BE AWARE: Reasonably High Chance Economy Will Contract in 2nd Half of 2010

  • metta

    Posts: 39167

    Dec 28, 2009 6:35 AM GMT


    http://blogs.abcnews.com/politicalpunch/2009/12/krugman-reasonably-high-chance-the-economy-will-contract.html
  • Webster666

    Posts: 9217

    Dec 28, 2009 7:58 AM GMT
    My concern is that the other shoe is going to drop in the housing market, when, in April, 2010, many hundreds of thousands of home loans will be automatically adjusted to a much higher interest rate, creating a second wave of the mortgage crisis, resulting in the next round of foreclosures.

    While the stock market should stay strong, the job prospects will look even worse than they do today.

    But, I do agree with Paul Krugman.
    The second half of the 2010 economy (except for the stock market, in my opinion) will look pretty bad.
  • metta

    Posts: 39167

    Dec 28, 2009 8:27 AM GMT
    Stocks higher? Famed investor says don't bet on it

    http://news.yahoo.com/s/ap/20091227/ap_on_bi_ge/us_markets_sugar_high;_ylt=Ag0Q_u1Xdma7szc0eUyw0b4DW7oF;_ylu=X3oDMTJxc2IyNWF0BGFzc2V0A2FwLzIwMDkxMjI3L3VzX21hcmtldHNfc3VnYXJfaGlnaARwb3MDNQRzZWMDeW5fYXJ0aWNsZV9zdW1tYXJ5X2xpc3QEc2xrA3N0b2Nrc2hpZ2hlcg--

    http://alturl.com/yb7a
  • metta

    Posts: 39167

    Dec 28, 2009 7:19 PM GMT


    2009: The Year Wall Street Bounced Back and Main Street Got Shafted

    [quote]
    As long as income and wealth keep concentrating at the top, and the great divide between America's have-mores and have-lesses continues to widen, the Great Recession won't end -- at least not in the real economy.

    [/quote]

    http://robertreich.blogspot.com/2009/12/2009-year-wall-street-bounced-back-and.html
  • Webster666

    Posts: 9217

    Dec 28, 2009 9:52 PM GMT
    "Stocks higher? Famed investor says don't bet on it"
    ______________________________________________
    Yeh, I can remember, a couple of years ago, when the stock market was at an all time high, almost all of the "experts" predicted that it would hit 16,000. That was just before it crashed.

    Right now, the economy is running primarily on government stimulus money. I predict that, when that runs out, the President will simply ask Congress to provide more, keeping the stock market chugging along, higher and higher.

    If the Republicans retake Congress in 2010, all bets are off.
  • metta

    Posts: 39167

    Dec 29, 2009 2:50 AM GMT
    Forecast 2010, BY James Howard Kunstler, author of "The Long Emergency"

    The Center does Not Hold...
    But Neither Does the Floor


    http://kunstler.com/blog/2009/12/forecast-2010.html#more

    The Year Ahead

    [quote]
    I believe we will see the outbreak of civil disturbance at many levels in 2010.
    [/quote]

    [quote]
    I think we'll see a variety-pack of political disturbance led first by people who are just plain pissed off at government and corporations and seek to damage property belonging to these entities. The ideologically-driven will offer up "revolutionary" action to redefine some lost national sense of purpose. Some of the most dangerous players such as the political racialists, the posse comitatus types, the totalitarian populists, have been out-of-sight for years. They'll come out of the woodwork and join the contest over dwindling resources. Both the Left and the Right are capable of violence. But since the Left is ostensibly already in power, the Right is in a better position to mount a real challenge to office-holders. Their ideas may be savage and ridiculous, but they could easily sweep the 2010 elections - unless we see the rise of a third party (or perhaps several parties). No sign of that yet. [/quote]




    http://kunstler.com/blog/2009/12/forecast-2010.html#more


    Markets and Money
    [QUOTE]
    I'll take another leap of faith and say that 6600 was not the bottom for the Dow. I've said Dow 4000 for three years in a row. Okay, my timing has been off. But I still believe this is its destination. Given the currency situation, and the dilemma of no-growth Ponzi economies, I'll call it again for this year: Dow 4000. There, I said it. Laugh if you will....[/FONT]

    [/quote]
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    Dec 29, 2009 3:13 AM GMT
    metta8 saidStocks higher? Famed investor says don't bet on it

    http://news.yahoo.com/s/ap/20091227/ap_on_bi_ge/us_markets_sugar_high;_ylt=Ag0Q_u1Xdma7szc0eUyw0b4DW7oF;_ylu=X3oDMTJxc2IyNWF0BGFzc2V0A2FwLzIwMDkxMjI3L3VzX21hcmtldHNfc3VnYXJfaGlnaARwb3MDNQRzZWMDeW5fYXJ0aWNsZV9zdW1tYXJ5X2xpc3QEc2xrA3N0b2Nrc2hpZ2hlcg--

    http://alturl.com/yb7a


    And MANY famed investors say otherwise.