Monday, Sep 20, 2010
Story on the century, sounds made up to me
Yahoo: US exits longest recession since World War II
"The recession lasted 18 months, which makes it the longest of any recession since World War II," the bureau said in a statement.
More than eight million jobs were lost in the slump that was triggered by dodgy Wall Street mortgage investments
Posted by mark @ 04:22 PM (1079 views) Add Comment
15 Comments
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1. mark said...
note they don't blame stupidly high house prices, plus they are about a year late announcing it..
2. sibley's b'stard child said...
"The committee decided that any future downturn of the economy would be a new recession and not a continuation of the recession that began in December 2007."
Say what?
A spokesman for the hospital claims that the patient died as a result of a blood infection acquired post surgery.
3. This comment has been removed as it was found to be in breach of our Blog Policies.
4. estrader said...
You couldn't make it up could you!
"If you are still unemployed next week, or if you become unemployed or lose your house, it has nothing to do with the "last" recession, it's a whole new one"
5. sibley's b'stard child said...
Revisionism of the highest order.
10 out of 10 for slipping the word 'dodgy' into the article, mind:
"More than eight million jobs were lost in the slump that was triggered by dodgy Wall Street mortgage investments".
Yeah, a few people died during WWII because of some, like, bad dude called Hitler.
6. will said...
Those who follow the stock markets will recognise the importance of the timing in this report, as the markets are divided on where to head next.
A little encouragement from this report should see the markets break up.... at least that is what they want to happen.
A crises in the Euro zone will cause the next leg down this autumn.
7. jack c said...
Bloomberg are also covering this (but in more detail) www.bloomberg.com/news/2010-09-20/u-s-recession-ended-in-june-2009-was-longest-since-wwii-nber-panel-says.html
DOW and FTSE both up roughly 100 points right now
8. estrader said...
Jack C,
The movement in the stock market has nothing to do with that news. I explained last Friday what the market will do although I expected it to happen tomorrow after the FOMC announcement. The smart money is way ahead of the game, always.
9. Chris Giften said...
Are they kidding? Every single economic indicator that isn't faked or massaged shows it's getting worse. Government - state and fed, businesses and individuals are up to their private areas in debt and falling revenue. Fossil fuels and commodities are getting more expensive daily. Central banks are doing their best to cause hyperinflation to finish off the job of ruining their economies. Enormous fraud is left unprosecuted. Civil rights erode before our eyes and the continuing war crimes committed by Amerika and it's client states show no signs of ending.
10. Crunchy said...
OK you dumb American patriots that still believe NIST was telling you the truth, you can now rally for a war on Iran, once we can find an excuse to hop over from one to the next.
Can we afford it? "YES WE CAN"
11. str 2007 said...
Yes estrader, your warning stopped me adding to my short earlier today, cheers for that.
Did you have a target for this rally?
12. bidin'matime said...
estrader - I missed your comment and have looked back at Friday's postings but cant find it - would you mind repeating it for those of us less enlightened. Thanks.
13. greenshootsandleaves said...
Here's one for the experts out there (no, not you, Miles): remembering that it takes three months of negative growth for a recession to be called a recession, just how short can a recovery be before a double dip has to be called a double dip?
14. estrader said...
str2007,
About a week ago I wrote the following forecast and the maket was around 1119.00 at the time which makes the turning point around the high 1130s to low 1140's. But, this is not a recommendation to go short. It is what the market was signalling at the time and now that we are around that level I need to watch for confirmation of a reversal. As always, do your own research! :)
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http://www.housepricecrash.co.uk/newsblog/2010/09/blog-unchanged-means-temporary-is-becoming-permanent-30238.php
For the record, IMO this market rally isn’t showing any signs of exhaustion yet. I would say another 10-20 point rise is easily on the cards. The banks need a great September and I think they will manage to get it. Surely all the inane ramblings by the financial TV hosts and analysts about how bad a month September usually is for stocks gave you a big clue? I could be wrong and the market could crash next week, but that is highly unlikely now that the sage of Omaha has decreed there will be no double dip in the US.
Tuesday, September 14, 2010 07:16PM
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15. Harre said...
What about the 8 million jobs that were created because of the banks lending money left right and centre?!?