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Manonthestreet

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:rolleyes:
There was a sub prime problem the day the Clinton admin and Congress started passing "Homes for Everyone". It just took till 2003 before it could no longer be hidden.
More lies & denial from you covering for your party!

There was nothing to hide until 2003! Only 2% of loans were made to barely subprime borrowers until then & less than 1% of them defaulted. Then along came Bush & the Repubtards who changed the scheme handing out down payments for mortgages to 10's of thousands of irresponsible idiots who couldn't afford the home.
Then along came Bush & the Repubtards who changed the scheme handing out down payments for mortgages to 10's of thousands of irresponsible idiots who couldn't afford the home.

Tens of thousands? That's hardly the difference between 2% subprime and 14% subprime.

Your theory needs a little work.
Bush's government down payments created a sudden 22,000+ annual increase in housing demand & price that got everyone drinking the Kool-Aid. Bankers & investors now saw the house as a value increasing asset backing the loan instead of focusing on the debt quality of the borrower, so they jumped into subprime lending. Bush's 2003 skyrocketing 700% increase in subprime lending it the proof! Again unsustainable Republican government market manipulation created an enormous feeding frenzy home loan bubble!
Bush's government down payments created a sudden 22,000+ annual increase in housing demand

22,000 out of how many?
There are more empty houses today that ever before.
It is estimated there are 30% more vacant homes in America now then before 2008
And Condos and apts are going up all over.....makes ya go ...hhhmmmmmm
 

ChemEngineer

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And Condos and apts are going up all over.....makes ya go ...hhhmmmmmm
Not so much. There are hundreds of abandoned houses in Detroit that nobody wants.
Idiot politicians don't want to demolish them because they're on the tax rolls, even if nobody is paying taxes on them. But hey, vote Democrat!

"Poor people have been voting Democrat for fifty years and they're still poor." - Sir Charles Barkley
 

P F Tinmore

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More lies & denial from you covering for your party!

There was nothing to hide until 2003! Only 2% of loans were made to barely subprime borrowers until then & less than 1% of them defaulted. Then along came Bush & the Repubtards who changed the scheme handing out down payments for mortgages to 10's of thousands of irresponsible idiots who couldn't afford the home.
Then along came Bush & the Repubtards who changed the scheme handing out down payments for mortgages to 10's of thousands of irresponsible idiots who couldn't afford the home.

Tens of thousands? That's hardly the difference between 2% subprime and 14% subprime.

Your theory needs a little work.
Bush's government down payments created a sudden 22,000+ annual increase in housing demand & price that got everyone drinking the Kool-Aid. Bankers & investors now saw the house as a value increasing asset backing the loan instead of focusing on the debt quality of the borrower, so they jumped into subprime lending. Bush's 2003 skyrocketing 700% increase in subprime lending it the proof! Again unsustainable Republican government market manipulation created an enormous feeding frenzy home loan bubble!
Bush's government down payments created a sudden 22,000+ annual increase in housing demand

22,000 out of how many?
There are more empty houses today that ever before.
It is estimated there are 30% more vacant homes in America now then before 2008
And Condos and apts are going up all over.....makes ya go ...hhhmmmmmm
I have heard that there are more empty luxury apartments in NYC than there are homeless people.

Who is driving this bus?
 

Toddsterpatriot

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Then along came Bush & the Repubtards who changed the scheme handing out down payments for mortgages to 10's of thousands of irresponsible idiots who couldn't afford the home.

Tens of thousands? That's hardly the difference between 2% subprime and 14% subprime.

Your theory needs a little work.
Bush's government down payments created a sudden 22,000+ annual increase in housing demand & price that got everyone drinking the Kool-Aid. Bankers & investors now saw the house as a value increasing asset backing the loan instead of focusing on the debt quality of the borrower, so they jumped into subprime lending. Bush's 2003 skyrocketing 700% increase in subprime lending it the proof! Again unsustainable Republican government market manipulation created an enormous feeding frenzy home loan bubble!
Bush's government down payments created a sudden 22,000+ annual increase in housing demand

22,000 out of how many?
There are more empty houses today that ever before.
It is estimated there are 30% more vacant homes in America now then before 2008
And Condos and apts are going up all over.....makes ya go ...hhhmmmmmm
I have heard that there are more empty luxury apartments in NYC than there are homeless people.

Who is driving this bus?
The basics of warehousing

David Kalbfeld, vice president and account manager with Halstead Management Company, says that the phenomenon of landlords sitting on vacant apartments—a practice known as "warehousing"—typically occurs when they find it would be more lucrative to convert their rental building to condos or co-ops. "They don't want to keep the apartments empty, but at the end of the day, they'd rather sell than rent," he explains.

In other cases, landlords may earn so much income from a retail tenant that they don't actually need to rent other units—and deal with the costs of maintaining them. Back in 2011, for instance, the New York Times wrote that even in the midst of rapid gentrification in Harlem, some landlords there were leaving residences in their mixed-use buildings empty, as they were collecting sufficient rent from ground-floor commercial tenants; a local architect told the Times these landlords didn't want the "hassle" of renting to residential tenants.

Last fall, DNAInfo reported one an example of warehousing that generated controversy uptown. The owners of 78 Thayer Street, an Inwood building of 62 prewar rentals, were accused of letting almost half the units remain vacant because they wanted to convert the property into a co-op.

The building is rent-stabilized, according to the Rent Guidelines Board's list of such properties, which means the owners could stand to earn far more from selling the units as co-ops than from renting them below the market rate, even if that entailed letting the apartments languish for a while first.

Why do some NYC landlords leave apartments empty?
 

Manonthestreet

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And Condos and apts are going up all over.....makes ya go ...hhhmmmmmm
Not so much. There are hundreds of abandoned houses in Detroit that nobody wants.
Idiot politicians don't want to demolish them because they're on the tax rolls, even if nobody is paying taxes on them. But hey, vote Democrat!

"Poor people have been voting Democrat for fifty years and they're still poor." - Sir Charles Barkley
Here they are..….everywhere...around my house, around my job....around my zone of operation.....all upsale
 

Zorro!

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Recession indicator with perfect track record flashing red

What will be the fix this time?
Bush/Obama admin spent over a $trillion bailing out the central banks, investment groups and $billionaires that resulted in the widest earnings gap in American history and rocketed stock prices beyond absurd.

That was never going to fix the problem of an entire economic industry dependent on ever rising stock values despite reality.

Will the FEDS and Trump do the same as Obama/Bush bail out the super corporations/investment banks to maintain the gross over valuation?
So, how's that "perfect" recession indicator doing?

Don't need a couple negative quarters to have even a mild recession? So far we ZERO negative quarters under Trump, not even ONE in row!

Trump saved the world



Paul Krugman -- Nobel Prize-winning economist, retired Princeton professor, New York Times columnist, and village idiot -- was not alone in predicting a worldwide recession upon the election of Donald John Trump as president.

3 days after we made Donald John Trump president, Business Insider reported, "One of Trump's major economic policies could lead to a 'global recession.'"

That one policy was the keystone to his economic plan: engaging the trade wars.

Business Insider said,

"If Trump were to pursue these policies, Willem Buiter, chief economist at Citi, wrote in a note to clients that it might spark a global trade war, 'which could easily trigger a global recession.'"​

The story said researchers at Deutsche Bank warned, "The biggest threat to growth is a possible protectionist turn, which could depress global trade and even trigger trade wars."

And Buiter said, "We stress the potential multipliers of changes in the US position on international trade: the US has been the champion of free trade and open borders for decades. A retreat from globalization by the U.S. would likely lead to reciprocal actions from other countries, and reinforce the latest shift towards de-globalization and could be another nail in the coffin of the liberal global economic world order that has supported prosperity since 1948."

This hysterical argument against President Trump's America First policies continued throughout this year. CNBC reported on May 20, 2019, "More tit-for-tat tariffs in the U.S.-China trade war could set the global economy up for a recession, according to Morgan Stanley.

"'If talks stall, no deal is agreed upon and the U.S. imposes 25% tariffs on the remaining $300 billion of imports from China, we see the global economy heading towards recession,' Chetan Ahya, Morgan Stanley’s chief economist and global head of economics, said in a note Monday."​

On August 12, 2019, NBC reported, "President Donald Trump's trade war with China is increasing the odds that America will be thrown into a recession, according to investment bank Goldman Sachs."

But once again, the experts were wrong.

President Trump did not kill the world economy. In fact, the opposite happened.

CNBC reported, "Global stock markets have been on a torrid run in 2019, adding more than $17 trillion in total value, according to Deutsche Bank calculations.

"The value of global equities began the year just under $70 trillion but has now surpassed $85 trillion, according to a chart from Deutsche Bank’s Torsten Slok."​

That is a 25% increase, which means 2019 was a pretty good year for investors and the global economy.

The story said, "The large climb for world markets has been largely dominated by the U.S. markets, however. The rally in the U.S. has been broad, with the S&P 500, Dow Jones Industrial Average and Russell 2000 all rising more than 20% this year."

Enjoy because the good times will not last forever. They never do.
 

Zorro!

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I'm still calling a 50% correction. I sincerely hope everyone is ready for it.
Just talking to myself here. Again.

So, uh....did everyone prepare?
Uhhh.... My clever diversification plans looked better before they all went over the same cliff. But, yes I do have a portion in much safer places with the idea that if we saw another floor like the last couple crashes we've had since the turn of the century, that this time I'd have some chips to shove in at the bottom.

But, bonds getting hammered at the same time as stocks has been an unwelcome surprise, again!

How about you?
 

KissMy

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With Trump's stupid zero interest and negative interest rate plan, it will pay to borrow money to buy property to sit on as prices rise. Same way his corporate tax cut gave money to business to buy back stock to drive up their prices. Little of the money goes to building new manufacturing here in the USA. Prices will rise regardless of demand.
 

Pavel Svinchnik

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I'm still calling a 50% correction. I sincerely hope everyone is ready for it.
Just talking to myself here. Again.

So, uh....did everyone prepare?
I had about 20% of my self-managed equity investment funds in cash a few weeks ago. I was doing OK buying on the big dips and selling the next day on the rebound, occasionally buying small portions of stocks that I'd been watching for a while as loner term investments, but I'm pretty much out of dry powder in the investment funds as of 3/22/2020. The futures are predicting another big dip tomorrow, Monday, 3/23. I do have funds in short-term treasuries that I could pull out to buy stock but I'll just watch the market for a while to see what happens before I make any drastic moves.
 

Toddsterpatriot

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I'm still calling a 50% correction. I sincerely hope everyone is ready for it.
Just talking to myself here. Again.

So, uh....did everyone prepare?
I had about 20% of my self-managed equity investment funds in cash a few weeks ago. I was doing OK buying on the big dips and selling the next day on the rebound, occasionally buying small portions of stocks that I'd been watching for a while as loner term investments, but I'm pretty much out of dry powder in the investment funds as of 3/22/2020. The futures are predicting another big dip tomorrow, Monday, 3/23. I do have funds in short-term treasuries that I could pull out to buy stock but I'll just watch the market for a while to see what happens before I make any drastic moves.
The futures are predicting another big dip tomorrow, Monday, 3/23.

Which futures?
 

Pavel Svinchnik

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I'm still calling a 50% correction. I sincerely hope everyone is ready for it.
Just talking to myself here. Again.

So, uh....did everyone prepare?
I had about 20% of my self-managed equity investment funds in cash a few weeks ago. I was doing OK buying on the big dips and selling the next day on the rebound, occasionally buying small portions of stocks that I'd been watching for a while as loner term investments, but I'm pretty much out of dry powder in the investment funds as of 3/22/2020. The futures are predicting another big dip tomorrow, Monday, 3/23. I do have funds in short-term treasuries that I could pull out to buy stock but I'll just watch the market for a while to see what happens before I make any drastic moves.
The futures are predicting another big dip tomorrow, Monday, 3/23.

Which futures?
The DJIA, S&P, and NASDAQ futures showing on Bloomberg are all down about 4% but those numbers are from the Friday close. We'll have to see what happens when the futures market opens again at 6:00 Sunday afternoon.
 

KissMy

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$6 Trillions of stimulus to shore up Trump's failed economy! $4 Trillion from Fed & $2 Trillion from congress. That is theft worse than communism!!!
 

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