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Why this recession won’t be that severe
If I’m wrong, though, the battle will indeed have a bad ending
I’ve been very accurate in my ‘big picture’ forecasts over the years. Nine years ago, in 1999, I wrote a book Riding the Bear – How to Prosper in the Coming Bear Market. In it I said the market was in a bubble similar to that of 1929, and the worst bear market since that of 1929-32 was just around the corner. I was told that was ‘dinosaur-thinking’. The popular book of the time was Dow 36,000. But, a few months later the severe 2000-2002 bear market began,…
The U.S. Recession Will Be Painful, But it Could’ve Been Lots Worse
The U.S. economy is entering a recession. With each day that passes and each indicator we see, that eventuality becomes more and more clear.
Even so, we can take some real comfort in knowing that we’re likely going to avoid the “bottomless pit” of a Great Depression II. A substantial recession with accompanying inflation – roughly along the lines of the downturns of 1974 and 1980-82 – seems the most likely scenario we face.
The last two U.S. recessions – the 1990-91 downturn touched off by Saddam Hussein’s invasion of Kuwait and the subsequent recession in 2001 – were both short and…
22Oct2008 | Money Morning | Comments Off | ContinuedU.S. Heading for a Recession? Maybe It’s Time to Get Your Financial House in Order…
A recent study done by CNN Money indicates that only 19 percent of the 1,000 Americans polled believe that the nation will avoid a recession in 2008. What is more telling is how this collective fear is beginning to mold the financial behaviors of people across the nation.
One of the many questions asked in this survey stated the following:
In the past 12 months, have you been spending about as much as you did before on most things, spending more, or cutting back on your spending compared to twelve months ago?
As you can see, 48 percent of those who took the…
21Jan2008 | S. Oakes | Comments Off | Continued
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