What figures you have that shows that recession is upon us? Here are few things that should know: 1. The durable goods report came out nice 2. GDP came in at 0.60 not bad and can't be used for recession defination. 3. ADP employment report came in with a pleasant surprise 4. Fed have cut rates twice to 1.25 basis point in one week! Do you have any " facts" to back up your doom and gloom?
There are no half full or half empty glasses in the stockmarket, only half glasses. Save the ra ra cheerleading for your next Amway meeting.
classic quote, inetllectual ping pong and doses of reality, sounds like lyrics from a Pink Floyd song. too funny. Like somebody previously borught up.. " But Mortimer, your borther is having a heart attack:," "Mortimer: "fuck him turn on these machines, turn the machineeeeesssss, its not over" Randolph and Mortimer Duke.
Time to pull out the "nuttering nabobs of negativity" line. Anecdotally, on a rare day off today, I never saw so many couples walking around town together. These aren't kids - these are middle aged people who are 'just out for a stroll.' At 11 a.m. I can't remember the last time I saw males in my high-end neighborhood. Obviously, they aren't at work, either because 1) its slow or 2) they are now unemployed. Business for me and my customers in December - January was off 20-30%. With our 'just in time' culture and razor thin profit margins (unless you are globalised, which my industry is not), do you think most businesses can withstand a 30% hit to profit long-term? I am certainly concerned, and I bet the folks who live next to me and just threw their expensive mcmansion on the market are more than concerned. You can believe what you want to. But you can also believe your own eyes and what you see in front of you, if you care to. I continue reallocating to treasuries for longer term holdings.
rates drop 125 basis points and the market tanks... PPT trying to prop up the S&P and dump on gold tonite... yea, I'm happy about all of this......