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This strikes me more as wishful thinking than clear analysis. The assumption is that the Obama stimuli will work and we’ll be back to business as usual. I for one don’t see that happening over the long term.
December 31, 2008 at 9:31 am |
I had the same thought when I read that article. The headline was something like: “Nowhere to go but up.” I’d think with the DJIA at 8500 and housing values down 18% over last year, that there is still plenty of room to go down.
December 31, 2008 at 12:10 pm |
I’ve never known any financial analyst to predict that the market will go down, for the obvious reprecussions it could do to their pay check. My financial planner told me basically the same thing the article did and I asked what happens if it goes down? He sidestepped the question saying that everyone predicts things to start going up next year. I didn’t say this to him, but I wanted to ask if they said the same thing the year before the Great Depression?
December 31, 2008 at 1:05 pm |
I was listening to NPR this morning while out running errands and they had the year-end economics segment where their staff economics guy reviewed his 2008 predictions (which turned out to be pretty inaccurate) and then predicted what 2009. His predictions: low interest rates, much lower unemployment, no inflation, 30% gain in the NASDAQ and healthy gains in the S&P 500 and Dow. Basically, he predicted a sharp ‘V’ shaped recession and said that 2010 was going to be huge for the economy.
How he can claim inflation will be zero right after stating that we’ll be pumping billions, if not trillions of dollars into the economy this coming year is beyond me. Lots of happy talk…