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Royal Bank of Canada Message Board

  • cifrocco cifrocco Aug 8, 2008 10:17 AM Flag

    The Phoney Recession

    I don't know. Many analysts and pundits have declared a recession in the US for months now, but with financials stablizing and in some cases recovering in stock price, and with oil prices retreating daily, it seems to me that we'll never even see one quarter of negative GDP.

    I could be wrong. The recession blitzkrieg may actually happen, but it would probably be after the US elections.

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    • so carried away with my disdain for pundits that I forgot to offer my own "pundit-like" comment on the recession:
      I actually think the worst is behind us. Of course, the market will continue to be volatile. And we'll see another down wave or two. But each one will be less severe than the last. As for the election, I actually have a different view: I think the certainty of knowing who the new leader is will actually lead to stability in the economy and markets.

    • "Many analysts and pundits have declared a recession in the US for months now.."

      Pundits and analysts are no smarter than the average guy on this forum. Most are just semi-literate shmucks with opinions, who happen to like the spotlight, and can shamelessly spew off while never being held accountable for their predictions. The best thing one can do is turn off the noise (CNBC, BNN etc.), dig up the facts, then sit in a quiet room and think for your self. You'd be surprised how far that will get you.

    • Guy, recession or not, there's been 1 trillion dollar in losses from bad loans, someone has to pay, and for a damn long time to.

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