“sensational wave” of “better than expected” economic news and “earnings” reports are on tap woo-hoo!!
By Daniel at 5 October, 2009, 9:45 am
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The obvious overconfidence in the “recovery” has transformed itself into overconfidence, tantalizing hope, and setting the bar ultra-low so “earnings” can beat pitiful forecasts which explodes into recovery mania. President Obama is a master at making things appear better than they really are and conning the baby boomers to giving those 401k’s another try. The lack of ability, brains, and clear, concise vision in government is evident. His “bold and coordinated action” has saved us from the Apocalypse!! Why trust anything Mr. Gheitner and Mr. Bernanke or Summers say? They have been wrong the past 10 years, they didn’t see “economic Armageddon” what makes them right this time? Employment is a “lagging” indicator yes, but please excuse the 263,000 Americans who lost their jobs in September for not standing up to cheer this “recovery.”
ImpendingDoom
Janet Tavakoli: Risk of deflationary collapse greater now than in 2007
“Regarding the outlook, my analysis is grim. I am not a doomsayer, I follow the cash, and so far, I’ve been correct, and the government has been wrong. Here’s the situation. We are at greater risk of a total meltdown due to a deflationary collapse than we were in 2007. After the greatest Ponzi scheme in the history of the capital markets, we’ve seen history’s greatest fiscal and monetary expansion, but it hasn’t worked. Debt levels of consumers and business exceed the capacity to repay.”
http://globaleconomicanalysis.blogspot.com/2009/10/janet-tavakoli-risk-of-deflationary.html
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