And Now They Tell US
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Last year around this time I said:
You read it here first: The US economy has been in recession since the fourth quarter of 2007 and is now starting to get out (thanks to the Fed‘s “free money”). Says who? Just all the American corporations.
Today we received the timely confirmation by the National Bureau of Economic Research: “The U.S. entered a recession in December 2007″. Thank you guys! You are providing a great service.
As I mentioned before, 2008 was a harsh year that forced the weaker players to part with their properties and investments. If you managed so far, congratulations and keep on surviving.
Both the Dow and gold charts are broken and although we are at the bottom of the recession, picking the bottom of the market is going to be difficult.
I’ll be looking for new market opportunities on the upside and for the long term.
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This article is part of the series "Documenting The Hyperinflationary Genesis"
- Bernanke’s creative solution: Let’s do it again
- At a financial crossroads
- How to survive hyperinflation
- Let the party begin. We will be dead tomorrow
- I have $ 100,000,000,000 and yet I can’t retire
- Is the Dow Jones at a new high?
- Stagflation: This Time It Is Different
- The Myth Of Gold as Inflation Hedge
- Is Gold a Hedge Against Excess Liquidity?
- Disposable Personal Income Shows Disturbing Historical Trend
- Things That Go Bump in the Night
- Greenspan: Give Homeowners Financial Aid: Financial News – Yahoo! Finance
- Black Swans, Bell Curves and Stagflation
- The Gold Scam
- And Now They Tell US
- Some Historical Perspective on the Current Recession
- Gold Correction Seems Over
- Gold Chatter
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December 4th, 2008 at 12:48 am
Yeah, thanks for telling everybody the BIG NEWS about the economy National Bureau of Economic Research. What a scoop.
I really enjoyed during the run up to the election every time Rush Limbaugh would blow hard about how technically we were not yet in a recession because technically it would take two consecutive quarters of blah blah blah… I guess it is hard to stay in touch with the facts on the ground from inside the pleasure dome of celebrity and wealth.
Anyway, great blog… I just noticed a hit in my stats from here and thought I would check it out. I am humbled that you would add my lowly blog Disinformation Station to your blogroll. A million thanks… I’ve taken a break from posting to it recently, but sooner or later I’ll be back with fresh material.
Thanks again! See you around the interwebs.
December 5th, 2008 at 10:30 am
I don’t go around that series of tubes much, but I am sure we are going to meet on the interwebs.
My pleasure, I really enjoyed reading your crazy conspiracies.
December 9th, 2008 at 11:31 am
I think all of this recession it’s just a fake to push all consumers (worldwide) to spend more and more…
January 2nd, 2009 at 7:18 am
Good call on the recession in 07…been pretty bad, but like you said the strong will survive.
January 18th, 2009 at 12:36 am
Hmmm… Interesting. I, too, called this recession quite some time ago. Early April of 2007 I started my website with the forecast of an impending 20 month recession. I think it’s ironic that the so called experts who have consistently blown their predictions are still considered the very experts to lead us out of this dark age and back into the light. You can check out our current forecasts and plenty of economic charts at http://jpetervanschaik.googlepages.com
January 18th, 2009 at 11:17 am
Hi Peter,
Great post on the business cycle. Do you have a post where you explain the methodology to detect the recession?
I really liked your site.
January 18th, 2009 at 2:02 pm
Near the bottom of the website the April 13, 2007 post explains my Business Cycle Indicator. It is an interest rate based statistic although I have another posted which is blended with debt data. The interest rate based indicator turns negative 9 to 30 months before the onset of the official NBER recession but the total cumulative negative figure bears a clsoe relationship with the duration of the downturn. I discuss this with charts and more detail in the April 13th post
March 29th, 2010 at 8:54 pm
Great post. America the top most developed country. They also fell in recession. Thanks for the prediction.