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Great little snippet

Posted: Tue Mar 03, 2009 2:10 am
by annarborgator
From a post on Zero Hedge called "Summary of Today's Festivities", for which Zero Hedge gave credit to Goldman Sachs:
How markets react to new lows matter. The lack of panic, the smell of resignation, the crush of apathy – all points to a market ready to trade even lower as good news and bold actions carry less weight than the stale positions of hope and last year’s thinking drive the tape. All this leads many to look up the difference between a recession and a depression. The good news is depression is undefined we’ll just know it when we get there. Does the MSCI world stock index dropping 14 of the last 15 days suggest we are there? Probably not yet as we need to have higher unemployment, lower prices and another period of absolute capitulation before anyone would admit to the end.
http://zerohedge.blogspot.com/2009/03/summary-of-todays-market-action.html

Oh good lord.

Great little snippet

Posted: Tue Mar 03, 2009 8:45 am
by radbag
the 'smell of risk is in the air'???

good god man...that article could have applied on march 2nd of 2008....2007 perhaps too