9 really wrong economic predictions

Every week on Wall Street, experts and gurus try to fire up investors with predictions of economic doom or unprecedented prosperity. Keep these examples in mind, because even the best are often spectacularly wrong.

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140Comments
Jun 6, 2013 7:33PM
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Give it time! When the Fed stops dumping 85 billion into bonds it'll drop like a rock. A one ton rock!
Jun 8, 2013 10:01AM
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Let's not forget Barny Frank and his statements about Freddie and Fannie Mac being in fine shape three months before the crash.
Jun 7, 2013 2:45AM
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What about Fleckenstein telling us to BUY GOLD and short the market 1000 points ago? Where is he now?? What about Mirhaydari telling us for the last 16 months to buy gold and short the market? Where is he now after another 80 point rise? What about Jubak who keeps giving us stock picks that lose money? You should include all three of these guys as worst predictors of stock market direction in human history and give them an award like several of Jim Cramer's books. It's hard to believe that one simple employment report on the morning of Friday, June 7, 2013 will determine the direction of our stock market when the real obstacle to growth has been the U.S. Congress. 
Jun 7, 2013 12:25AM
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If the Fed isn't the one controlling the markets, then why do they hang on every word Bernanke and Company utters.  The fact that the markets do react so forcefully to the Fed, and the money (or the potential withdrawal of it) they have been printing out of thin air for the last four years, shows what is really driving the markets.

 

Take away the Fed money and you'll see what the real level of the markets should be.  I guarantee you it won't be 15K.  It may not even be 10K

Jun 6, 2013 8:12PM
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If the Dow reaches 36K in 2017 it will be because the value of the dollar will have been eroded by the massive amount of them that are currently being printed. An average car will be $100K, houses won't be had fro less than $1M. What good will the paper investment do you then?
Jun 11, 2013 10:15PM
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here's my predicition ...the market will go up and down like it always has for the last 200+ years

Jun 7, 2013 8:29AM
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Those who have very little, have very little to lose. They will be the real winners of this.
Jun 6, 2013 7:48PM
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Charlie... isn't lampooning a financial crisis pretty ignorant? Bernanke has infused trillions to keep this dead cat pumped and his banks have created more derivatives and complex instruments with it than ever in history. Anyone who predicts failure is the sure winner because you can't print an economy or exclude 90% of the world if you try to. You know what you get when everyone is wealthy? The bill for it. Aged wealth assumes the future will figure it out. Best to crash it now, indenture them for the damage done and put all focus on a new economy they aren't invited to be in. Bet it happens whether you want it to or not.
Jun 11, 2013 10:33PM
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The sad truth is the market will crash. The more money pumped into it the worse it'll be when it all comes falling down. No one can deny Bernanke's money faucet is what's keeping stocks rising. Anyone that does clearly hasn't been paying attention to Wall Street's response every time the Fed even considers easing back on the QE (Easy Money) plan. Unemployment claims are falling. Unemployment is not. In fact the number of Jobs added per month doesn't break even with the number of Jobs being lost on the same time period. Those who have given up on the Job market are NOT counted in Unemployment numbers. This is particularly important because the 'initial' crash of 2008 saw hundreds of thousands of jobs lost. Most of these have not been replaced 5 years later.

 

If you want to stick your head in the sand and try to convince yourself that the Stock Market is up because the Economy is good then go for it. But we all know the truth. The Stock Market is so far disconnected from reality, at this point, that those claiming to be making so much profit from it are going to suffer Shell-Shock when it comes down. The Fed cannot and will not be able to prop up the markets forever. As prices skyrocket on all goods the people who are in the real world will continue to suffer. And when the market crashes, in a stroke of cruel irony, they'll be thrown head first into the deepest parts of the Depression while the CEOs, Stock Traders and Bankers will see a catastrophic loss of wealth (I said wealth, not money. There will be plenty of money. But it'll worth less than it is now).

 

The sad part of all this, perhaps the MOST depressing scenario, will be that people will again blame Bush or Obama not realizing this problem required two to play. This is a problem of greed.

Jun 7, 2013 8:41AM
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How can anyone be exactly right about anything when the Global FEDS are printing more to adjust to any current predictions. Greenspan did say one thing right this morning, the Global FEDS are potentially setting a Trap from which they might not be able to escape from.

This has been the best Market a Trader could ever ask for but it might become the worst Market Perma-Bulls might ever see.

This is more about how Markets are being Manipulated to avoid what should be accurate predictions. This is more about how the final fallout will likely be worse than the actually disease.

Jun 7, 2013 9:44AM
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That's another problem of today's society, folks want a 5 second Cure for a Decades old Problem. That's why we keep having the same problems, over and over again. The problems just keep getting bigger.
Jun 7, 2013 10:05AM
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So there you have it. It’s not about getting it right. It’s sales support. It’s about motivating you to buy a book, or a stock, or a fund, or make a trade, any trade, just do something that makes a broker, professional trader, or salesperson a profit.

 

And, the really best part about being an economic forecaster isn’t the few occasions when you actually are right. The best part is that no one seems to care when you are proven wrong.

Jun 12, 2013 3:00AM
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The Obama & Progressive claim of some kind of economic recovery in 2009 should be #1 on the list real soon. Like when the Federal Reserve stops printing out of thin air 85 Billion a month to artificially prop up the market.

Barry Boy, and all you Libbo-tards who voted for the Marxist own it all now. Your going to pay a heavy price in the coming 2014 & 2016 elections and I cannot wait to hear all the thin skin liberals sniveling!

Jun 7, 2013 9:28AM
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They forgot global warming and peak oil. 
Jun 6, 2013 8:08PM
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The first one is repeated hundreds of times, every day, right in these same comments sections.  Being wrong doesn't change anyone's opinion or predictions, they just come up with reasons why what they said would happen "should" have happened.

Jun 6, 2013 10:42PM
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A most entertaining article. Cheers!
Jun 7, 2013 6:41AM
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I can picture this goofy, liberal reporter rising from his knees, wiping the j_izz off his chin, and telling Owebama how much he loves him.  lol
Jun 7, 2013 12:04AM
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anybody want to believe this is all directed by those that would see a one world order the puppet masters we should call them and  the  politicians the puppets and the citizens the audience
Jun 12, 2013 7:39AM
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And yet no mention of the "Summer of Recovery".  LMFAO!!  Only on good ole, liberal MSNBC would they ignore that ridiculous prediction.  LOL!
Jun 12, 2013 10:07AM
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LOL.. Experts?? Yea right. I listened to experts last 5 years and what do I have to show for it? Correct - Nothing !!

The economy and Real Estate is primed for another Big TIme LOSS.

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