How did we miss the economy's warning signs?

[SirJosephPorter]

I think you're being very optimistic about an early recovery especially with our sorry industrial capacity, but it's not a crime to be overly optimistic as long as nobody suffers because of it.

I didn’t say anything about an early recovery. This is what I said:

Similarly, currently none of them are predicting a recovery, even though we know it is highly likely that there will be recovery in a few years at most.

I don’t know when there will be a recovery, in six months, one, year, two years etc. But that is supposed to be the job of economic experts, to tell us when we can expect recovery. If you listen to economic experts, it is doom and gloom forever (as I said, experts usually predict that what has been happening will continue to happen).

A really good and knowledgeable expert, if he is worth his salt, will be able to tell us that economy will start turning around in two years; recovery will be in full swing in three years etc., rather than predicting doom and gloom till Kingdom come.

 

[Kreskin]

The excesses are being flushed. I think everyone intuitively knew that housing was way too high and the west was living too high on the hog for basically being a Walmart job market.

 

[darkbeaver]

I didn’t say anything about an early recovery. This is what I said:

Similarly, currently none of them are predicting a recovery, even though we know it is highly likely that there will be recovery in a few years at most.

I don’t know when there will be a recovery, in six months, one, year, two years etc. But that is supposed to be the job of economic experts, to tell us when we can expect recovery. If you listen to economic experts, it is doom and gloom forever (as I said, experts usually predict that what has been happening will continue to happen).

A really good and knowledgeable expert, if he is worth his salt, will be able to tell us that economy will start turning around in two years; recovery will be in full swing in three years etc., rather than predicting doom and gloom till Kingdom come.

My mistake about what you said. Let me try to paint my cloudy little vision of the big picture. It may explain my gloomy forcasting. It is my opinion that recovery of our global economic model is no longer a fix for what ails us even if we could pull it off again, which is impossible and not at all what the people behind the curtain want. No pain no gain, let the hurtin begin. I can tell you that unless we start building things like shoes and tables and food again we ain't ever going to recover, we have been serviced near to death. Maybe after we've righted things in Afghanistan and bombed and poisioned all the bad terrorists all over the world for years things will get better. I bet there'll be a lot fewer of us to enjoy the security and comfort though, I think.Signs of the Times News for Mon, 23 Feb 2009

 

[taxslave]

We saw it coming. It was only the greedy and those with a vested interest in the giant ponzi scheme called a stock market who didn't. Or at least would not admit it publicly. Like the dirt pimps that were still trying to pump up house prices even though sales were dropping. Note that the ones at the top got lots of loot over the past few years and unless they are really stupid should be set for generations.

 

[Kreskin]

A year ago a guy asked me where I thought real estate prices were going. I told him my guess was it would be about 25% less in 10 years.