Economists Say Recession Has Arrived

We just mentioned the CFO’s saying the same thing yesterday.

Worth watching . . .

Source:
Most Economists Say Recession Has Arrived as Outlook Darkens
PHIL IZZO
WSJ, March 13, 2008
http://online.wsj.com/article/SB120534519452630845.html

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  1. Justin L Tindall commented on Mar 14

    Yea, but the recession is already in the market. Nothing but up from here!

  2. omurice commented on Mar 14

    Interesting comments that I saw over at the housing bubble blog:
    http://www.cnbc.com/id/23588079

    “Federal Reserve Chairman Ben Bernanke should resign and the Fed should be abolished as a way to boost the falling dollar and speed up the recovery of the U.S. economy, investor Jim Rogers, CEO of Rogers Holdings, told CNBC Europe Wednesday.”

    “‘No country in the world has ever succeeded by debasing its currency,’ he said. ‘That’s what this man is trying to do. He’s trying to debase the currency as a way to revive America.

    “A recession may be a good way to clean up the economy, while trying to prevent one may cost more and actually worsen the recession, Rogers said. Also, investment banks should be allowed to fail.”

    “‘Listen, investment banks have been going bankrupt since the beginning of time. If people make mistakes — if you bail out every investment bank that gets in trouble, that’s not capitalism, that’s socialism for the rich,’ he said.”

  3. me commented on Mar 14

    BR is this the “UNEXPECTED” recession?

  4. tekel commented on Mar 14

    a recession? You don’t say?! I never would hav guessed! Thank goodness we have these wise economists to tell us what is happening to our economy. What do you think could have tipped them off?

  5. Crazy Idea commented on Mar 14

    Could this have been a bear run on Bear? The March 30 puts have had unusual activity all week. Bear says that the liquidity issues came from a bunch of unexpected redemptions, coincidentally, the day before option expiration. And this is the end of a truly awful q1 for many hedgies……. I generally don’t like conspiracy theories, but I think this is a worthwhile issue to explore.

  6. Vader commented on Mar 14

    This is bullish, since a majority of economists seems to get things wrong.

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