There are tons of people who knew the market was in trouble much more that two years ago.

Anyone with proper experience or knowledge of how markets work, knows that the 'boom' pretty much ended late 2002. The last 4-5 years has been a credit fueled unsustainable bubble that been victim of several pops through out. Its only now that the media has caught wind of whats been going on for awhile that this 'recession' punch line has become so visible.

There's plenty of folks out there who are anbd have been shorting the markets and doing very well.

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Originally posted by StereoPrincess also big fucking lols at FOX news. What a great great network!

They're the ONLY network that gives fair and balanced news stories. Everything else is just terrorist propagnda!

what a tremendous video - i have to sayhats off to mr. shiller because he stuck to his guns and kept going strong. i admit that he might have come off a little bit brash and overly excited but his comments were spot on.

with respect to the other analysts, it's hard to tell whether they were just plain stupid or whether they saw his point but had to be the optimistic sales person and push the "buying opportunity". at the end of the day, when the market tanks, those bullish analysts are the first ones out the door so even if they agreed with mr. shiller, they would never admit it as it would probably hit their respective firms bottom line pretty hard...i mean the artificial bottom line because really mark to market accounting has really made things crazy as of late...

some people blame mark to market accounting but its really the capital markets that have been perverted to such a degree that mark-to-market accounting just isn't even applicable - mtm is a better way of keeping score but it only works when people play by the rules

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Originally posted by DigiNut PR

The first thing that came to my mind as well, way too much agreement for the topic at hand.

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quote:

Originally posted by StereoPrincess also big fucking lols at FOX news. What a great great network!

^5

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Originally posted by feelgood There are tons of people who knew the market was in trouble much more that two years ago.

10,000 odds to 1 that Larry Smith at UW knew!

I would KILL to have been in his class during the term during and/or after that reality started to become aware to the public/mass media...

Hehehehehe.

He called the crash of the dot com era years before it happened (not that anyone intelligent couldnt have forecast that that bubble of UNsustainable growth would HAVE to eventually (and sooner rather than later) collapse/deflate...) God, those were the good ol' days in his econ class...

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Originally posted by spolitta He didn't just predict a recession. His forecast was a depression greater than the great depression and the collapse of the American empire.

I have to say, I've been predicting a major depression, and that it will ensure the collapse of the American empire, for about two years. The American empire has been in steady decline since the late seventies, in my opinion. I probably saw this guy speak on tv, and now am taking full credit for his ideas. Reminds me of university, for some reason.
I've also predicted a third world war, coming to a country near you in about 2018. Learn Chinese.

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Originally posted by infinity HiGH They're the ONLY network that gives fair and balanced news stories. Everything else is just terrorist propagnda!

I love how people are singling out Fox, as if any of the other networks weren't doing the same thing.

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Originally posted by misterpink I have to say, I've been predicting a major depression, and that it will ensure the collapse of the American empire, for about two years. The American empire has been in steady decline since the late seventies, in my opinion.

Boooooring. People have predicting the collapse of the "American Empire" for some 200 years. They've been through worse economic crises than this, and in spite of the crash in the financial industry, they're still one of the most productive nations on earth, both overall and per capita.

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Every time he talked you could just hear the others back talking. The best part, Ben Stein was wrong lol.

golds going to be at $2000 per ounce by 2009 says Peter Schiff

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Last edited by Inrush on Nov-29-2008 at 23:16

I thnk I posted that in another thread about the economy, there is a good follow-up with Art Laffer on the Bil Mayer show. He goes on to talk about not being able to forecast more than 9 months in advance and so he wasn't wrong.

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Originally posted by SniFFleS He goes on to talk about not being able to forecast more than 9 months in advance and so he wasn't wrong.

At least there are people admitting this. At this point I don't know how anyone is willing to stick their neck out and declare what is going to happen in 2009. Like when Jeff Rubin predicted oil would hit $200 in 2010. I guess it still could, but did he ever look like a dolt when oil prices got cut in half (and then some).