[FoRK] US recession? How about a global Depression?

Eugen Leitl <eugen at leitl.org> on Sat Sep 15 13:16:58 PDT 2007

On Sat, Sep 15, 2007 at 01:44:55PM -0600, Sat N wrote:

> Actually charts tell less of a convincing story than prediction

Looking at a few scalars isn't going to tell you a lot. Rather, look
at the mechanics which produces those scalars. Which would require
looking at a great many of charts, and none of them raw stock.

> markets. In this case, the stock market is accurately predicting that

I'm not talking about a recession. These are a dime a dozen.
I'm talking about a depression, possibly a Depression.

> there won't be a recession. Wisdom of crowds is far better than wisdom

The stock market is run by throngs of greedy morons and a couple of 
smart folks (which make money of the greedy morons). 
The stock market has never predicted any crash, by definition.

> of economists and pundits.

I'm unfamiliar with that wisdom of crowds thing. I'm thoroughly familiar
with the idiocy of crowds, though.

On the minus side, I found out the guys who issue my paycheck get
their money from 3/4th US$. Oops, time to switch jobs, fast. If
there's still time, which is doubtful. 

Eugen* Leitl <a href="http://leitl.org">leitl</a> http://leitl.org
ICBM: 48.07100, 11.36820 http://www.ativel.com http://postbiota.org
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