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Shilling: New recession has begun

Discussion in 'Political Discussion' started by Real World, Aug 7, 2012.

  1. Real World

    Real World Moderator Staff Member

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    Let's hope this guys wrong. My worry is this historical fact:




    Aug. 3, 2012, 12:01 a.m. EDT

    Shilling: New recession has begun

    By Howard Gold

    NEW YORK (MarketWatch) — After a rocky spring, we’ve had two consecutive months of gains in the Standard & Poor’s 500 index.

    And some pros are looking for a strong fall and are hoping the Federal Reserve rides to the rescue with more “quantitative easing” at its September meeting.

    But just when you thought it was safe to get back into the market, here comes Gary Shilling to throw ice water on your hopes and dreams.

    Shilling, a perennial contrarian, said that when economists sift through all the data, they will say the next U.S. recession began in the second quarter of 2012.


    Shilling: New recession has begun - Howard Gold's No-Nonsense Investing - MarketWatch
  2. Holy Diver

    Holy Diver Rookie

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    I used to trust him, but after his videogame company failed...I stopped listening to Curt about the economy.





    (crickets)
  3. Drewski

    Drewski Rookie

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    No Jersey Selected


    Isn't that Schilling....not Shilling?
  4. Holy Diver

    Holy Diver Rookie

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    yes....

    I was joking.

    Getting back on track...

    a contrarian making predictions?

    odd.

    ten bucks says he will argue against his own point in the 2nd quarter of 2013.
    Last edited: Aug 7, 2012
  5. IllegalContact

    IllegalContact On the Roster

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    its bush's fault
  6. Holy Diver

    Holy Diver Rookie

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    you spelled Phil Gramm wrong
  7. Drewski

    Drewski Rookie

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    No Jersey Selected

    Hahaha sorry for the slow uptake. Honestly I was asking myself the same
    question orginally. Why the Eff do I care what that a$$hat thinks about the economy?

    My bad.
  8. Holy Diver

    Holy Diver Rookie

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    If he is a true contrarian, he is betting that the economy will fail...what else would he say?

    a similar link would be one that showed how Bob Kraft thinks the Jets suck, and will continue to suck. Statistics show that they only win the superbowl once every 45+ years.

    here is last year, Shilling telling us that commodities suck:

    Gary Shilling: Commodities "Show Every Sign" Of Being A Bursting Bubble - Business Insider

    Here is him telling you home prices will drop another 20%:

    Gary Shilling: House Prices Will Drop Another 20% - Business Insider



    granted, I know thuis guy knows more about the numbers than I do, but...


    grain of salt
  9. 363839

    363839 PatsFans.com Supporter PatsFans.com Supporter

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    This is surprising because I never knew the last recession ended. :confused:
  10. scout

    scout Rookie

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    #15 Jersey

    Good point. I have heard the argument that we were never in a recession, which is similar to Vietnam was never a war. The "contrarian" aspect leaves me without even a raised eyebrow.
  11. Holy Diver

    Holy Diver Rookie

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    http://www.calculatedriskblog.com/2012/08/july-employment-report-163000-jobs-83.html

    here is an interesting chart (specifically chart 3 of 3) that shows all US recessions and compares the job losses realative to peak employment. We were in a deep hole, and still are. But its trending upwards.

    whats shocking is that we are NOW at great depression levels...


    tons of other charts available: http://www.crgraphs.com/
    Last edited: Aug 7, 2012
  12. wistahpatsfan

    wistahpatsfan Rookie

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    shill- noun

    1. a person who poses as a customer in order to decoy others into participating, as at a gambling house, auction, confidence game, etc.

    2. a person who publicizes or praises something or someone for reasons of self-interest, personal profit, or friendship or loyalty.

    Shilling | Define Shilling at Dictionary.com
  13. Holy Diver

    Holy Diver Rookie

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    sChill - noun

    1. Dude who throws smoke on a torn ankle and wins championships.

    2. Dude who takes RI's taxpayer dollars to fund a failed videogame venture
  14. Real World

    Real World Moderator Staff Member

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    3. Dude who puts ketchup on his sock and gains 75 pounds after he retires.

    Wow is he fat now.
  15. Holy Diver

    Holy Diver Rookie

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    hes almost lost a million dollars for every LB he has gained!

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