Nancy pelosi's fault
He wrote a similar article last week.
Did you see this one?
http://www.townhall.com/Columnists/LawrenceKudlow/2006/12/02/debunking_krugman%e2%80%99s_recession
My 401k just recorded its biggest one month gain in the past 25 years. Gimme some more of that pain.
It gets better before it gets worse.
"Ambrose Evans-Pritchard"
A name I have not seen around much (over here, at least)since the Vince Foster days.
Economists have predicted 7 of the last 3 recessions.
Fools, all.
America is the largest and most successful free enterprise system in the world. We can take hits. Hits are just cycles. Ups and downs are good. The soil must be tilled in the free enterprise system to stay strong and healthy.
When we cease to have cycles... we'll either be Socialists, or Communists.
Lumber markets are a leading indicator in any recession. They started sliding downward about four/five months ago. The inverse is also true. When lumber rises, the economy will follow. Watch for it.
ping
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." -Manuel II Paleologus
Nope, don't believe it. Economy and market will rocket to new highs.
I think that the recession will occur on April 17 2007 at 2:12 PM. See, everyone can make stupid predictions like the author of the article.
bump
bump
Good, pessimism helps the market go higher. Keep talking Ambrose, my investment accounts are on fire right now!
Now while Ambrose Evans-Pritchard is most often writing solid general media articles on finance, when his articles' bullet points coincide with Krugman whilst he's strewing about the gutter, this is a disturbing turn of events.
I just attended a conference in NYC on these very subjects, and the largest companies on the Real Estate side, both residential and commercial, said exactly the same bullet points.
Only point I have to make is that executives who are doing inside stock sales are the most likely class of worker to retire fully by their mid 50's, and as we as a country prepare for their baby boomer retirement as a whole, the top 2% are already retiring, hence the 60:1 inside sales ratio at the moment.
It has never been true, it is never going to be true, it wasn't even true in the 1930s. But like a dog with a bone, they will never ever give it up. Unemployment is at record lows for a generation, wealth and income are at record highs forever, the economy has run through every predicted crash trigger without more than a murmur, and corporate profits continue to set record after record.
They will still predict doom continually on the off chance that one quarter or two they might be right, then they will scream "see I told you so, give all power to me or we are all gonna die!" and the economy will shrug gently in sovereign contempt and resume its ordinary 3% growth trajectory.
Short of nuclear war, nothing is going to stop the American economy. It will bury this lot like it buried the last ten. It has run roughshod over egregious economic mistakes, ridiculously profligate government spending, world war, civil war, mercantilist fads, super protection and unbridled free trade, tight money, loose money, you name it. And taken us from 3 million poor farmers at the edge of a howling wilderness, to 300 million of the richest hedonist profligates the world has ever seen.
It will continue to do so. And socialists everywhere will remain deeply saddened, bitter, fearful, and wrong.
"Let's get Hillary elected" - by the UK press