July 23, 2007
Going Nowhere at Warp Speed
From an interview with Larry Haverty in this week’s Barron’s:
“… it is very clear the U.S. consumer is in what I would call a 21st-century recession, and that’s a recession without the negative economic statistics that you would normally get in a ’60s or ’70s style recession … We are not getting a classic recession, probably due to the fact that inventory management has been so much better than it was 30 years ago, largely due to computers. There aren’t the massive cancellations of orders that existed in the classic recessions in the ’60s and ’70s. I can’t tell you the last time I have seen a retailer with seriously excessive inventory.”
Inventory management, ha! We are not getting a classic recession, probably due to the fact that the unemployment rate is 4.5%. ;-)
July 23rd, 2007 at 6:38 pm
Me thinks that the only reason we havent called this a recession is that on paper it still looks good, although in reality the currency depreciation already indicates big losses in housing and nearly equal in equities, and given the sick large liquidity…this is sad. Lame excuses only put quotation marks around the upcoming down cycle….and the wise would be prepared…but when?!?!?!??!?!
July 23rd, 2007 at 8:36 pm
It’s not a recession because the gov. has been throwing money (injecting liquidity) through all possible means. The numbers (including the unemployment rate) are all manipulated. In any case the quality of those jobs by no means is the same as before. This gov. is the biggest threat to the public and they are only putting off the problem.
July 23rd, 2007 at 11:09 pm
I agree with Carlos. The government is the problem, and most of its reporting data is manipulated to the max. Anyone who lives in the U.S. and can look at the economy with an objective eye, and believes the unemployment rate is only 4.5 percent, well, talk to me about a bridge I have to sell. But with a C- Yale graduate in the White House, manipulated by a Haliburton stock holder/failed duck hunter,what can one expect?
July 24th, 2007 at 8:15 am
>>Inventory management, ha! We are not getting a classic recession, probably due to the fact that the unemployment rate is 4.5%.
July 24th, 2007 at 8:16 am
damn your posting program
July 24th, 2007 at 9:23 am
brandon: Did the spam filter zap you? Try try again or email me your comment and I’ll post it.