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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"I will cut the deficit in half"
"I will have a transparent administration"
"I will make healthcare affordable for every American"
"I will finally unite the house and senate for the American people"
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
here's my predicition ...the market will go up and down like it always has for the last 200+ years
The U.S. motto "In God we trust" is going to have to be replaced with:
"STUPID IS AS STUPID DOES" !!!!!!!!!!!!!!!!!!!!!!
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.
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.
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.
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!
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.
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[BRIEFING.COM] The stock market ended the holiday-shortened week on a mixed note as the Dow Jones Industrial Average shed 0.1%, while the S&P 500 added 0.1% with seven sectors posting gains.
Equity indices faced an uphill climb from the opening bell after disappointing quarterly results from Google (GOOG 536.10, -20.44) and IBM (IBM 190.04, -6.36) weighed on the early sentiment. Google reported earnings $0.15 below the Capital IQ consensus estimate on revenue of $15.42 ... More
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