- by New Deal democrat
The latest Big Crisis in finance happened this morning. I know it happened because the lead Doomers said it would almost certainly happen today.
So, how bad was the carnage?
**L'Esprit de l'Escalier: May 25, 2013**
41 minutes ago
4 comments:
Bad enough that the Bonddad blog felt it was serious enough to mention.
Best armageddon ever. It's a nice sunny day, the markets are up. If this is the end of the world as we know it, I most certainly feel fine.
Being a doomer means never having to say you're sorry. If you are an optimist who keeps predicting a recovery that doesn't happen, sooner or later people will tire of you being wrong. But if you predict doom, it doesn't seem to matter whether it ever happens or not. People are perfectly content to continue listening to you, no matter how many times you're wrong.
Personally, I prefer reality, which is what I get on this blog.
Talk about "Gloom and Doom" today's Wall Street Journal on line publication "Market Watch" is over the top. They wrote the following:
"A record number of people were in poverty last year as households saw their income decrease, according to data released by the Census Bureau Tuesday demonstrating the weakness of the economy even after the recession ended.
The 46.2 million people in poverty in 2010 was the largest group for the 52 years that estimates have been published, and the number of people in poverty rose for the fourth consecutive year as the poverty rate climbed to 15.1% — the highest since 1993 — up from 14.3% in 2009.
Meanwhile, real median household income in 2010 was $49,445, down 2.3% from the prior year, and below pre-recession levels
And, what they didn’t mention (thankfully) was that 45 million on food stamps"
That's why I read Bonddad (the blog that is) it's so reassuring.
Best
Tom
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