Comments on: NBR: Green Shoots Give Hope But…

By: Deeply Oversold Bounce, Not Green Shoots | The Big Picture

Deeply Oversold Bounce, Not Green Shoots | The Big Picture — Mon, 06 Jul 2009 11:26:39 +0000

[...] case in point is the absurdly foolish Green Shoots compost. As we have detailed since this nonsense first started spreading earlier this year, the data simply did not support the [...]

By: Winston Munn

Winston Munn — Sat, 20 Jun 2009 14:19:20 +0000

“Our gullible, thumb-sucking, glass-is-half-full financial media, egged on by Wall Street pumpers and touts, yet again completely misses the story.”

I would amend this statement to:

Our gullible, thumb-sucking, don’t-report-just-write-what-we-tell-you-to-mainstream-media….

The real reporting done is by the MOLRs (Media Of Last Resort, i.e., blogs.)

By: some_guy_in_a_cube

some_guy_in_a_cube — Sat, 20 Jun 2009 13:42:26 +0000

Our gullible, thumb-sucking, glass-is-half-full financial media, egged on by Wall Street pumpers and touts, yet again completely misses the story.

Massive wealth and credit destruction is well underway. It will take many years. perhaps decades, for its effects to finally wane.

By: Winston Munn

Winston Munn — Sat, 20 Jun 2009 13:37:33 +0000

Sung to the tune of “Who’s gonna buy this diamond ring?”

Who’s gonna buy all this junky debt?
Our GDP’s in the hole, lest anyone forget

This pile of debt doesn’t buy what it did before
and securitizing debt doesn’t fly like it did before
So if your heart is set on that new car
better bust open the penny jar

By: harold hecuba

harold hecuba — Sat, 20 Jun 2009 12:18:35 +0000

we will be in and barely out of recessions for years until this cycle runs it’s course and from what the solutions proposed by the completely unproductive incompetent gov i’d say they don’t recognize the problem whatsoever. bottom line there is too much debt that must be payed bck or destroyed and funny thing is this process has not EVEN BEGUN LOL> furthermore tax revenue across stae local and fed gov is plummetting. excess capacity around the GLOBE IS COMPLETELY OBSCENE especially in china which is another bubble. there are no driver for jobs and there will be no recovery in housing until 2013-2014. good luck

By: Bruce in Tn

Bruce in Tn — Sat, 20 Jun 2009 12:07:36 +0000

Green shoots?

Fighting two wars…check
Missle defense around Hawaii…check

http://www.foxnews.com/politics/2009/06/19/deploys-missile-defense-hawaii/

Higher unemployment (yesterday in 48/50 states)…check

http://www.bls.gov/news.release/laus.nr0.htm

Alt-A hasn’t really started yet…check

34% less national tax revenues 2009 c/w 2008…check

continuing claims decreases due to exhaustion of longest affected workers…check

Massively costly health care plan on the horizon… check

Tuition costs up…in my state an average of 8% for 2010…check

gasoline costs rising again…check

Bailout of Kalifornia due…check

state tax revenues down severely…check

GM bankruptcy…check

Zombie banks…check

Cash for clunkers for Mr. Taxpayer…check

Mortgage subsidies for Mr. Taxpayer…check

The only thing expanding this year will be the number of zeros on the checks we write to Uncle Stupid.

By: aitrader

aitrader — Sat, 20 Jun 2009 06:56:10 +0000

So these green shoots are the slower growing type and won’t ripen until H1 2010?

How can folks see that far ahead from current data and second derivatives?

My dart throwing chimpanzee here claims it’s going to be H2 2010. He seems quite insistent and confident in this. No, wait…now he says it’s going to be H1 2011. He’s jumping up and down and throwing bananas at me. I’ll take that as a firm H1 2011. No, wait….looks now it looks like H2 2009…no, wait….

By: Onlooker from Troy

Onlooker from Troy — Sat, 20 Jun 2009 00:12:28 +0000

SAM STOVALL, CHIEF INVEST. STRATEGIST, STANDARD & POOR’S: Our view is the equity markets are foreshadowing an end to the recession…

Good grief, really? The old myth about the stock market predicting the recovery? Clearly investors guess several times during a recession/bear market and get all excited about a recovery based on the thin evidence of something positive. Most of those turn into bear market rallies and eventually the market “gets it right” and the start of a new bull market comes from that last rally.

Why is that so hard to understand amongst supposed experts like this “chief investment strategist”? I guess they have to prop up the myth of the all knowing market to help justify their existence and their pathetic forecasts.

By: truthseeker

truthseeker — Fri, 19 Jun 2009 23:55:20 +0000

I loved BRs “oly oly oxen free” part of his response regarding the time after the end of the recession. (And, I fondly remember the game associated with it from my New York childhood.) But, non-New Yorkers may not have played that kid’s game.

By: Pat G.

Pat G. — Fri, 19 Jun 2009 22:10:56 +0000

@ ahab — “the music has to stop sometime”

Perhaps, but it’s still playing. Consumers were lined up at CA Best Buys as early as Wednesday to buy the latest, must have new gadget today — the new I-Phone. There were 500K pre-sales. Until the mindset in this country changes, nothing stops. Here’s my question; if you have a cell phone and it performs the basic functions that one is supposed to well enough, why do you need a new one? I guess so that you can call up your friends and boast about your achievement. Pitiful….