DISQUS

kylelong100 · 1 year ago

the fear of worsening unemployment numbers tomorrow may also have something with the lated drop today. at least, that was why i was not buying stocks today. tomorrow, i hope for some real cheap stocks if the employment numbers look bad.

Bryan · 1 year ago

I believe people wanted out before tomorrows economic report after seeing today's #s. Who would be a buyer before that. No reason.

marcos · 1 year ago

Put him in a boat and sink it. Economists have more access to immediate and accurate information today than ever in the history of modern economies. Can they get it right? No. No one in the Fed or in the OMB or governmental advisors in positions of influence has been able to provide us the basis for sustained economic growth and prosperity---ever. We are no better served by these fools today than my parents or grandparents were during the Great Depression. We live through boom and bust cycles without respite and only prosper when we survive their advice.

Macfan · 1 year ago

You've redeemed yourself! I couldn't agree more,

venapro · 9 months ago

I concur

Hardhead · 1 year ago

Butthead Greenspan is indeed a hemorrhoid that won't go away - HEY YOU OLD BASTARD go fishing! GREAT BLOG by the way - added it to my daily read list.

HH

taojones · 1 year ago

call me crazy but every war has been followed by a period of DEFLATION once they are over (starting with the civil war) unfortunately this country has been at war almost continuously for over 100 years. Im no economist but it seems to me if we concentrated on fixing our bridges (and everyones teeth) instead of blowing holes in sand the money would start circulating around in this country again with the biggest danger a plethora of surplus cheap consumable goods as opposed to an arms stockpile that goes obsolete and needs replacement wether we use it or not . the results of steering us away from war were clearly characterized by the clinton years prosperity and the results of the looting of our treasury by the current jokers illustrates my point i think quite nicely
you want to stop inflation stop waging war and put everybody to work making stuff we actually want .

investor1990 · 1 year ago

The markets will not recover this year. That's why we are going down.

IC11 · 1 year ago

Hey taojones,

I remember Sept 11th when we were minding out own business fixing everyone's teeth and bulding bridges when 2 guys took 3 trillion dollars out of the economy in roughly two hours. If you think America is the aggressor, you are the problem. America is not an imperialist nation. We leave if the rebuilt country wants us to and stay to defend them if they prefer. Our biggest problem is the people that we elect to choose our wars. Like when we were attacked by Japan and went to war with Germany or Harry Truman and Korea or JFK and Viet Nam for instance.

You sound like the folks that were opposed to the Marshall Plan that rebuilt Europe after WWII.

All economies wax and wane. Having been young and unemployed during the late seventies, I remember when things were actually bad. I remember a national malaise and the misery index hovering around 20 (Unemployment % + Inflation rate %) as opposed to less hovering around 10 today.

Blaming Big Al is a little over the top. Oil Brought us here. Congressional mandates to make mortgages available to everyone regardless of risk brought us here. Maybe even budget deficits brought us here. All three of those go back to Congress. Big Al's job was to try and keep the economy growing at 3-4% with low inflation no matter what political, economic, or military event was thrown his way.

While I'm not his biggest fan, I remember him telling congress that their were huge dangers in continuing the current course with regard to deficits, entitlement spending, tax policy and other areas of congressional responsibility. Congress is responsible for the financial state of the country. They have the constitutional powers. If they delegate them to the Fed, they're still responsible.