it's depression in wall street with all these job losses and banks failing. in 2002, 1987 and 1982, recessions banks and wall street was growing. so this depression is only in the finance industry.
And there are just a few Xis to be added in the near future.... Pension plan losses approaching $1 Trillion.... Municipalities....44 running deficits.... Big banks balance sheets have further to go....a lot further.... FDIC....not much left.... TARP....turned into vaporware....no where near enough.... Where is the money to buy cars and houses .... Where are the ¨real jobs¨.... The list just gets longer....fast....
Perhaps trade war between French and China, It is a pretty stupid to call out end of world, maybe it is signs of bottoming. We just have to wait and see.
Proper structural changes would shorten the trip down.... Otherwise....longer time down....and more expensive....
"Edwards has long been one of the most bearish analysts in London, first with Dresdner Kleinwort and then with SocGen. But he called in October for clients to increase their exposure to equities, which he said were due a rebound." So let me get this straight. This perinial bear watched everyone else make money year after year, while he was screaming the sky was falling. Once some debris actualy fell from the sky, he recommends to buy in October, IN OCTOBER, and now he has the nerve to revert back to his old ways and call a depression. I'm on board. What about you guys?
September 18 2008 Albert Edwards, global strategist at Societe Generale, said Washingtonâs serial bailouts are the inevitable result of the credit bubble of preceding years. âThis was all baked in the cake long ago. What we have seen so far is just a dress rehearsal for the deep recession that is coming. America is going to be losing 500,000 jobs a month. That is when we will see interest rates go to zero. The deficit will be covered with printed money as it was in Japan. The endgame will be helicopters full of cash dropped by Ben Bernanke,â he said. http://o****omikablog.wordpress.com...-pritchard-market-votes-no-confidence-in-fed/ So far so good.:eek: