You old adage is now irrelevant, sort of like your way of thinking. Keep your mind inside your box and everything will be warm and fuzzy for you. Dare to look at what is really going on and you might have a little accident. ByLo has been posting 3-6-9 months prior to what you are finally realizing today.
Yes, I know quite well he's been copying and posting any negative article he can find for months, and I'm sure he'lll continue to do so for months and years to come (he appears to be in the contest to be the first ETer to have 10,000 posts to his name - and only in 3 years!). Bad news sells because it creates fear. Fear gets attention and is a great motivator. Politicians realize this. When they can incite fear in the people, they can get things done which they would never have the authority to do otherwise. Obama knows this quite well as he has fed the fear through his campaign and during his initial days in office, so that he can push through policies and expenditures that Americans would never otherwise accept. Bush used the same tactic after 9/11 towards different ends. Things are rarely as bad as they same, nor as good as they seem. That's another adage that you can ignore at your peril. So, go ahead and follow all the chicken-littles running around saying the sky is falling falling falling, and that all that's in front of us is the abyss. Don't bother thinking about why all that fear is being fed to us (by the media, by the politicians, by fear-mongers like ByLo), and what's being done underneath our noses as we blindly submit to those who promise to save us from such dire fates!
Just remember, none of this is Obama's fault! The buck does not stop at his desk anymore and he inhertited this mess and he wishes he did not have to deal with it!
Ha! I assume you're being fascetious. It was this mess that got him elected (and he damn well knows it). And he continued to push the negativity as far as he could into his presidential term, until the polls started to say that people were starting to lose confidence in him and his team. Then all of a sudden last week, after they got their $800+ stimulus package through (which largely included something for every liberal spending objective that's been sitting on the shelf for the past 8 years) and the $400+ billion budget plan (loaded with pork projects), they realized that maybe they pushed the fear far enough for now and started saying that things aren't so bad.
Bloomberg is the most objective and factual, by far, moron. They, 'The Financial Times' and 'The Economist' are among the few publications that actually print useful articles and hold useful interviews. I feel so badly for you that the global economy is so terribly sick and that Bloomberg has the resources and will to report facets surrounding the raw data, even though it's mostly and heavily bearish. Why not tune into Kudlow & Co. and just ignore Bloomberg?
I imagine there were people like you saying similar things when the indexes were down 50% in 1929. This crisis has been consistently UNDER REPORTED. Even now people like Roubini and those like him are talking about stuff the main stream financial media has yet to pick up on, including Bloomberg. Things really are much worse than they seem. Humans have a tendency to look for things to be better after a storm but the point ByLo is making with all these articles is that we are not out of the storm yet so don't get complacent in this bear market rally or mistake it for the start of a new bull.
In the 60-minutes video, they claimed "Sub Prime, + Alt-A, Option Arms, total $2.6T"... so far the economy has dealt with only about $1T of that... And that's not even including COMMERCIAL.. 3-5 more YEARS of defaults, foreclosures, RE prices declining....
I guess BuyLo called me a moron, well whatever... I didn't need any reporters to tell me how bad this thing was going to be going back three years even. Just knowing how much dollar value US real estate has and the percent of subprime and Alt A is all that was necessary. 100 million homes times blah blah blah... you can do it on a Post It note. I simply told people then that IT'S BIG and not to put any more faith in the markets, go to cash, get short, learn gardening even... we don't need these reporters to tell us how bad it is or what to do. Meanwhile volatility in various markets rose and stayed high, I'd say that's a trader's paradise and if By Lo can't cash in on that and would rather post stuff all day then like I said before.... well whatever...
And there will have to be more bailouts. The current admin is fond of the bailouts because they are getting so much pork out of the barrel and implementing socialism. Thus I can make a case that Martin Armstrong will be right in the second half of his prediction of a world wide credit crisis in this decade followed by hyperinflation.. assuming the bailouts and government spending lead to inflation, I really don't know if the one has to follow the other but it seems likely.