Great Depression 2?

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Nov 17, 2008 7:32 pm

This article is about as bearish as it gets:

http://www.marketwatch.com/news/story/Well-Great-Depession-2-2011/story.aspx?guid=%7BB28B49B5%2DEFD1%2D4941%2DB57E%2DA2BA1545BA09%7D&dist=hplatest
 
Any thoughts?
Nov 17, 2008 8:00 pm

http://www.foxnews.com/story/0,2933,241460,00.html


 
 
#3, 5, and 7 caught my attention.  He is trying to sell advertising, is very anti-advisor, and contradicts himself constantly.  Next year is going to be great!  Next year is going to be horrible!  At the end of 2009, I will post that I predicted the results of the year and therefore you should listen to me going forward.  Brilliant!
Nov 17, 2008 8:05 pm

Entertaining rant. ... He goes so far over the top he loses credibility, but I think you could reasonably make a case for a long recession followed by raging inflation and then the $60 trillion tab for the Boomer medical bills. If you throw in a terrorist nuclear attack, global warming and another Ohio State trip to the national championship game, things could really get dicey. ... This is certainly the most interesting historical period of my 40-year-plus lifetime.





Nov 17, 2008 10:46 pm

Did anyone ever bother to check what this guy (Paul B Farrell) is selling? 

http://www.paulbfarrell.com/ (Millionaire Meditation offers guidelines that help you restore your
energy levels in all areas of your life.)

Step 1: Write book explaining how advisors can reduce their stress
Step 2: Predict End of the World
Step 3: ????!!!
Step 4: Profit. 


Nov 17, 2008 11:49 pm
Primo:

http://www.foxnews.com/story/0,2933,241460,00.html


 
 
#3, 5, and 7 caught my attention.  He is trying to sell advertising, is very anti-advisor, and contradicts himself constantly.  Next year is going to be great!  Next year is going to be horrible!  At the end of 2009, I will post that I predicted the results of the year and therefore you should listen to me going forward.  Brilliant!
 
What a loser.
Nov 18, 2008 12:22 am
snaggletooth:
Primo:

http://www.foxnews.com/story/0,2933,241460,00.html


 
 
#3, 5, and 7 caught my attention.  He is trying to sell advertising, is very anti-advisor, and contradicts himself constantly.  Next year is going to be great!  Next year is going to be horrible!  At the end of 2009, I will post that I predicted the results of the year and therefore you should listen to me going forward.  Brilliant!
 
What a loser.



Who is the loser?

Snags you've been posting all this doom and gloom crap for weeks now, and so far the S&P has re-tested 840 3 times. but not broken through.  Oh...I know that's just a bunch of technical mumbo jumbo, right?

Oh...and by the way, you should check the accuracy of your sources of information.  In the article you linked, the author referred to a 30 month recession that Mr. Farrell so brilliantly "predicted".  As a point of fact, the National Bureau of Economic research reports that the business contraction was 8 months long.  Slight discrepancy there on Mr. Farrel's part:

http://www.nber.org/cycles.html

Don't believe everything you read, especially on the interweb.

Nov 18, 2008 12:56 am
HymanRoth:
snaggletooth:
Primo:

http://www.foxnews.com/story/0,2933,241460,00.html


 
 
#3, 5, and 7 caught my attention.  He is trying to sell advertising, is very anti-advisor, and contradicts himself constantly.  Next year is going to be great!  Next year is going to be horrible!  At the end of 2009, I will post that I predicted the results of the year and therefore you should listen to me going forward.  Brilliant!
 
What a loser.



Who is the loser?

Snags you've been posting all this doom and gloom crap for weeks now, and so far the S&P has re-tested 840 3 times. but not broken through.  Oh...I know that's just a bunch of technical mumbo jumbo, right?

Oh...and by the way, you should check the accuracy of your sources of information.  In the article you linked, the author referred to a 30 month recession that Mr. Farrell so brilliantly "predicted".  As a point of fact, the National Bureau of Economic research reports that the business contraction was 8 months long.  Slight discrepancy there on Mr. Farrel's part:

http://www.nber.org/cycles.html

Don't believe everything you read, especially on the interweb.

 
Hang on there Hyman.  I was saying the author of that article, Farrell, is the loser.  I've been posting some of that doom and gloom crap because that's what it is, crap, and I like to stir things up.  I think the media is fueling this fire.
 
I agree with Primo.  I like Primo, and have had some very enlightening PMs with him, which I appreciate.
 
 
Nov 18, 2008 1:10 am
snaggletooth:
HymanRoth:
snaggletooth:
Primo:

http://www.foxnews.com/story/0,2933,241460,00.html


 
 
#3, 5, and 7 caught my attention.  He is trying to sell advertising, is very anti-advisor, and contradicts himself constantly.  Next year is going to be great!  Next year is going to be horrible!  At the end of 2009, I will post that I predicted the results of the year and therefore you should listen to me going forward.  Brilliant!
 
What a loser.



Who is the loser?

Snags you've been posting all this doom and gloom crap for weeks now, and so far the S&P has re-tested 840 3 times. but not broken through.  Oh...I know that's just a bunch of technical mumbo jumbo, right?

Oh...and by the way, you should check the accuracy of your sources of information.  In the article you linked, the author referred to a 30 month recession that Mr. Farrell so brilliantly "predicted".  As a point of fact, the National Bureau of Economic research reports that the business contraction was 8 months long.  Slight discrepancy there on Mr. Farrel's part:

http://www.nber.org/cycles.html

Don't believe everything you read, especially on the interweb.

 
Hang on there Hyman.  I was saying the author of that article, Farrell, is the loser.  I've been posting some of that doom and gloom crap because that's what it is, crap, and I like to stir things up.  I think the media is fueling this fire.
 
I agree with Primo.  I like Primo, and have had some very enlightening PMs with him, which I appreciate.
 
 



I humbly stand corrected.

Nov 18, 2008 8:46 am

nice homework gvf.  Maybe we're in the wrong business, I hear scaring the crap out of people full time pays pretty well

Nov 18, 2008 2:13 pm

I would humbly suggest that this guy is yet another sign of the bottoming process.

Nov 18, 2008 2:35 pm
Indyone:

I would humbly suggest that this guy is yet another sign of the bottoming process.

 
I agree Indy, this "coaster" of emotions has just passed capitulation. Can hardly wait 'till we roll on past despondency and depression!
Nov 18, 2008 2:39 pm
liquid:
Indyone:

I would humbly suggest that this guy is yet another sign of the bottoming process.

 
I agree Indy, this "coaster" of emotions has just passed capitulation. Can hardly wait 'till we roll on past despondency and depression!
 
You fellas better catch up...I'm already at the despondency phase...yippeeee!!!!
 
I think you know you're there when you don't want to look at your account values!
Nov 18, 2008 3:31 pm
snaggletooth:
HymanRoth:
snaggletooth:
Primo:

http://www.foxnews.com/story/0,2933,241460,00.html


 
 
#3, 5, and 7 caught my attention.  He is trying to sell advertising, is very anti-advisor, and contradicts himself constantly.  Next year is going to be great!  Next year is going to be horrible!  At the end of 2009, I will post that I predicted the results of the year and therefore you should listen to me going forward.  Brilliant!
 
What a loser.



Who is the loser?

Snags you've been posting all this doom and gloom crap for weeks now, and so far the S&P has re-tested 840 3 times. but not broken through.  Oh...I know that's just a bunch of technical mumbo jumbo, right?

Oh...and by the way, you should check the accuracy of your sources of information.  In the article you linked, the author referred to a 30 month recession that Mr. Farrell so brilliantly "predicted".  As a point of fact, the National Bureau of Economic research reports that the business contraction was 8 months long.  Slight discrepancy there on Mr. Farrel's part:

http://www.nber.org/cycles.html

Don't believe everything you read, especially on the interweb.

 
Hang on there Hyman.  I was saying the author of that article, Farrell, is the loser.  I've been posting some of that doom and gloom crap because that's what it is, crap, and I like to stir things up.  I think the media is fueling this fire.
 
I agree with Primo.  I like Primo, and have had some very enlightening PMs with him, which I appreciate.
 
 
 
A tear came to my eye.
Nov 18, 2008 5:22 pm

It's just that glue you're sniffing...strong stuff, eh?

Dec 8, 2008 8:42 pm
snaggletooth:

This article is about as bearish as it gets:

http://www.marketwatch.com/news/story/Well-Great-Depession-2-2011/story.aspx?guid=%7BB28B49B5%2DEFD1%2D4941%2DB57E%2DA2BA1545BA09%7D&dist=hplatest
 
Any thoughts?
 
I am quoting myself here out of utter amazement.  From Depression 2 to new bull market, here is Paul Farrell's latest article:  http://www.marketwatch.com/news/story/Ten-clues-tell-us-a/story.aspx?guid=%7B46BEE66B%2D29D6%2D4799%2D88F8%2DC6FBAD94AFAB%7D
 
THIS GUY IS A F*CKING NUT JOB.
 
The media is out of control.  Not to wish a heart attack or stroke on anyone, but isn't it about time for this douche?
 
 
Dec 9, 2008 11:41 am

Everytime you click on his article, you give him that much more power to continue writing this trite.

Dec 9, 2008 12:06 pm

Let's review the past year: Banks blow a trillion or more dollars, Fed pumps a couple of trillioni into the system for our kids to absorb, Bush and Barney Frank give former Goldman Sakx boss a blank check, Obama plans to spend another trillion fixing potholes ---- yep, it's all the media's fault.


Dec 9, 2008 12:14 pm

You're talking to yourself here. Nobody on this thread has accused the media for the mess we're in.

Dec 9, 2008 12:19 pm
anabuhabkuss:

You're talking to yourself here. Nobody on this thread has accused the media for the mess we're in.

 
Well, the previous post, for one. .... Maybe I'm just responding to all the corporate stuff I've been hearing this year that things aren't as bad as they are reported in the media.
I thought it was a good read. As financial advisors, we need to be mad at what's gone down this year. Wall Street does not have our interests in mind. Just imo.
 
 
 
 
Dec 9, 2008 2:05 pm

We're going through a cleansing process.  The market will ALWAYS be driven by earnings (over the long-term), and thus, the economy.  When the economy hits a snag, it's an opportunity for businesses to clear out some excess baggage that had accumulated over time, when earnings (economy) were roaring.  But there always needs to be some sort of catalyst for this cleansing process, and it is usually in the form of a stock-market bubble that has collapsed (i.e. credit, tech, etc.).  I mean, look around you, most people still have jobs, they are still making the same amount of money they were a year ago, but their 401K balances have been cut by a third and they are scared to spend.  Once people get over their fears and the market comes back, people will start spending again and earnings will return.  And, as always, the stock market will continue to grow.  Just in time for the next bubble.....

Yes, Wall Street takes advantage of it when it can, but that's just part of the process.