Who cares about the dictionary definition of reccession? The market is forward looking not a daily snapshot of the health of the overall economy, and right now even you agree the market is not painting a real nice picture. If you actually are still long from last summer I have a small bit of advice for you: Prayers dont get always answered, but stops do. cheers!
Low self esteem, lack of confidence, negative thinking, jumping to conclusions, being an unpaid fortune teller these are the types you see on this forum. They are full of negativity and heaping pessimism, there is not an iota of self confidence in here. None, Nada, zilch. With your help look where are financial markets are today. A real recession couldnot have wiped out trillions of dollars of American wealth in a matter of 3 months ... Amazing....
You can't change the goal posts and say I win the argument. You need to go by the accepted definitions of recession and not some folklore ribald stories and graveyard tales of Nouriel Roubinis and other bullshit artist decorating pessimist landscape of America.
Blame the people of this land and who live here. How deep is the negative sentiment. Our confidence level has sunk to lowest depths in 5 years according to Michigan sentiment index published recently. We are at new lows in our thinking, shivering like a rabbit who heard the Lion roar, yet the Lion is miles away..
You have already lost the world! Now sitting like an unhinged cripple, staring at the circling skies, dumb eathbound misfits..
You do realize that ever since you signed up with ultra bullishness, the markets have just gone down and down. Overall down trend. Its funny cause you registered at ET the day we were at highs in July right before we sold off hard. Now, months later, the markets are even LOWER than they were then in Augist. You focus on getting the proper definition of recession but have ignored the fact that the markets have been trading lower since you've been here. Are you saying the market is wrong and being bullish is the only way to think? Do you think the market cares what your take is? Is your goal to make money or be right on the strength of the economy?
LOL agree completely. Where are the negative quarters? Hmmmmm? Not one single negative quarter of GDP since 2002. The market was actually green in the morning. The only recession is an imaginary one. Also, the S&P 500 is still well above 1252. This imaginary bear market is also really painful, too. Also thanks to this fake credit crunch and liquidity crisis I have no credit, nor do I have any liquidity (whatever that means).
Between you and hedgefundtrader I think we've identified "Dumb" and "Dumber", I just don't know who's who. Who cares if we're "officially" in a recession per some academic definition. Bottom line is many people have refinanced their houses, some more than once, to pull out $$$ to spend. This was $$$ they otherwise didn't have. Now they have mortgages where they owe MORE than what the house is worth. Oh yeah, we have a negative savings rate too. And many of the above drive gas guzzling SUV's, that some have high monthly payments on. And they really can't afford the gas they need to put in them to get their 10 mpg. Next, we have credit cards that continue to be problematic for many Americans. Some are now resorting to raiding 401K plans to stay afloat financially. The housing market has a glut of houses, a years worth in many markets. Subprimes, ARM's and the implosion of many wall street financial companies isn't helping. Wake up -- the US consumer makes up 2/3 of our economy. They don't have any disposable income any more. They can't even afford to shop at Penny's, Sears, Target, etc. Look at the retail sales. Oh yeah, they're now going to Wal-Mart to buy all the imported Chinese produced "junk" as that's all they can afford. Wells Fargo, and others, are saying the housing market is the worst since the Great Depression. Consumer confidence is the lowest in 15 years. Need more data? No recession -- yeah, right. Doesn't matter if it meets your "academic" definition. Bottom line is the economy is in BIG trouble and the stock market will struggle big time. You two are soooooo much in denial. Two sides to a market and anyone who has a clue plays the short side as well as the long side.
wow looks like some sore losers on here hoping for the market to give them some glimmer of hope and actually go against reality lol at least the market will bottom someday in the future for ya so keep on hoping