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We're In A Depression, Not A Recession
crazygaijin
Posts: 272 Forumite
"Look, we can understand the need to be optimistic, but it is essential that we recognize the type of market and economic backdrop were are in. The markets are telling us something valuable when, after a period of unprecedented government bailouts, incursions and stimulus programs, we have a 2-year note auction that sees the yield dragged to new record lows of 0.46%."
And Rosenberg offered us some more gloom on housing:
"So let's get this straight. Mortgage rates have tumbled nearly 100 basis points in the past year to a record low of 4.42% for the 30-year rate, yet existing home sales collapse a record 27% MoM to an all time low (data only back to 1999 for total sales) of 3.83 million units at an annual rate? Are you kidding me?"
Is all this just a gloom and doom forecast or is it realism, as Rosenberg calls it? What do you think?
http://www.huffingtonpost.com/2010/08/25/david-rosenberg-were-in-a-depression_n_694638.html
And Rosenberg offered us some more gloom on housing:
"So let's get this straight. Mortgage rates have tumbled nearly 100 basis points in the past year to a record low of 4.42% for the 30-year rate, yet existing home sales collapse a record 27% MoM to an all time low (data only back to 1999 for total sales) of 3.83 million units at an annual rate? Are you kidding me?"
Is all this just a gloom and doom forecast or is it realism, as Rosenberg calls it? What do you think?
http://www.huffingtonpost.com/2010/08/25/david-rosenberg-were-in-a-depression_n_694638.html
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Comments
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Without the clever accountancy practices it would be a full blown depression.Not Again0
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If thats how he really talks, I like him!Yet, the tidbits of good news are the same kind of fluff that gave our 1930s predecessors a false sense of optimism amidst unsustainable growth, Rosenberg argues.
He'd be told he doesn't understand on here
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now, now Devon you've had a good day todayGraham_Devon wrote: »If thats how he really talks, I like him!
He'd be told he doesn't understand on here
first they would need to define a depression0 -
Wow, what a change to see a thread go down this route!!0
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