Another excellent fireside depression chat

with Warren Brussee.
http://www.financial...m/fsn/main.html

PS he did call for the depression to start in 2007 in the book he wrote in 2004.
He's got a new book out, calls for the housing implosion to continue a couple more yrs with option arms walkaways starting soon with 75% default rate.
And another 50% haircut in the stk market.
Gold and inflation should do very well in the yrs ahead like the 70s with rates going up. Can't forget good old price of oil.
Looks like da Fed and treasury will keep very busy..

with Warren Brussee.
http://www.financial...m/fsn/main.html

PS he did call for the depression to start in 2007 in the book he wrote in 2004.
He's got a new book out, calls for the housing implosion to continue a couple more yrs with option arms walkaways starting soon with 75% default rate.
And another 50% haircut in the stk market.
Gold and inflation should do very well in the yrs ahead like the 70s with rates going up. Can't forget good old price of oil.
Looks like da Fed and treasury will keep very busy..

Typical gold bug response! Just remind him gold world wide dropped during the last great depression.

Edited by pdx5, 31 January 2009 - 05:15 PM.

Don't be so quick to judge pdx5. Listen to the man first. He's no gold bug, he doesn't even want to mention it.. PS gold is heading up during this depression if you haven't noticed already....

Lee48, do you remember a book by Ravi Batra on the subject of "The crash of 1990"? The crash that never came? But "crash" books were popular then and they will be popular now. To sell books or DVD's or Advisory services.....one must have a sensational title and subject. Something which will get your attention. May be this time it is different. But I have heard that umpteen times in my 45 years of dabbling in the stock market and other investments. My response now a days is a big yawn....

pdx5, I remember the guru Robert Pretcher's call in 1987 that this is the end after the 1987 crash. Since it didn't happen, he's been very humble, and has not been seen on cnbc much to speak of. But this time I feel it's different as many things are converging to make this prolonged. Like other times in the past. After all, it's not very often that Americans start saving instead of increasing debt and spending. I think them times are over for a while. The middle class now see the market filled with fraud and as a losers game after getting whacked this time and after the 2000 whacking. All the while, the cost of living keeps going up.

From -

http://www.calculatedriskblog.com/

Another shoe to drop -



Note "lending standard" is inverted, i.e. decrease on graph means lending standards being tighten and harder to qualify for a loan.