Before the crash, there will be a brief recovery. Everyone will talk about how the handwringing over the debt is overblown.
That’s when you move some stocks into gold.
I think the faux recovery part is just getting started. But who knows for sure?
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Inflation, soon to be hyper.
But it’s all Bush’s fault.
Fred Z (80a49d) — 3/5/2013 @ 7:42 amI know for sure! We’ll see a new high, then a brief leveling, and then a significant drop. The Fed is still buying up mortgage-based securities, and the major builders are starting to self-finance mortgages to people with lower credit ratings and smaller down payments, with the complicity of the federal government.
We have seen this before, and it didn’t end well.
The economist Dana (3e4784) — 3/5/2013 @ 7:42 amQE42 should keep the stock market stable.
JD (4f721c) — 3/5/2013 @ 7:44 amAny downturn in the economy will be blamed on sequestration. And any weird tattoos or body piercings that Kim Jong Un gets will be blamed on Dennis Rodman.
Elephant Stone (f2d669) — 3/5/2013 @ 7:50 amI need to check but I think this is longest time for Dow 30 to regain a high after collapse since Great Depression.
SPQR (1c67c7) — 3/5/2013 @ 7:51 amthis isn’t a recovery this is asset inflation driven by whorenanke’s obscene dollar printing
happyfeet (8ce051) — 3/5/2013 @ 7:57 amcan’t wait for that trickle down … aint’t gonna happen.
Dad (b17026) — 3/5/2013 @ 8:06 amJeez. Who is this fellow? I don’t even trust clicking on links from that source, given what JD and Patterico have written.
Simon Jester (c8876d) — 3/5/2013 @ 8:09 amfascism isn’t designed to trickle down silly it’s designed to make you bow down
and lick it
happyfeet (8ce051) — 3/5/2013 @ 8:10 amDad – we get it. You are jealous of the successful, hate them, and want equality of outcome. Now, quit spamming your collectivist BS.
JD (4f721c) — 3/5/2013 @ 8:16 amDad sounds like he’s at an all-time “high,” too.
Elephant Stone (f2d669) — 3/5/2013 @ 8:20 amHe must be
smokingliving in Colorado.I’d add the absence of other worthwhile investment opportunities. Businesses aren’t hiring, nor are they increasing their capital expenditures. Individuals (with money) aren’t dramatically increasing their consumption. Interest rates are so low that you lose ground putting money into interest bearing accounts. There’s nowhere else but the stock market to put one’s money.
Furthermore, just as was the case in 2007, there’s a disconnect between the stock market and the economy as a whole. One going up doesn’t mean all is well with the other.
steve (369bc6) — 3/5/2013 @ 8:20 amand the AARP doesn’t make a peep about how whorenanke is raping retired old people Mr. steve
in fascism all the gears turn together you see
happyfeet (8ce051) — 3/5/2013 @ 8:28 amThis attitude is typical of right wing extremists who for over four years have been attempting to take this country down in order to get at Barack Obama. The thing is, they have admitted it openly, starting with Mitch O’Connell 01/2009. And these people have the audacity to call themselves patriots!
Perry (329aa5) — 3/5/2013 @ 8:45 amI agree, it’s time to move. But how do you buy gold and be sure you are really owning it? Precious metals mutual fund?
Patricia (be0117) — 3/5/2013 @ 8:51 amNext trigger point is probably the debt limit shutdown coming up.
luagha (112c30) — 3/5/2013 @ 8:56 amremember this golden oldy;
http://www.enterstageright.com/archive/articles/0802/0802gepstock.htm
narciso (3fec35) — 3/5/2013 @ 9:00 amHappyfeet, I’m making a big .75% on my IRA CD! But it’s okay, because a Democrat is president.
Patricia (be0117) — 3/5/2013 @ 9:00 amPerry – Explain to us the effect of QE1, QE2, QE3, etc … on the stock market.
JD (b63a52) — 3/5/2013 @ 9:08 amThere don’t seem to be any reliable indicators of the health of the economy anymore.
The DOW is ephemeral, the UE #’s are a joke, the Consumer Index is rigged by not including food and gasoline
(any comments from the Peanut-Gallery as to why, in a world-wide sluggish economy, the price of gasoline has more than doubled on the watch of the Lightworker?),
and the GDP #’s seem to be generated by a throwing darts at a dartboard.
The good thing is that we won’t have any of those disgusting/disturbing views of people selling pencils and apples on the street from card-tables –
the Regulatory Nazis will find some rule you’re breaking or that you aren’t properly licensed, and close you down (just like they do to your kid’s lemonade stand).
Remember, “Bastille Day” is coming – and I’m not talking about the 14th of July!
askeptic (b8ab92) — 3/5/2013 @ 9:09 am@Patricia (be0117) — 3/5/2013 @ 8:51 am
Cash taken to local coin and precious metals dealers is what I recommend.
CC (a6e370) — 3/5/2013 @ 9:14 amPerry wrote:
Our esteemed host’s comment, and the theme of this thread, was economics; do you have an anything to add that’s actually on the subject?
The curious Dana (3e4784) — 3/5/2013 @ 9:16 amPrecious Perry the Regurgitard thinks half the country consists of right wing extremists.
daleyrocks (bf33e9) — 3/5/2013 @ 9:20 amDana – Perry is bridging gaps.
JD (b63a52) — 3/5/2013 @ 9:20 amThat is just cute beyond words
JD (b63a52) — 3/5/2013 @ 9:21 am“Our esteemed host’s comment, and the theme of this thread, was economics; do you have an anything to add that’s actually on the subject?”
Dana – Perry has already proved himself an economic illiterate. This is the best he’s got.
daleyrocks (bf33e9) — 3/5/2013 @ 9:27 amEconomic illiterate is grossly unfair. He would have to learn quite a bit to even get to that level. He just spits out OfA and thinkregress talking points. He is a human bot.
JD (b63a52) — 3/5/2013 @ 9:29 amIt’s clearly ‘Aristotle was Belgian, and ‘the London Underground is a political movement’ territory.
narciso (3fec35) — 3/5/2013 @ 9:33 amPerry,
We “right wing extremists” want more people dependent upon government programs such as welfare, food stamps, and universal nursery school. We all want higher gasoline prices, higher food prices, and we want Standard & Poor’s to downgrade our nation’s credit rating. And we want to see the national debt approach nearly 18 trillion by the end of 2013.
We also want a lazy President who flies to Florida for $1,000 per hour golf lessons, during the same week he’s hyperventillating about how meat inspectors, air traffic controllers, or the janitors at the Capitol Building will be unemployed within a couple of weeks if Congress doesn’t spend more time trying to fix stuff. Or something.
We also want a First Lady who lectures everyone about how often to walk their dog.
I’d say that so far, we’ve gotten everything we wanted !
Elephant Stone (f2d669) — 3/5/2013 @ 9:37 am…how about you ?
Which right wing extremists? – none got elected to washington….
now on the left……
EPWJ (1ea63e) — 3/5/2013 @ 9:38 amif you do not have physical possession of your gold, you do NOT own any gold.
that being said, consider investing in the other precious metals, such as brass, copper & lead, with some diversification into classical w*rks of art by John Garand, John Browning, Eugene Stoner, etc…
they will appreciate greatly once Perry & Dad and all their ilk are roaming the streets looking for free stuff.
redc1c4 (403dff) — 3/5/2013 @ 9:43 am“left wing extremist” is redundant.
redc1c4 (403dff) — 3/5/2013 @ 9:45 amPerry, you just make up crap. If you really believe the nonsense you write, you really should get help.
SPQR (768505) — 3/5/2013 @ 9:47 amHow’s it feel to be on the wrong side of history. Nevermind, most of you are too old to find out
Dad (b17026) — 3/5/2013 @ 9:47 amEven if we evil reich-wing extremists have “for over four years have been attempting to take this country down in order to get at Barack Obama,” we wouldn’t have had to do much; President Obama has done quite well on that score all by himself.
We evil reich-wing extremists didn’t pass the utter ruination of our health insurance system; President Obama and the Democrats did that without any help from us. We evil reich-wing extremists didn’t pass the wholly wasteful 2009 stimulus act, urinating away $831 billion and getting nothing to show for it; President Obama and the Democrats forced that one through. We evil reich-wing extremists didn’t run up a $1.4 trillion deficit in FY2009; the Democrats and President Obama did that . . . and then claimed that they were deficit cutters when deficits came down to just (hah!) $1.1 trillion!
Senator Barack Hussein Obama (D-IL) told us that it was “irresponsible” and “unpatriotic” for the national debt to have risen over $4 trillion during President Bush’s eight years in office; the national debt has risen slightly over $6 trillion in just 4 years, 1 month and 9 days under President Obama. I suppose that, to Democrats, that is thoughtful and responsible and regrettably necessary.
The evil reich-wing Dana (3e4784) — 3/5/2013 @ 9:47 amDad, you don’t have a clue what “history” even is. Your comments have shown an utter cluelessness about basic facts of recent history.
SPQR (768505) — 3/5/2013 @ 9:47 amOf course the whole idea that – after spending the Bush terms telling us that approx $500 billion deficits were destroying our country – trying to halt $1.2 trillion deficits is destroying our country …
well, its shows the basic bad faith of Democrats rather starkly.
SPQR (768505) — 3/5/2013 @ 9:50 amthe last time the DOW was here
redc1c4 (403dff) — 3/5/2013 @ 9:51 aminteresting, and scarey, historical perspective, for those who do not wish to be blindsided by history.
From Zerohedge
Kevin M (bf8ad7) — 3/5/2013 @ 9:53 am“How’s it feel to be on the wrong side of history.”
Dad – Wrong side of what history? The worst economic recovery since the Great Depression because of Obamanomics?
I’ve thought about it, and I’m pretty Okay. I wonder how folks like you can sleep at night, though.
daleyrocks (bf33e9) — 3/5/2013 @ 9:54 amred beat me to it
Kevin M (bf8ad7) — 3/5/2013 @ 9:54 am“Dad” – thank you for finally stopping your spamming of your inane collectivist link. Much appreciated.
JD (b63a52) — 3/5/2013 @ 9:54 amDad sees that the number of people on food stamps has jumped to an all time high, he sees the national debt catapulting to an all time high, and he sees Obama talking about not even having enough money to pay the meat inspectors at the FDA, then Dad says to himself, “America’s never been like this before—we’re making history !”
Elephant Stone (f2d669) — 3/5/2013 @ 9:56 amJD wrote:
Well, I doubt that Queen Elizabeth I had anything do do with it, given that she died in 1603. Queen Elizabeth II just got out of the hospital, and I can’t see how Her Majesty had much of an impact. As for Queen Elizabeth III, well, she hasn’t happened yet, so I can’t explain her impact on stocks.
The Dana sock-puppeting Perry (3e4784) — 3/5/2013 @ 9:57 amAfter the BARACKOLYPSE NOW, the SEQUESTER!! How can the upcoming debt limit crisis be a problem?
Gus (694db4) — 3/5/2013 @ 9:58 amWe’ve already fired all the cops, soldiers, teachers and gubmint gooooonion workers. What else is there?
The real reason the DOW and stocks are up is that there is no place to put your money safely.
Bonds? No interest and prices will crater if rates go up.
Savings accounts? 0.75% is a REALLY GOOD rate right now. And doesn’t meet inflation.
Gold? Maybe. Bit of a crap shoot, but maybe.
Houses? This would be my choice: quality housing in good locations within an middle- or upper-middle-class budget. Preferably small houses on big lots. Rent out now, then sell as tear-downs later. But you already need millions to get in, or a lot of income, and there is a risk.
Stocks? It’s what everyone does, but be sure to sell before everyone does.
Kevin M (bf8ad7) — 3/5/2013 @ 9:59 amKevin M., an excellant summation of the devastation that Democrat policies have wrought upon the nation’s financial status.
SPQR (768505) — 3/5/2013 @ 10:04 amPerry keeps proving the saying true: there is no fool like an old fool.
Naturally he won’t take this sound advice.
Actually our dear leader should take that advice as well. I’m reminded of the time the CEOs of companies like Caterpillar, AT&T, etc., warned him that ObamaCare as written would force them to declare huge losses. He told them they were lying.
They weren’t. It was one of the first embarrassing,Pelosi “we’ll have to pass it to find out what’s in it” with many more later and many more still to come.
We have a man in the WH who obviously doesn’t even know what the effect of government regulation has on business. Who proudly states he doesn’t understand middle school math. And he thinks he’s the one to command and control the economy.
And the old fool blames the right wing for economic messes.
Steve57 (60a887) — 3/5/2013 @ 10:06 amA guy goes into a bar in Cleveland where there’s a robot bartender…
The robot says, “What will you have”? The guy replies, ” I’ll have a whisky”.
The robot brings back his whisky and says to the man, ” what is your IQ”?
The guy.says, “168”. The robot proceeds to talk about physics, space exploration and medical technology.
The guy leaves but he is curious- so he goes back into the bar. The robot bartender asks,” what will you have”?
The man says “I will have a whisky”.
The robot returns with the drink and asks , “what is your IQ”? The guy replies “100”. The robot starts talking about NASCAR, Budweiser, the Browns, and OSU Buckeyes.
The man.leaves and once again curious, he returns to the bar. The robot says “What will you have”? The man.says I will have a whisky. The robot returns and asks, what is your IQ? The man replies “Uhhh….50″.
The robot leans in real close and says….”Soooo ….you people still happy with Obama?”
The Dana who stole someone else's joke (3e4784) — 3/5/2013 @ 10:15 amHow’s it feel to be on the wrong side of history. Nevermind, most of you are too old to find out
Comment by Dad (b17026) — 3/5/2013 @ 9:47 am
— Yet another iteration of “You lost, get over it” from the dad-hom troll.
Icy (a94363) — 3/5/2013 @ 10:47 amcan’t wait for that trickle down … aint’t gonna happen.
Comment by Dad (b17026) — 3/5/2013 @ 8:06 am
— Ya know, they have the medicines these days that will facilitate your flow and strengthen your stream.
Icy (a94363) — 3/5/2013 @ 10:50 amObama is getting his ass kicked in DC and he’s starting to figure it out. His legislative agenda is already DOA. He is losing the argument on spending cuts.
All Obama has left are temper tantrums.
SPQR (768505) — 3/5/2013 @ 10:54 amSenātus Populusque Rōmānus wrote:
Apparently not. Nor here.
The Dana who notices these things (3e4784) — 3/5/2013 @ 10:58 am40. daleyrocks
You cannot possibly be taken seriously with a whopper like that!
Perry (329aa5) — 3/5/2013 @ 11:04 amComment by Perry (329aa5) — 3/5/2013 @ 8:45 am
This attitude is typical of right wing extremists who for over four years have been attempting to take this country down in order to get at Barack Obama.
— And you know that, one way or another, we’re gonna get ‘im get ‘im get ‘im get ‘im.
The thing is, they have admitted it openly, starting with Mitch O’Connell 01/2009. And these people have the audacity to call themselves patriots!
Icy (a94363) — 3/5/2013 @ 11:04 am— As the only man to have successfully drank Mitch O’Connell under the table, I can authoritatively say that you don’t know what you’re talking about when it comes to his views. And the same goes for John Baywatch and Paul Rhineland and Eric Canton.
Perry defending Dad:
Icy (a94363) — 3/5/2013 @ 11:09 am“He couldn’t possibly be that stupid.”
“Yes he could!”
Icy, didn’t you say that after you left that party where you drank with O’Connell, Baywatch, Rhineland, and Canton, that you went to eat a Big Mac, fries, and shake, at McConnell’s ?
Elephant Stone (f2d669) — 3/5/2013 @ 11:15 amPerry, you are utterly ignorant of current economic reality, you’ve no place to be challenging anyone’s “seriousness”.
SPQR (768505) — 3/5/2013 @ 11:17 amDana who notice things, those are illustrative of the fact that Obama’s basic fraud is being exposed. Obama has lost the argument that the sequester is some disaster of GOP making. Even SNL was laughing at him this weekend.
SPQR (768505) — 3/5/2013 @ 11:19 amInsider trades 50 to 1 sell orders. So who’s buying? EU banks, China, anyone who has dollars they want to pass.
gary gulrud (dd7d4e) — 3/5/2013 @ 11:22 am“You cannot possibly be taken seriously with a whopper like that!”
Precious Perry the Regurgitard – Which economic recovery has been worse, moron?
daleyrocks (bf33e9) — 3/5/2013 @ 11:23 amdaleyrocks asks:
Have we had an economic recovery?
The economy grew at a whopping 0.1%, on an annualized basis, in the last quarter of 2012, and that was an upward revision. Even the official unemployment rate is slightly higher now than when Barack Hussein Obama took office, and the only reason it’s even remotely close is because so many people have stopped looking for work. Gasoline is $2 a gallon higher, and the real inflation rate is masked by not including food and energy prices. Your health insurance rates are climbing, and pay rates have not kept up with prices.
If this is a recovery, I’d hate to see a recession!
The inquisitive Dana (3e4784) — 3/5/2013 @ 11:37 amTake home pay is at 20 year low.
mg (31009b) — 3/5/2013 @ 12:08 pmStocks go up and down
Colonel Haiku (5a053f) — 3/5/2013 @ 12:19 pmLi’l guy gets proper pranging
this will end badly
“You’ll be in for such a perrying!”
– Group Captain Lionel Mandrake
Colonel Haiku (5763a1) — 3/5/2013 @ 12:24 pmThe Colonel didn’t haiku:
[Ding!] We have a winner!
The amused Dana (3e4784) — 3/5/2013 @ 12:39 pmAgain, no fool like an old fool:
Quarterly Update: The U.S. Economic Recovery in Historical Context
No post-WWII has been worse than the Obama “recovery.” In other words, this is the worst since the last pre-WWII recovery; the Great Depression.
Steve57 (60a887) — 3/5/2013 @ 1:24 pmSeriously; this guy’s in his 70s?
Steve57 (60a887) — 3/5/2013 @ 1:26 pmIn case you don’t want to go to the link, in 5 of 7 economic measures Obama’s “recovery” has taken top prize for putting in the worst performance since the end of WWII; real GDP, nominal housing prices, household deleveraging, industrial capacity, and federal deficit as a percentage of GDP.
In the other two, nonfarm payrolls and industrial production, Obama is merely below average.
Some whopper, huh?
Steve57 (60a887) — 3/5/2013 @ 1:32 pmWorst recovery since WWII? Hardly surprising since it was the worst recession since WWII. They’re not all the same in terms of severity, you know.
Kman (5576bf) — 3/5/2013 @ 1:36 pmKman, the rate of recovery from a recession is not proportional to the recession’s severity. But go on demonstrating your ignorance as matching that of Perry et al.
SPQR (768505) — 3/5/2013 @ 1:40 pm#70… Not true
Colonel Haiku (ba3115) — 3/5/2013 @ 1:41 pmNo, that’s just what the Obama apologists claim.
Steve57 (60a887) — 3/5/2013 @ 1:42 pm#70: That’s debatable: bad recession in late ’08 made WORSE by very, very poor policies. Probably the worst since the Jimmy Carter days; not the FDR years. FDR only “rescued” by WWII.
jb (1e0905) — 3/5/2013 @ 1:44 pmI don’t wonder why Succubus is trashing Amerikkka, what I wonder is how close this armed takeover is going to be to success.
I mean does DHS really think the cities are the lifeblood and heart of the US? Can the hope to make a fighting force of the 47%?
They do have a plan, don’t they?
gary gulrud (dd7d4e) — 3/5/2013 @ 1:46 pmRamirez’s take:
http://news.investors.com/photopopup.aspx?id=644976
scott (b8618e) — 3/5/2013 @ 1:46 pmIt’s Malaise vs Great Malaise…
Colonel Haiku (1d82dc) — 3/5/2013 @ 1:47 pmRamirez is just another racist white hispanic
redc1c4 (403dff) — 3/5/2013 @ 2:02 pm“You cannot possibly be taken seriously with a whopper like that!”
Perry hasn’t even seen my Whopper. Does he have spies?
daleyrocks (bf33e9) — 3/5/2013 @ 2:10 pmI like how the trolls are still relying on Magic, to make a sudden appearance to their good.
gary gulrud (dd7d4e) — 3/5/2013 @ 2:15 pmPerry, you letchful old fella, why are you publicly commenting on daleyrocks’ whopper ?
This is not “that kind” of website.
Elephant Stone (4c540b) — 3/5/2013 @ 2:16 pmMaybe you were thinking you’re at Andrew Sullivan’s blog.
Elephant Stone – It is kind of creepy of Perry.
daleyrocks (bf33e9) — 3/5/2013 @ 2:25 pmIt’s not debatable; you’re spot on, jb.
6 Pages of Obamacare Equals 429 Pages of Regulations
Actually, they get one of their facts wrong. the ObamaCare law wasn’t 907 pages. It was 2,700 pages.
As of May 2012 HHS had issued over 12,000 pages of regulations. Via Legal Insurrection I learn that HHS has issued 700 more pages of regulations. I know there have been thousands more pages in the meantime; the birth control mandate violating the 1st Amendment, for instance.
We are now well over 2,000 pages of regulations into ObamaCare, possibly over 3,000, and HHS is not finished issued new regulations.
And that’s just one set of regulations Obama is strangling businesses with. EPA? EEOC? NLRB?
And know-nothing boneheads (cough, cough, Perry) believe the left-wing mantra that it’s the right wing that’s sabotaging Obama’s “recovery.”
He doesn’t need the right wing’s help; he’s doing a fine job of beating his own “recovery” over the head with a shovel.
For your reading enjoyment, also via that same Legal Insurrection post:
Subway founder says regulations would prevent sandwich chain from being started today
I edited out the author of that article’s original thoughts on the subject. The airhead thinks that all this crap is merely going to result in the price of a $5.00 foot long sub rising to $7.00.
Poor Cameron Young; he has no idea.
Steve57 (60a887) — 3/5/2013 @ 2:28 pmPerry, Dad, K-mart and all the other scum bags will be in mourning for the next few days.
Obumble’s hero & role model Hugo Chavez is deader than our SCOAMF’s economy.
redc1c4 (403dff) — 3/5/2013 @ 2:36 pmEconomic illiteracy is confirmed by not realizing that historically, the steeper the drop into recession, the quicker the recovery.
askeptic (b8ab92) — 3/5/2013 @ 2:52 pmWe seem to attract quite a few EI’s, but at least they have talking points to chuckle over.
62. The inquisitive Dana:
In spite of the Bush-caused recession, both the Dow and S&P reached an historic high today, overcoming the previous historic high in 2007.
Thid tells me that both the business community and government policy must be doing some things right, in spite of the obfuscation and obstructions in Congress by Republicans who are more intent on defeating Obama and the Dems.
Where would we be without the EESA, the ARRA, including the loans to American auto companies, the latter from which Mitt Romney himself profitted $15.3M?
I fully understand that it is beyond Republican political ideology, including Dana, to give President Obama a little credit for helping to manage us through this Great Recession, but do try a little harder with a little bit of honesty and honor, please.
PS: I’ll bet many of you, I too, have made good money in the stock market, all because you have made some astute investments in some grand American companies large and small alike. Congratulations for that! Are we now about to retreat because of the premature austerity which the TEA Party is hell-bent on throwing at us? Maybe it is time to get out of the market somewhat, especially for those who are unable to withstand another market dive.
Perry (329aa5) — 3/5/2013 @ 3:35 pmPerry, Bush did not cause the recession. You keep making up stuff.
The slowest recovery since the Great Depression is not a sign of policy being “right”.
Obama did not “get us through” the recession, he made it last longer, by pursuing stupid failed policies like PPACA that have stymied business, and we are not clearly out of it.
SPQR (768505) — 3/5/2013 @ 3:44 pmHe sure do luv his talkin’ points.
askeptic (b8ab92) — 3/5/2013 @ 3:49 pm86. A dollar spent by the Federal government now generates $0.42 in economic activity. Taking a dollar of malinvestment away from Green Shoots may be bad for unions and the DNC but its good for Amerikkka.
http://research.stlouisfed.org/fred2/series/M2V?cid=32242
There is no data behind your theory, no thought, no education, just fantasy.
gary gulrud (dd7d4e) — 3/5/2013 @ 3:49 pmPerry also missed at least one other study that concluded that ARRA cost America about 250,000 jobs net.
But given how much of it was spent on Democratic corruption, that wasn’t a surprise.
SPQR (768505) — 3/5/2013 @ 3:59 pmThid tells me that both the business community and government policy must be doing some things right, in spite of the obfuscation and obstructions in Congress by Republicans who are more intent on defeating Obama and the Dems.
Step away from the crack pipe. Stock market prices today are a result of quantative easing, and inflation. You are too stupid to insult.
JD (b63a52) — 3/5/2013 @ 4:02 pmbut do try a little harder with a little bit of honesty and honor, please.
You wouldn’t know either concept if they crawled out your weinerhole and slapped you in the face. Those concepts are punchlines to people like you.
JD (b63a52) — 3/5/2013 @ 4:04 pmIf you claim there is austerity coming, and blame it on the Tea Party, you are dummerer than we gave you credit for. Ad way more dishonest.
JD (b63a52) — 3/5/2013 @ 4:05 pm91. Snigger. We gets all kinds, thas fer sure.
gary gulrud (dd7d4e) — 3/5/2013 @ 4:09 pmPerry is bridging gaps to nowhere
JD (b63a52) — 3/5/2013 @ 4:09 pmThere is one stock that I’ll give credit to Obama for its huge rise in profits and stock price.
SPQR (768505) — 3/5/2013 @ 4:09 pmJust as you can’t jump out a basement window to your death so you can’t crash until you’ve gained altitude.
Get out. Get out NOW.
Jcw46 (f33482) — 3/5/2013 @ 4:10 pmSpeaking of death by bath salt:
http://legalinsurrection.com/2013/03/klan-sighting-at-oberlin-likely-just-woman-wrapped-in-a-blanket/
Bet skipping class at Oberlin is worth $55K per year.
gary gulrud (dd7d4e) — 3/5/2013 @ 4:13 pmJD, I see Perry can’t explain the effects of QE1 through QE-To-Infinity-And-Beyond on stock prices.
This is revealing, no?
I mean, we all know these “historic (sugar) highs” are great news, don’t we?
Oh yeah, it’s going swimmingly. GDP growth has dropped a percentage point since that last “historic (sugar) high,” not counting those who’ve dropped out the labor force entirely the number of unemployed has doubled, the number on food stamps has nearly doubled, US debt as a percentage of GDP likewise, demand for US debt has dropped so low the Fed has to spend $85 billion/month to prop up demand for Treasuries and Fannie Mae/Freddie Mac securities to the point where its balance sheet has grown from less than $1 trillion to over $3 trillion (25% of US GDP; pray, Perry, enlighten us on how the Fed will unwind that), and US debt has grown from $9 trillion to $16 trillion.
Yes, Perry, that tells you the business community and the Obama regime must be doing something right. Happy days!
It tells the rest of us something quite different.
Steve57 (60a887) — 3/5/2013 @ 4:29 pmWhat’s the DOW look like in gas price or food price adjusted dollars?
Inflation should be measured by cost of fuel and food and housing, IMO, and economic metrics should be inflation adjusted.
Dustin (73fead) — 3/5/2013 @ 4:29 pmyou are dummerer than we gave you credit for
Dummerer than a sack of Andrews.
askeptic (b8ab92) — 3/5/2013 @ 4:32 pmSPQR, you forgot Sturm, Ruger.
askeptic (b8ab92) — 3/5/2013 @ 4:33 pmComment by Dustin (73fead) — 3/5/2013 @ 4:29 pm
Dustin, you know that rational thought is not allowed in the presence of trolls, it makes their one or two brain-cells bleed.
askeptic (b8ab92) — 3/5/2013 @ 4:35 pmHow long will Perry blame Bush for Obama standing on the throat of the American economy?
JD (b63a52) — 3/5/2013 @ 4:38 pmForgive me, Askeptic. I wouldn’t want to threaten an endangered species! 🙂
Dustin (73fead) — 3/5/2013 @ 4:50 pmwith dow record rally you really can have it all
happyfeet (4bf7c2) — 3/5/2013 @ 5:08 pmHow’s it feel to be on the wrong side of history. Nevermind, most of you are too old to find out
Comment by Dad (b17026) — 3/5/2013 @ 9:47 am
Actually, the problem is that too many are too young to know. Obama and company, like John F. Kerry, claimed that the US was the problem with the world, and if we would just leave Vietnam to the Vietnamese, all would be well.
We did, it wasn’t, and those who spouted such nonsense should have crawled away in disgrace.
But they didn’t, because they were really just being useful idiots for the America haters of the world.
America is far from perfect, and when you compare it to perfection it is quite a mess,
MD in Philly (3d3f72) — 3/5/2013 @ 5:38 pmbut when you compare it to the rest of the world, which is quite the mess, it is clear to see why America has an illegal immigration problem and other countries have illegal emigration problems.
To quote Bob Dylan, “I don’t know much about the economy…”
When I was growing up in the 60’s-80’s, I thought
the worth of stock was pretty well tied to the actual company and its productivity, etc. But then as there was more money to put into 401k’s and mutual funds and such, market forces pushed up the prices because people just needed to buy something with their money. The beginning of the Internet and the dot come industry was ripe to see prices soar, even if there was often “no there there”.
It seemed perfectly reasonable for the economy to slow after the dotcom burst, not to mention 911 (oh, that). In spite of all of the blabber about a “jobless recovery”, it actually seemed pretty good compared to what we’ve had with the one.
Although they don’t get enough “credit” for it, it seems that manipulation of the housing market by the Dems and community organizers like the one was largely the reason for the 2008 meltdown.
It doesn’t seem that there is much reason for the stock market to go up other than people want to put their money somewhere other than a savings account (which gets nothing) or real estate (iffy most places still, I think).
So it seems to me once again that it makes more sense to expect a “correction” than anything else.
I would like to know how to have my parents finance my mortgage, so they could get 2.5% instead of nothing, I could pay lower than I do, and the money would stay within the family as well. But liquidity is the problem there.
MD in Philly (3d3f72) — 3/5/2013 @ 6:04 pmJD, I see Perry can’t explain the effects of QE1 through QE-To-Infinity-And-Beyond on stock prices.
This is revealing, no?
It clarifies what we already know.
JD (b63a52) — 3/5/2013 @ 6:16 pmSteve57 wrote:
It’s all George Bush’s fault!
The Dana channeling Perry (af9ec3) — 3/5/2013 @ 6:21 pmComment by The Dana channeling Perry (af9ec3) — 3/5/2013 @ 6:21 pm
Are you really sure you want to do that, Dana?
MD in Philly (3d3f72) — 3/5/2013 @ 6:23 pmWell, indeed, adjusted for inflation the DOW 30 index hasn’t regained its highs.
But that’s all irrelevant because the stock indexes have never been an indicator of economic health … except for the utterly economically illiterate like our president.
SPQR (768505) — 3/5/2013 @ 6:32 pm“Dad” is just edgy because Mom divorced him a couple of years ago.
She eventually remarried a man by the name of Ward Cleaver, who makes a nice living as an insurance salesman.
Mr. Cleaver imparts hard work, discipline, responsibility, fair play, and dignity. He also wears a nice charcoal suit with tie, and he can replace a timing belt, as well as repair a lawnmower.
Mom realizes that Dad’s whiney “but the rich taxpayer owes me a living !” point of view cannot hold a candle to a solid citizen such as Ward Cleaver.
Elephant Stone (9b9972) — 3/5/2013 @ 6:43 pm99. JD
It tells me that we should have passed the Jobs Act last year, and we should have closed tax loopholes and reduced tax expenditures several years ago. Then we would have had more jobs/lower unemployment, and, we may well have reduced the deficit, as all three measures increase revenue. I blame the dysfunctional Congressional Republicans for their lack of foresight, still true today.
19. JD
The Quantatitative Easings have kept interest rates very low, therefore they have been a facilitator for economic growth, albeit too weak, from the Bush Great Recession. Without it we would probably still be in recession, or worse. As well, QE’s have promoted the stock market to the upside as well as bond prices, a top down approach which has benefited the wealthy more than the middle and poor, the latter being a downside. The construction and real estate industries are beginning to feel the benefits of QE, finally.
Another down side to QE is the risk of future inflation. I would hope that a continuing improvement in jobs and investment will work against too rapid a rise in inflation. In anticipation of the bond market faltering, except TIPS, it would be wise at this point to favor equities more, in my view. This outcome would also be a benefit to the working middle and poor, who would have more to spend, thus demand side improvement to our economy.
Perry (329aa5) — 3/5/2013 @ 6:57 pmThat’s true, but the most important driver is the increase in the money supply. Money isn’t wealth. As the Fed keeps printing currency, it’s worth less and less as they churn it out. Stocks, commodities, etc., aren’t really going up in price. People just convert their cash into things that are better at holding their value then the paper notes the Fed keeps flooding us with.
If the currency weren’t being debased, there wouldn’t be the rush to find some way to get rid of it in exchange for something that isn’t increasing in supply as fast and, therefore, not going down in value.
If the economy was truly improving more goods would be produced for people to buy. But as I pointed out earlier industrial production remains below average.
Steve57 (60a887) — 3/5/2013 @ 7:01 pmYou missed the most proximate example of the illiterate. I refer you to comment #114.
Steve57 (60a887) — 3/5/2013 @ 7:03 pmPerry,
Try Ensure.
Elephant Stone (9b9972) — 3/5/2013 @ 7:03 pmPerry wrote:
Even the liberal denizens at Think Progress wouldn’t swallow that line!
The Dana who checked (af9ec3) — 3/5/2013 @ 7:04 pmWell, if it’s good enough for Zimbabwe, it’s sure as hell is good enough for us.
^ Worth keeping in mind if one assumes the health of a country’s stock market necessarily goes hand-in-hand with the health of a nation’s economy.
Mark (928c12) — 3/5/2013 @ 7:10 pmBuying our own debt with more debt runs the risk of possible future inflation.
I really don’t think Perry lives on this planet. The economy is recovering? Obama declared it recovered a looooooooooooooong time ago. Remember recovery summer? We have turned the corner. Jobs are increasing? There continues to be an exodus from the workforce, after 99 weeks on unemployment.
The jobs act nonsense proposal, build bridges, invest in infrastructure, invest in green energy boondoggles, etc … Would increase revenues? You are effin delusional.
JD (b63a52) — 3/5/2013 @ 7:11 pmSomebody doesn’t realize the rise in stock prices is inflation; nothing more.
Ah, those trustworthy government statistics. If we used the same methodologies the government used in 1980 our current official inflation rate would be 10%. If we used the same methodologies as in 1990 it would clock in at 5.5%
CNBC: Inflation Actually Near 10% Using Older Measure
The author gives too much credence as to why the government changes the methodologies. The bottom line is it’s in the political interest of whoever is in charge to understate certain statistics.
Want me to tell how, if I were in charge of the stats, we’d have less than 5% unemployment tomorrow?
Steve57 (60a887) — 3/5/2013 @ 7:13 pm“PS: I’ll bet many of you, I too, have made good money in the stock market, all because you have made some astute investments in some grand American companies large and small alike.”
Perry – Why not share some of your investing prowess and stock pick with the right wing extremists on this blog? Regale us with how much money you made and on which stocks.
daleyrocks (bf33e9) — 3/5/2013 @ 7:15 pmIn short, QE1-4738264 have propped up a stock market with inflationary dollars and hampering investment in other vehicles, by artificially suppressing interest rates. As soon as they quit pumping this bubble, it ain’t gonna be pretty. So, your worship of Teh Won for a not-adjusted-for-inflation high due to inflation shows how shallow your understanding is, and how deep your commitment to be a mouthpiece for Teh Won is.
JD (b63a52) — 3/5/2013 @ 7:16 pm67. Steve57
Your statement makes no sense to me, but I think you mean to compare the post-WWII recovery to the post-Bush43 recovery.
You are comparing apples to oranges, therefore there is little to be learned from your cite. We had practically no global competition post WWII; a huge difference.
It is worth noting, however, that the post WWII recovery was achieve at a time when our tax policies were extremely progressive, taxing the top earners very heavily. Moreover, we had the GI Bill, which heavily facilitated education and job training, in contrast to today’s environment.
Perry (329aa5) — 3/5/2013 @ 7:20 pmIt is worth noting, however, that the post WWII recovery was achieve at a time when our tax policies were extremely progressive, taxing the top earners very heavily. Moreover, we had the GI Bill, which heavily facilitated education and job training, in contrast to today’s environment.
Unpack all the silliness in this one paragraph …
JD (b63a52) — 3/5/2013 @ 7:32 pmJudging by your comments, Perry, a whole lot is beyond your understanding.
I thought my statement was clear enough. In any case it was just a restatement of the first sentence in the paragraph I quoted from the article I linked to. If that was still not clear enough, a thorough person would have gone to the link.
We now know that along with all your other demonstrated gifts you are not a thorough person.
Had you taken the time to go the link and looked at the charts, you’d see that the Obama “recovery” is worse than they worst of any post-WWII recovery in 5 of 7 economic measures. Not just worse than the WWII recovery.
And well below the average for all prior post-WWII recoveries in 6 of the 7 categories.
But don’t bother; I’m sure those charts would make no sense to you either.
Steve57 (60a887) — 3/5/2013 @ 7:40 pmthat the post WWII recovery was achieve at a time when our tax policies were extremely progressive, taxing the top earners very heavily
Within the context of a devastated Europe, a destroyed Japan, a China and Russia (or Soviet Union) at the height of self-paralysis, and an American society not spoiled by decades of prosperity. For example, modest-income Americans of the 1940s and 1950s would have been stunned by just how comfy and self-entitled their counterparts are in the 21st century.
We’re living in a brave new world, suckers.
Mark (928c12) — 3/5/2013 @ 7:42 pm“It is worth noting, however, that the post WWII recovery was achieve at a time when our tax policies were extremely progressive, taxing the top earners very heavily.”
Perry – Something which never seems to sink in with you libs because you keep bringing it up, the good old days of higher marginal tax rates on top earners, is whether the tax structures in place in those times ever generated higher revenues for the government. Can you answer that question Perry?
daleyrocks (bf33e9) — 3/5/2013 @ 7:44 pmMoreover, we had the GI Bill, which heavily facilitated education and job training, in contrast to today’s environment.
Comment by Perry (329aa5) — 3/5/2013 @ 7:20 pm
— And we do not currently have a GI Bill?
Icy (a94363) — 3/5/2013 @ 8:58 pmThe liberals have been telling us for decades that the post-war 1940s & 50s were a wasteland of “Peyton Place” family values, conformity, white bread, and prudishness that we should not hold up as the ideal civil society.
Now Perry tells us it was the original Paradise on Earth, albeit because income tax rates were so high, and everyone was getting educated and trained for the workforce.
This is typical of that anthropological model known as The Liberal.
Elephant Stone (e3a9b3) — 3/5/2013 @ 9:11 pmHe says “x” on this day, then says “y” on that day.
The goalposts are eternally moving.
124. “Your statement makes no sense to me”
No sh*t. You are senseless, imbecile.
gary gulrud (dd7d4e) — 3/5/2013 @ 10:22 pm122. daleyrocks
I’m happy to share. My investment strategy is home grown and not very complicated. I’ll give you a few details along with favored pundits:
I pick individual stocks of companies I like, focusing on those that appear to be undervalued. I also focus on sectors, purchasing appropriate ETFs and some mutual funds (the latter usually Vanguard due to low fees).
I’ve done pretty well in the past year with HD, IBM, AAPL, GOOG, PM, PFE, AGNC, CMO, IVR, and still own all but AAPL which I sold soon after Jobs’ passing, HD being a major winner. As you can see, I’m invested in REITs beginning early last year and expanding since. “Pretty well” to me has been in the 8-9% range per year over time. I took a loss in 2009, but did get out fairly early, in January.
On sectors, I’m currently in ETFs in health care, home builders, finance, retail, and consumer staples. I also own a few mutual funds in mid-cap, small-cap, and international (with some emphasis on the BRIC nations).
I’ve recently moved more toward equities, away from bonds, and anticipate continuing to do so.
In bonds, I’m moving more toward TIPS. My bonds are in mutual funds. I pay attention to PIMCO CEO Mohamed El-Erian.
I follow the market on a daily basis, and tune in to NBR and CNBC regularly. I also pay attention to Cramer, whom I think is quite astute, as well as to Nouriel Roubini, Mark Zandi, and yes, Paul Krugman too.
My wife and I have just decided to hire a professional advisor, an independent CFP, to give us input on financial planning including investing, so that hopefully we can do better in the future and be better protected as well. This person has done very well for my next door neighbor over the years.
Perry (329aa5) — 3/6/2013 @ 8:38 amKevin, a friend of mine has a few investors who are extremely wealthy who are buying up distressed condos and homes, holding them, and then making a profit. Land will always be there, I guess, as opposed to P/E ratios.
I believe we don’t have capitalism anymore, recessions and recoveries. We have a series of bubbles financed by the Fed. I’m sure it won’t end well.
Patricia (be0117) — 3/6/2013 @ 11:25 am