I would call that a hit as well. Who could have predicted things would go the other way? It was looking a little "doomy" a month ago. Although the next month could put us back in "doom" territory. It started today with a big pop in gold, drop in bond yields, and rumors of QE2 heating up:
http://www.reuters.com/article/idUSN149625720100914
"A string of stories that suggest the (U.S. Federal Reserve) is closer to QE2 than the market might appreciate offers by far the best explanation for the price action in the last 24 hours, including: higher gold, broad-based USD weakness, rallying Treasuries, curve flatteners and modest positive risk trades," said Alan Ruskin, global head for G10 FX at Deutsche Bank in New York.
I Think The Doom Is Getting a Little Overdone
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Re: I Think The Doom Is Getting a Little Overdone
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Re: I Think The Doom Is Getting a Little Overdone
Personally, I think the doom is way underdone. Since absolutely nothing has been fixed or even improved, but in fact has been made far worse by all of the government bailouts and other meddling, I expect a sudden crash of the dollar and gold to go "to da moon".
And no, the markets cannot remain irrational longer than I can remain solvent. As I do not use investment leverage, I cannot be shaken out no matter how wild the swings get.
And no, the markets cannot remain irrational longer than I can remain solvent. As I do not use investment leverage, I cannot be shaken out no matter how wild the swings get.
Re: I Think The Doom Is Getting a Little Overdone
It's official: The recession ended in June of 09Pkg Man wrote: Economists are an odd group (I should know), but according to the way they measure recessions then the recession that began 12/07 probably ended sometime during the summer of '09.
Business Cycle Dating Committee, National Bureau of Economic Research
CAMBRIDGE September 20, 2010 - The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday by conference call. At its meeting, the committee determined that a trough in business activity occurred in the U.S. economy in June 2009. The trough marks the end of the recession that began in December 2007 and the beginning of an expansion. The recession lasted 18 months, which makes it the longest of any recession since World War II. Previously the longest postwar recessions were those of 1973-75 and 1981-82, both of which lasted 16 months.
You can read the entire press release here: http://www.nber.org/cycles/sept2010.html
Note that all of this is somewhat of an academic exercise as there is judgement involved in deciding when a recession begins and ends.
"Machines are gonna fail...and the system's gonna fail"