Posted on 07/20/2005 12:54:47 PM PDT by Heebert
We're in for rough times, but Robertson is way out on a leftist limb with his predictions. I suspect from the language that he is using that if Kerry had been elected President and the same exact economic conditions prevailed as today, there wouldn't be much of a problem looming at all, in his judgment. ;)
And then the kicker. It's all Bush's fault. A cabal.
Yes. There is a real estate bubble in places. And yes, it will burst and hurt people. But roads will not immediately melt and crumble. Hospitals will not immediately cease to operate.
Even in the Great Depression, a lot of people had jobs, and some people even did pretty well. The poor who could farm got by. Some rich people who lost paper wealth and had nothing else and no great skills did pretty badly. People who worked in tobacco factories did fine, since unemployed people had time to smoke and somehow managed to get cigarettes. I would imagine that tobacco was not the only depression-proof business.
But yes. I agree that real estate prices have reached the point of insanity now. This includes where I live, Fredericksburg, VA. Nuts. Absolutely nuts.
Mr Doom and Gloom. Probably one of thosee yahoos who swore that on 1/1/2000 near every electronic device in the world would freeze up, planes would crash, elevators would stop between floors, nuclear missiles would launch themselves and land in neighborhoods down the street, water would turn colors, cows would go on strike, and Michael Jackson would turn white.
OK, so it seems it isn't Robertson, but the author of the article putting leftist words in his mouth. Makes more sense.
So now we've gotta start consuming more, to make up for the lazy under-consuming foreigners in slacker nations? Is that the message?
SD
Actually, never been wrong Robertson was forced out of the industry by substandard performance. He couldn't hang onto his clients. The bull/bear 1995-2003 forced out numerous managers. Robertson's was an exceptionally high profile, and especially unceremonial exodus.
Two, the old geezer might like to take a look at a first year course in international finance and a glimpse at the capital account before making foolish assertions about our spending habits.
Third, I'd like to know how much of his portfolio is short these overpriced assts.
What a moron.
20 million move ins will create a HUGE need for movers and remodeling people - sounds like a jobs program. I bet these cry babies are the same ones that bet on Jimmy "the motorcycle guru" and lost their shirts in commidities and the markets. These never wrong guys are people. They are part of the same industry that traded stock after hours and played pump and dump games.
"People will be carrying around U.S. dollars in wheelbarrows like Germany," he said.
Naw. Most of us use bank cards now.
More likely that the hedge fund manager was hedging the wrong way lol.
So much irony, so little time... Mr. Never Been Wrong, is the former head of Tiger Management because he made the wrong investments and he had to liquidate the company.
Had that line been the first line we could have been spared reading this tripe. He has all his basic facts wrong, and it would appear he knows they are wrong. The economy is on the upswing and it has nothing to do with property. Further, consumption is RISING in most countries, not falling.
yah,that 8 year break in the action was all free fluffy bunnies for all...what a crack pot.
"Naw. Most of us use bank cards now."
We'll be carrying bank cards around in wheelbarrows.
Tobacco farming along with the great success of the boardgame Monopoly produced by Parker Brothers.
That is completely silly. Another manager trying to get attention. Cavutto would love him! No substance, just babble.
The bubble is a classic Cavutto botch. Fannie Mae, Freddie Mac and numberous economists have studied housing markets and bubbles for years. Who does Cavutto have on his show? Hysterical fund managers who know nothing about real estate or housing (talk about Hubris!).
I live in Loudoun County and it has been insane for years. We decided to stay in our current house and not "move up" just because I don't trust the market.
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