Bernanke: recession could end in '09

Discussion in 'Economy' started by DavidS, Mar 15, 2009.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    Bernanke: recession could end in '09

    WASHINGTON – America's recession "probably" will end this year if the government succeeds in bolstering the banking system, Federal Reserve Chairman Ben Bernanke said Sunday in a rare television interview.
    In carefully hedged remarks in a taped interview with CBS' "60 Minutes," Bernanke seemed to express a bit more optimism that this could be done.
    Still, Bernanke stressed — as he did to Congress last month — that the prospects for the recession ending this year and a recovery taking root next year hinge on a difficult task: getting banks to lend more freely again and getting the financial markets to work more normally.
    "We've seen some progress in the financial markets, absolutely," Bernanke said. "But until we get that stabilized and working normally, we're not going to see recovery.
     
    Last edited: Mar 15, 2009
  2. dilloduck
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    dilloduck Diamond Member

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    Is "things might get better" even worth reporting ?
     
  3. wimpy77
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    wimpy77 Member

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    i dont see why the people on cnbc were so worried about him doing an interview. he didn't say anything he hadn't already said. yes this thing could end this year its just that thing have to be done to make that happen.
     
  4. Toro
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    Yes.

    People are extremely negative and pessimistic right now.
     
  5. elvis
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    elvis BANNED Supporting Member

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    it's amazing how the market reacts to the statement of one person.
     
  6. Toro
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    Yes, it is.

    If the recession/depression does end this year, stocks will rise by 50% or so.

    Of course, it could also go straight down from here.
     
  7. DavidS
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    DavidS Anti-Tea Party Member

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    Yes, because you bet on speculation the market is going into a recession and you also bet on speculation that the market is going to rebound next year.
     
  8. DavidS
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    DavidS Anti-Tea Party Member

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    Doubt it. The market should return to its resting place in the 8000s by April. I think this is going to be a big rallying week. I think right now is the BEST week to bet on the stock market in 12 years. Bank stocks that are backed by the federal government are CHEAP. I also would bet on tech stocks, stem cell biotech stocks, Ford, green energy stocks (not Natgas) and construction stocks since the housing market will re-boot soon. Oil hit bottom a while ago and I think oil has nowhere to go but up. Also, I think it's time to move OUT OF gold if the economy is going to rebound soon.

    God, I wish I had a million dollars right now. I would go full energy into this market. I would do 50% long term, 50% day-trade. Even during the worst of the worst of this market, if you would've put $10K in Citi a week and a half ago at .98 and $10K in MS back in November/December, you would've made double your return. It's not hard to find the little nooks that are cheap as hell right now that will only go higher.

    I'm bullish on the market right now.
     
    Last edited: Mar 15, 2009
  9. dilloduck
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    dilloduck Diamond Member

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    in other words. A big shot says " anything can happen " and people think that he issued marching orders ? Do you realize how insane that is? Y'all may as well go to Vegas and stick it all on black--or red. :lol:
     
  10. Toro
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    David

    The market will not be a resting place from these levels. It is either going up much higher or going down much lower, but it is not stopping here. That is not how these events work. They do not just rest. Stocks are dirt cheap and violently oversold. If the economy falls apart, then it is going significantly lower. If the economy is not falling apart, it is going significantly higher.

    If you believe the market is going to stay around these levels, write put-call spreads and collect the premiums. I would highly recommend you not do that though.
     

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