3 replies to this topic

[nimblebear]

"...I'll conclude by theorizing that a good percentage of the seven million "services" jobs added over the past five years owe much of their existence to rampant Credit and asset inflation. They're (seductively and dangerously) Bubble Manifestations similar to the tech employment boom that proved so susceptible and disruptive. And, clearly, accelerating Income Growth is at this point very much a Credit Bubble phenomenon. For now, these dynamics ensure extraordinary uncertainty. Yet we should expect the eventual bursting of this Bubble to initiate job and Income losses that will make post-tech Bubble dislocations look inconsequential by comparison." Doug Noland The Credit Bubble Bulletin Is this guy pessimistic or what ?

[Sentient Being]

What's he talking about? Loan originators, credit card companies, home construction jobs, retail?

[fib_1618]

"...I'll conclude by theorizing that a good percentage of the seven million "services" jobs added over the past five years owe much of their existence to rampant Credit and asset inflation. They're (seductively and dangerously) Bubble Manifestations similar to the tech employment boom that proved so susceptible and disruptive. And, clearly, accelerating Income Growth is at this point very much a Credit Bubble phenomenon. For now, these dynamics ensure extraordinary uncertainty. Yet we should expect the eventual bursting of this Bubble to initiate job and Income losses that will make post-tech Bubble dislocations look inconsequential by comparison."

Theory? No proof? What was it Ronald Reagan said? Oh yea...

"An economist is someone who sees something happen, and then wonders if it would work in theory".

Nuff said.

Fib

[dcengr]

I love science and engineering. Its much easier to prove when someone's right or wrong. General consensus usually aren't faded, for example. You're going to find a dime a dozen opinions on the market any nano second. They'll be given by PhD economists to billion dollar money managers to shoe shine boys to whatever. And.. generally, they'll only give you one thing: its going up or down. Find me someone who can consistantly nail a value by a certain time, and I will show you a genius.