goods pile up in as ression nears - worst since the 1930s? (merged)

[truthmatters]

Talk of Worst Recession Since the 1930s
By DAN DORFMAN
November 12, 2007


After what Los Angeles money manager Arnold Silver called "a brutal three days," the question is: What now for the market?

A Wall Street superstar this year who runs Balestra Capital Partners, Jim Melcher, says he's "worried about a recession. Not a normal one, but a very bad one. The worst since the 1930s. I expect we'll see clear signs of it in six months with a dramatic slowdown in the gross domestic product."

Balestra Capital, a $350 million New York hedge fund, was up 3% for the past three market sessions, when the Dow Jones Industrials, spearheaded by widespread declines in financial stocks and fears of more billion-dollar-plus asset write-downs, tumbled more than 677 points, or about 4.5%. The Nasdaq fared worse, skidding about 7%, triggered by across-the-board declines in those fast-stepping technology stocks.
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http://www.nysun.com/article/66268

[truthmatters]

http://www.reuters.com/article/reute...46297620071112


People are not buying and this could be a bleak christmas.

[darin]

I think it's a little sad people have (no pun intended) bought into the lie we have to 'buy stuff' for people, simply because it's Christmas. :-/

Christmas isn't about 'giving' any longer...it's about 'buying'.

I know - that's an off-topic editorial on society. Sorry.

[mrg666]

I think it's a little sad people have (no pun intended) bought into the lie we have to 'buy stuff' for people, simply because it's Christmas. :-/

Christmas isn't about 'giving' any longer...it's about 'buying'.

I know - that's an off-topic editorial on society. Sorry.

As previously mentioned ( somewhere) a lot of stores / companies rely on the xmas trade . i am no economist but from what i can gather it actually helps the economy , when folk spend (as well as bumping profits).

Sales analysis reports in recent months have produced a generally positive picture of the health of UK High Streets, despite the concerns stemming both from the overall global economic slowdown and from the effects of the 11 September attacks.

[April15]

I think it's a little sad people have (no pun intended) bought into the lie we have to 'buy stuff' for people, simply because it's Christmas. :-/

Christmas isn't about 'giving' any longer...it's about 'buying'.

I know - that's an off-topic editorial on society. Sorry.

I agree! The giving was of ones self through a hand made gift to express the endearment.

[truthmatters]

People here dont like to talk about the economy, I wonder why?

[darin]

I do! The economy is working fine for me...it'd be working a little better if Democrats would stop trying to take my money.

[truthmatters]

I will take that to mean you only care about yourself. You will care when the full impact is felt from the policy which wraught this on America. When you ignore the abuses of corporations on the unsuspecting American puplic and allow them to be used as pawns in a system they are used to trusting to protect them this is what you get. Your kids will have some questions for you later in life as to why you allowed their future prosperity to be raped.

[darin]

I will take that to mean you only care about yourself.

That's a ridiculous conclusion.

You will care when the full impact is felt from the policy which wraught this on America. When you ignore the abuses of corporations on the unsuspecting American puplic and allow them to be used as pawns in a system they are used to trusting to protect them this is what you get. Your kids will have some questions for you later in life as to why you allowed their future prosperity to be raped.

Can we make a rule against hyperbole and Hysteria and hysterics and alliteration and drama and rhetoric? If we make such rules, would you ever post anything?

[hjmick]

Doom and gloom, doom and gloom...

[bullypulpit]

I do! The economy is working fine for me...it'd be working a little better if Democrats would stop trying to take my money.

They just want to pay off the debt Chimpy McPresident has run up financing his dirty little war with Iraq, the TOTAL costs of which are expected to EXCEED $1.6 <font color=red><b>TRILLION</b></font>. And given that China owns a large chunk of that debt, we'll be dancing to their tune for a looooong time to come. So much for national security.

[red states rule]

They just want to pay off the debt Chimpy McPresident has run up financing his dirty little war with Iraq, the TOTAL costs of which are expected to EXCEED $1.6 <font color=red><b>TRILLION</b></font>. And given that China owns a large chunk of that debt, we'll be dancing to their tune for a looooong time to come. So much for national security.

and libs have spent $9 trillion on social programs

now your Presidential candidates have promised $700 billion in new spending (and keep the books open)

I understand your biggest fear on Iraq is happening. The US militray is winning and great progress is being made. That is a big political problem for the Dems

[manu1959]

People here dont like to talk about the economy, I wonder why?

well i specialize in multi family housing condos and the like .....

we have grown by 15% per year over the past 3 years and are on pace to do it again this year .....

so if the economy sucks no one has told my clients .... which just hapen to be the fortune 500 of public and private home builders ....

[Nukeman]

I think truthdoesntmatter is a Hillary plant!!! Or maybe she is Hillary!!!!

[manu1959]

I think truthdoesntmatter is a Hillary plant!!! Or maybe she is Hillary!!!!

see other thread on tokyo rose.....