{"id":192099,"date":"2009-05-12T19:37:00","date_gmt":"2009-05-13T00:37:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/05\/12\/suckers-rally\/"},"modified":"2009-05-12T19:37:00","modified_gmt":"2009-05-13T00:37:00","slug":"suckers-rally","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/05\/12\/suckers-rally\/","title":{"rendered":"Suckers Rally"},"content":{"rendered":"<p>So, we have Nobel Prize winning economist Paul Krugman saying that <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aE0mkwMWHxQs&amp;\">a rapid recovery is highly unlikely<\/a>, and we have Andy Kessler, in the (web) pages of the <span style=\"font-style: italic;\">Wall Street Journal<\/span> noting the obvious, that, &#8220;<a href=\"http:\/\/online.wsj.com\/article\/SB124208415028908497.html\">You can have a jobless recovery but you can&#8217;t have a profitless one<\/a>,&#8221; and saying that this sounds like a suckers rally.<\/p>\n<p>One more bit of confirming data to support this is the fact that the main stream media, in the personage of ABC is writing stories saying that, &#8220;<a href=\"http:\/\/abcnews.go.com\/Business\/Economy\/story?id=7564649&amp;page=1\">There is a growing belief among financial experts that the recession is over<\/a>.&#8221;<\/p>\n<p>It&#8217;s not just that these &#8220;financial experts&#8221; were generally the ones who were wrong about deregulation of the markets and the housing bubble.  It&#8217;s that these &#8220;financial experts&#8221; are <span style=\"font-weight: bold;\">always wrong<\/span>.<\/p>\n<p>The cause of this recession is a rot at the core of our financial institutions, and I haven&#8217;t seen anyone chopping down trees to prevent &#8220;Wall Street Elm Disease&#8221; from spreading yet.<\/p>\n<p>I&#8217;m not looking for a real turnaround until we start seeing &#8220;no end in sight&#8221; stories from these &#8220;financial experts,&#8221; so I call suckers rally.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So, we have Nobel Prize winning economist Paul Krugman saying that a rapid recovery is highly unlikely, and we have Andy Kessler, in the (web) pages of the Wall Street Journal noting the obvious, that, &#8220;You can have a jobless recovery but you can&#8217;t have a profitless one,&#8221; and saying that this sounds like a &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1064,1089],"tags":[],"class_list":["post-192099","post","type-post","status-publish","format-standard","hentry","category-economy","category-media","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192099"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=192099"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192099\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}