12/2007 9:18:11 AM PST by mustang buff
A Wall Street superstar this year who runs Balestra Capital Partners, Jim Melcher, says he's "worried about a recession. Not a normal one, but a very bad one. The worst since the 1930s. I expect we'll see clear signs of it in six months with a dramatic slowdown in the gross domestic product."
(Excerpt) Read more at nysun.com ...
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Hard-headed businessmen can be appointed by the POTUS.
The POTUS should be honest and have integrity. Mit Romney is a political chameleon. He’ll say whatever those who have the power to elect him want to hear.
Just ask the wog-cabin wepubwicans.
People need to know what it’s like to walk barefoot in the snow to and from school, uphill both ways.
An Economist who looks at economic and demographic trends has been predicting a bubble boom in the stock market from 2006 up until around late 2009 then a bust in 2010 based on a slowdown in consumer spending as the Boomers age.
No, but the timing is awfully suspicious. Our “allies” overseas pulled the plug on treasuries at precisely the right time to lock up the commercial paper market, and expose the folly of the CDOs, SIV, resulting in a huge downward spiral of the dollar. Methinks they want “liberals” in office, and this is a dandy way of effecting that.
The dollar declined less this year than the last 4 years so I don’t think that holds true. Since August, the dollar is only down around 5-6%. It’s down 45-50% from it’s peak 6-7 years ago. The Euro, etc is getting very bubbly IMO.
Yes, having our domestic products more competitively priced compared to imports right in time for the Christmas shopping season will doom America (sarcasm off).
BINGO! Long term investment, the silver lining.
Most foiks who talk about the 30’s want to “do something,” not having a clue that “doing something” (thanks, Hoover) is exactly what turned a needed correction into a depression.
Let’s welcome the corrections, and for God’s sake, let’s not “do something” ourselves into another depression.
LOL! Excellent!
You might want to at least think about reading the piece before you offer criticisms that make it clear that you haven’t.
Could not do it better myself.
Part of the reason that the 30s depression was so bad, in addition to the inelastic gold standard (ahem, Rep. Paul), was the fact that they tried to get the government involved and try to prop the economy back up to its overinflated levels. It didn’t work. Only after World War II started up did we get back to that.
We need corrections. Like it or not, we need recessions as much as we need booms. We need times of saving as much as we need times of spending.
He lost jobs, businesses and people while he was governor.
Just get here?
From Pawtucket. RI?
Welcome.
MAss,lost jobs, business adnpeople while he was the failure of a governor he was.
You should check your information first. This country economy has beeen financed for the past 5 years on borrowed money. Both the public and the government can’t or won’t live within there means. I think the national debt is 9 trillion dollars and the interest paid is in the billions. Th consumer’s savings rate is in the negative range. The public borrows money against their home’s equity which is inflated due to the housing bubble. Wages have been flat for years. We had more buying power in the year 2000 than we do today. The spending has to taper off and when interest rates rise there will be a lot of bankrupcies and layoffs. I can go on and on
Even if you accept everything you say as true, that still doesn’t add up to worst recession since the 1930s. Not even worst recession since 2000.
I thought that you were ranting at first, but you are right. Okay, this fellow thinks that there will be a major recession. Okay, fine, where are his solutions?
Did you notice that the article neatly points out where Melcher has put his money? How many are going to read that, redirect their investments into those things, thereby driving the price up for Melcher?
I don’t mind anyone makin’ money. But I agree with you and have a strong dislike for those selling plywood at $50 a sheet during a tropical depression that may turn into a hurricane. That is what this Melcher is doing.
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