There is no recession. Never was , never will be!

Discussion in 'Trading' started by HedgefundTrader2, Apr 30, 2008.

  1. Here is its after more than 400 posts and endless personal attacks and viciousness. You are still wrong abut this " imaginary recession". There was no recession whatsoever. It is now proven beyond reasonable doubt. You just read the other post which too long and windy scarred with personal attacks. I wish the moderators curbed that. I have challenged consistent your validity of a recession.

    Economy limps ahead at a 0.6 percent pace in first quarter, better pace than expected

    WASHINGTON (AP) -- The bruised economy limped through the first quarter of this year at only 0.6 percent as housing and credit problems forced people and businesses alike to hunker down.
    The country's economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. The statistic did not meet what economists consider the classic definition of a recession, which is a retraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if modestly.

    Lies from GREENSPAN, WARREN BUFFET where are thou? Now you know these people lie to you for a reason?
  2. Oh boy .... And you call yourself a Hedge Fund trader? Honestly, man does your Hedge Fund only hold long positions or something? I think you should stop embarrassing yourself and really take the basic economy lessons. Just an advice....
  3. I have mentioned this in the past. I'm in the steel business. Typically my industry is the first to go when we are in a recession. April will be the best month we have had since October of last year. Last year was the best year we have had in 14 years. The year prior to that was the best year in 13 years.

    I've been doing this for 35 years. Low steel demand has preceeded every recession or economic slowdown we have had during that period by at least 6 months. I see no signs of it whatsoever other than what the media is saying. I'm not saying it can't happen, but it would be the first time in my lifetime that a recession occurred before I felt it personally in my industry.
  4. bob83


    i've been holding positions in about 25 markets for the past month, long in about 20, and my account has gone up ~40% over that time-- was actually alot more before monday night.

    whether were in a recsession or not, market feels a little bullish of late.
  5. grendel


    Where was your the bulk of your demand coming from before each recession, and has that changed since?
  6. PaulRon


    quoted for truth.
  7. bgp


    you're right hedgie ! we are going straight to depression !:)

  8. The bulk of my steel goes into chemical plants, oil refineries, kitchen equipment manufacturers, and general steel fabricators. While everything I ship is relatively local, it does end up all over the world. Overall, this has not changed since I have been in business.

    In an indirect way, china and india do affect my business. When they are NOT buying for infrastructure there is more steel supply and thereby lower prices. Lower prices mean lower profits. It has no effect on overall tonnage shipped by my company though.
  9. grendel


    Thanks for the reply Holygrail.
  10. <i>"It has no effect on overall tonnage shipped by my company though."</i>

    There is a scrap metal processing station around the corner from me. All day long we have a steady procession of vehicles hauling every conceivable piece of steel and tin imaginable.

    Short steel prices were $360 ton last week, talk of hitting $500 later this summer. If that's the case, highway guardrails and railroad rails & plates will disappear from the quiet stretches.

    Absolute mania going on with scrap collectors right now... fights are common and getting worse. No end of high demand for ferrous or non-ferrous in sight.
    #10     Apr 30, 2008