Quote of the Day: 2008

This is classic:

"The best thing about 2008 is that it will end next winter."
-Ken Goldstein, labour economist at The Conference Board.

(I’d hate to think what the 2nd best thing is.)

Hat tip:  Quotation of the day

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Source:
Initial jobless claims rise 19,000 to 373,000;
Continuing claims highest since October 2005

Ruth Mantell
MarketWatch, 11:16 a.m. EST Feb. 28, 2008
http://tinyurl.com/2vumoa

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What's been said:

Discussions found on the web:
  1. Dark Man commented on Mar 13

    Man things are exciting today. The year is young! Long live the Blackest of all Bear Markets!

  2. Crim Jamer commented on Mar 13

    Hey All…
    not to detract from Barry (because he is “the Man”), but Bill Hester over at Hussman has some neat charts about this “recession” compared to average recessions…for those who don’t have all this memorized:

    http://hussmanfunds.com/rsi/recessduration.htm

  3. VennData commented on Mar 13

    Another great quote but from Paulson today: “We aren’t singling out any group of market participants, because…there were mistakes made by all,” including regulators, Mr. Paulson said.

    Not time for the blame game? God forbid we wouldn’t want to blame anyone for increasing deficit, the $9.4T debt, the collapsing dollar, collapsing house prices, leveraged speculators, inflation, the zero-down Bush bill of 2004, Treasuries outperforming stocks for seven years, etc…

  4. bluestatedon commented on Mar 13

    “Retail Sales Post Unexpected Drop
    WASHINGTON (AP) — Consumers, battered by plunging home prices and a credit crunch, stayed away from the malls in February, pushing retail sales down by a larger-than-expected amount.”

    One definition of insanity is doing the same thing over and over again yet expecting different results.

    I’d add an economic corollary: insanity is seeing a constant stream of negative economic data over time, yet being continually surprised at each new negative data point.

  5. Pat G. commented on Mar 13

    The better thing about 2008 especially towards the end is that Bush’s regime will come to an end. His legacy; the worst U.S. president in history. In hindsight, his days at Harken Oil “were” a clear indication of his capability.

  6. Rayeames commented on Mar 13

    hi
    Poor nations we are , Crude will be to $150 next winter and we are not ready to ride a another kondratieff wave.
    Next decade maybe a new energy . Impossible to aclimate us in a short time.

  7. IBH commented on Mar 13

    my favorite is:

    CITI brings back John Reed as a consultant.

    Next, we will read that AXP brings back Jimmy Three Sticks. Nothing like turning to the past instead of recruitng new and innovative leaders.

  8. Pat G. commented on Mar 13

    “Nothing like turning to the past instead of recruitng new and innovative leaders.”

    I heartily agree with that assessment.

  9. scorpio commented on Mar 13

    that’s right, 2008 will be over this winter. and then 2009 starts. remember the Roman god Janus from whom we get January: the two-faced god of the doorway, he sees back in time and he looks forward in time. to more of the same old shit. (i’m just talking about the market and the economy and the political situation of US. everything else is good. i just got a puppy)

  10. bartkid commented on Mar 13

    That’s what they sed about 2007 last year.

Read this next.

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