Wall street seems to disagree with Toppy

uscitizen

uscitizen

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Wall Street slides on GDP, jobless data

Jul 31, 5:55 PM (ET)

By TIM PARADIS

NEW YORK (AP) - Wall Street sank Thursday, after weak readings on economic growth and the job market touched off renewed concerns about the financial health of businesses and consumers. The Dow Jones industrial average fell more than 200 points.

The Commerce Department's report that gross domestic product grew at a 1.9 percent pace in the second quarter disappointed investors. Economists polled by Thomson Financial/IFR had expected growth of 2.4 percent in the broad measure of the economy's health.
~
But Wall Street could not shake off its worries about the economy - particularly after sobering remarks from Former Federal Reserve Chairman Alan Greenspan on CNBC late in the afternoon. Greenspan said he would be more surprised if the United States did not enter recession than if it did.

http://apnews.myway.com/article/20080731/D9293B6O3.html
 
yes but you and your fellow GED'rs thought we would contract when in fact we expanded by billions.
 
"you and your fellow GED'rs thought we would contract "

Greenspan is a GED?

Man; talk about your overachiever...
 
Greenspan has altzhiemers
I know you don't like facts oncelor, but your still wrong on your recession call
 
Topspin said:
Greenspan has altzhiemers
I know you don't like facts oncelor, but your still wrong on your recession call
Click to expand...

You always put words in my mouth. I have such a small amount of time for your idiocy.

My position has always been that the economy of the past 5-7 years has been propped up by an overinflated housing market and overdrawn credit, and that the fundamentals sucked. Guess what? The fundamentals STILL suck, and there is not a lot of optimism out there today, among the populace, Wall Street or economists.

Your position has been that people are fat & happy, and restaurants are full.

I think we know who is "right" and who is "wrong." You've had blinders in, and it's all coming home to roost right now. I hope you're taking a beating in the market, because you deserve it.
 
I think we know your a used software salesman and should not try to discuss economics with the real investors/business educated people.
You can crawfish all you want. You sided with USGED practically guaranted a recession for 3 yrs and it still hasn't happened.
I didn't say things were great, I said the sky is not falling and malls are still full and traffic is still there. Which is all true.
 
Mark this down. We will eventually go into recession.
News flash, it's called the business cycle.
 
sure you said that two years ago and we had a 6% quarter and a 4% quarter.
Your stuck in the 70's granpaw
 
In a way we have been in a recession since 2000. We never really recovered. Wage earners that is. those playing the market and such did well, but the Average American has pretty much been in a recession for years. Just keeping going with personal debt, using equity like credit cards, etc.

You are so hung up on the technicalities of a recession. How neoconservative of you.
You will be right back in the neo fold if it ever becomes fashionable again.
 
usged tool, smart people like me and you have done great since 2000.
What you fail miserabley at is believing every freaking talking point the dems have.
the lower class and middle class have not kept pace with globalization AND WON'T WITH OBAMA. This GM paying 80,000 to snap on parts and 25,000 for healthcare vs $3,000 a year in China is beyond your comprehension level.
 
Not beyond mine. I have ALWAYS SAID globalization will lower our standard of living and raise other countries. It is the inevitable outcome for the forseeable future.

Seems like you called me a gerbil GED or somesuch for saying that.
 
I never use gerbil that would be insulting.
GED is your level of understanding of economics.
Globalization has vastly inporved our standard of living.
Maybe its mostly going to the top 40% but that's millions of people
 
maybe it is going to be the top 10-15%

Too much finiancial inequality in a coutnry always creates instability.
Or a fascist police state as a temporary stopgap.
 
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