June Stock Market Discussion

date of it in print

Probably apocryphal anyway...

Does anyone here know any mainstream or not so mainstream economist who called the blow up of the housing and credit markets?

 I completely pissed off a friend of mine who is an economist, by telling him I considered it a pseudo-science on par with alchemy and astrology.

 He maintains several well known economists predicted it, but failed to recall their names when pressed.Anyone know who the hell saw the crack up coming, aside from perhaps Taleb, who dismisses economists himself?

vermeer -

anyone from the austrian school:

schiff, ron paul, tom woods to name a few

i would say jim rogers but he's a loon who is right once every 20 years

Peter Schiff, there are some great videos on youtube of him calling this whole meltdown way before it happened.  Not surprisingly, everyone thought he was a nut job for predicting it. 

https://www.youtube.com/watch?v=2I0QN-FYkpw&feature=related

 Thanks guys...I did not think Paul was an economist by trade or background...

 One last follow up: was any economist who was correct in the employment of the Federal Reserve  or Treasury at the time they made the call? This guy I have frosted  works for the Fed...

i cant imagine anyone who works at the Fed predicting his own company's disaster

paul is a doctor but Mises scholar...phd in economics i think

Jeff,

I find humor in hearing a cheat asshole like Cramerica trying to criticize someone else.

Cramer was a sleazy crook and is a miserable person, how he is able to make a living off scamming others with no regulation makes no sense to me.

Koaj

People who work at the Fed and other governmental agencies OMB, Treasury, etc) are charged with certain roles that ostensibly  obligate them to warn Congress and the country of impending disastrous policy outcomes. As Bernanke did recently, in a polite way, regarding fiscal responsibility vs monetary policy.

 The point at issue was whether any economist working in a regulatory role saw it coming., which then went to whether any degreed economist even saw it coming. If not, what good are they and their supposed "science?"

  Taking Cramer as a contrary indicator, as some here do, one should be elated he bases DRYS

 

 

the fed, omb and most other government appointed positions are very political

you think the obama fed and the obama OMB will warn him that he will bankrupt the country? same with the bush fed, etc

Paulson lobbied to lift the leverage ratios and then was named Secretary of Treasury!!!! we must be insane in this country

some senators saw it coming through fannie and freddie undercapitalization but nothing happenes b/c too many other senators are bought and paid for by FNM/FRE. bush did as well...nothing ever happened though

 I realize the political nature of the appointees especially, but it is a revolving door in all of those agencies, and making the right call can make you a fortune when you go private, so there is incentive to do so if you can. I am not sure what I prefer to think:they know they are screwing up and do so deliberately, or do not really really know, and like everyone else get blindsided...

  In sum, I think they and their statistics are so many horoscopic projections, none of which really are predicitve....and they cover their ignorance with political sucking up skills of the highest order.

  After all, everyone thought Greenie was the "greatest central banker in history" when he left..and now...well, not so much.

Any comments on HERO and DAN as quick trades?

Bought NTRI this am at 15.60 in value play. Look to ride it back to 20.

Barney Frank is such a tool...got made during an interview with CNBC and declared it over, to which he got "OK , we can get along without you."  So could the entire country.

Nice trade rat..85 cents in one day is nothing to shake a stick at.