Mother of all Meltdowns

[Undertoad]

When apples are popular, sell apples; when pessimism is popular, sell doom.

He first predicted a US recession in July 2006. At that time, his view was extremely controversial. It is so no longer.

As we have well noted here, recession is inevitable. Predicting recession is no more interesting than predicting the Summer.

The last round of economists predicting doom happened after Enron and the Andersen accounting scandals. Those predictions were followed by a boom. Go figure.

[smoothmoniker]

Originally Posted by Undertoad

Predicting recession is no more interesting than predicting the Summer.

Holy crap, there's gonna be a SUMMER? Why didn't anyone WARN US!

[richlevy]

Originally Posted by smoothmoniker

Holy crap, there's gonna be a SUMMER? Why didn't anyone WARN US!

Speak for yourself. I've been hoarding sunscreen and Krugerrands for months.

[grassy]

Hey breif me in on the digital tv conspiracy? There HAS got to be one? ARE you kidding? Hey i waited for the Y2k? I had 24 cans of beef stew, 32 cans of corned beef hash, a generator, batteries even make-up( i'm a female) I was ready. I even had a few gallons of vodka, thinking it would be worth it's weight in gold. The ONLY thing that happened was this: My Y2k novelty HAT, Beeped off two hours early? gees. There you have it. I ate beef stew in a can for years! cindy

[xoxoxoBruce]

Originally Posted by Undertoad

When apples are popular, sell apples; when pessimism is popular, sell doom.

Yes, but this guy has laid it out in 12 steps, not vague predictions of doom. It will be easy to follow along and see if he was right or not

[barefoot serpent]

Originally Posted by xoxoxoBruce

Yes, but this guy has laid it out in 12 steps, not vague predictions of doom. It will be easy to follow along and see if he was right or not

The monolines appear solvent -- for now

Originally Posted by UT

When apples are popular, sell apples; when pessimism is popular, sell doom.

I first read that as persimmons instead of pessimism...

[TheMercenary]

Originally Posted by Undertoad

When apples are popular, sell apples; when pessimism is popular, sell doom.

As we have well noted here, recession is inevitable. Predicting recession is no more interesting than predicting the Summer.

The last round of economists predicting doom happened after Enron and the Andersen accounting scandals. Those predictions were followed by a boom. Go figure.

Yea, I don't buy it either. We should focus on our own situations and be sure to get our personal finances in order and the majority of us will come out just fine. Start by reducing your revolving credit and paying off bills.