Korean Job Discussion Forums

[Ya-ta Boy]

[mises]

[Ya-ta Boy]

Wet blanket.

[mises]

I guess.

Anyways, the stock market going up or down day to day or week to week speaks fully nothing about the overall health of the economy.

We will recover and things will settle down. But we have a great deal more pain first.

[Ya-ta Boy]

Bernanke: recession could end in '09

WASHINGTON � America's recession "probably" will end this year if the government succeeds in bolstering the banking system, Federal Reserve Chairman Ben Bernanke said Sunday in a rare television interview...

He said, though, that the United States has averted the risk of plunging into a depression.
"I think we've gotten past that," he said.

It's rare for a sitting Fed chief to grant an interview, whether for broadcast or print. Bernanke said he chose to do so because it's an "extraordinary time" for the country, and it gave him a chance to speak directly to the American public.

http://news.yahoo.com/s/ap/20090316/ap_on_bi_ge/bernanke60_minutes

I suppose you can become chairman without knowing anything about the job, but my gut argues against it.

[mises]

[Ya-ta Boy]

What's your favorite recipe for crow?

I recommend Allrecipe.com, but maybe you have another site you prefer.

[bucheon bum]

ya-ta, aren't you getting ahead of yourself here? If the Bush administration were still in office, you'd be as skeptical as can be. Why so much faith in Bernanke? Way too early to say there is light at the end of the tunnel.

[rollo]

Mises is right. There is more pain to come. the good news is that the housing market should begin hammiering out a bottom this summer. It is the Bush economy, remmeber it is the bush administration that chose not to invoke the laws against rampant short selling that had been on the books for 50 years which led to the destruction of Bear Sterns and Lehman. I think that the Obama 'fix" is just to get us to get us to the bottom with as little pain as possible. The Republican disaster, borrowing from China to fight two wars so that Americans would not feel the pain, will take a couple of years to work out.

[Ya-ta Boy]

[ontheway]

It's most certainly the Bush/Obama economy now, just like the Hoover/Roosevelt economy.

Obama continued the Bush policies, only he made them bigger and worse.

We should get a "W" shaped recovery, as many, including me, have been forewarning. This looks like the beginning of the market runnup for the middle part of the "W." If this is the runnup for the middle part of the "W" it has arrived a little ahead of schedule. I expected the market to turn between the end of March and October. Obama and his team are blowing a lot of "good news" and "the recovery has begun" smoke out there, so it's not clear.

From day to day, and week to week, there are gyrations related to a myriad of factors. This may not yet be the first bottom.

The stockmarket is a predictor. It now seems to be predicting that things will improve slightly in 6 to 9 months. That doesn't mean the depression will be over, but that in 6 to 9 months we will hit the first bottom of the "W" in terms of the actual economy. The market is moving up toward the peak in the middle at the same time the economy is moving down on the first side of the "W."

There will be another downturn, possibly even deeper, later on. The final leg of the "W" will be long and protracted, at best. Maybe we should call it a "U joined with an L."

No matter whether this is the first bottom, or whether we have to wait a few more months, I expect two bottoms and a long drawn out "L" in the second half.


There are plenty of other credit problems waiting to hit the fan. And the Social Security bubble will pop along with all the other entitlements before we have healed from this depression. Obama's doing his best to make that bursting bubble into an explosion as well.

It's going to be a long, sickening ride on this Ponzi socialist roller coaster.

[Kuros]