Just like 2008

[Free bird]

Freebird is top 1%

 

[NW-Bound]

Yes CNBC
And yes, everyone posting here is in the top 10% looks -wise and top 20% brains -wise

Huh? Are you saying people here are not as smart as they look?

 

[GravitySucks]

Freebird is top 1%

Looks or Brains?

 

[NW-Bound]

I'd venture that he meant everything.

Look, brain, height, skills, physical abilities, net worth, social graces, knowledge... Did I miss anything?

 

[redduck]

Freebird is top 1%

I'd venture that he meant everything.

Look, brain, height, skills, physical abilities, net worth, social graces, knowledge... Did I miss anything?

Methinks Freebird (sic) overestimates himself as he misspelled his name.

 

[OldShooter]

I'd venture that he meant everything.

Look, brain, height, skills, physical abilities, net worth, social graces, knowledge... Did I miss anything?

Humility?

 

[NW-Bound]

Methinks Freebird (sic) overestimates himself as he misspelled his name.

Can a person be excellent on everything, except for typing?

 

[NW-Bound]

Humility?

Humility is overrated. Nowadays, people tweet and tout themselves all the time, from CEOs to politicians. When you are good, you want to let people know.

 

[RobLJ]

Like Lake Woebegon, we're all good looking and above average!

 

[RobLJ]

As a start, deficit spending in a recession and coming out of a recessions (demand gap) is different from yuge deficit spending/tax cuts near the peak of the cycle (or maybe not the peak; we'll see).

There are other factors too, but I suspect this is the main one.

Without deficits to ease the demand gap in 2009-10 we--perhaps--would have been looking at deflation, and that ain't easy to combat. Just ask Japan or my Okie grandfather who started his working life in the Great Depression in the maw of what was perhaps the worst-hit area of the Depression (Southern Oklahoma).

Why is this deficit spending creating 4% GDP and why didn't the last large deficit create the same? Is temporary better than nothing? I don't know the answers, just wondering.

 

[RobLJ]

For the first time in 30 years, Japan may be looking at some inflation, to add a bit of color to the above.

 

[DEC-1982]

GDP growth can be good even as the stock market is going down. Short term, they are two different animals.

 

[HFWR]

Humility is overrated. Nowadays, people tweet and tout themselves all the time, from CEOs to politicians. When you are good, you want to let people know.

And in his teaching he said, “Beware of the scribes, who like to walk around in long robes and like greetings in the marketplaces and have the best seats in the synagogues and the places of honor at feasts, who devour widows' houses and for a pretense make long prayers. They will receive the greater condemnation.”

 

[NW-Bound]

"Humility is not denying your strengths, but accepting your weaknesses" -- Rick Warren

But, but, but what if a person does not see that he has any weaknesses? Just perfection all around.

 

[Free bird]

Looks like the algos are set for a 10% correction. It gives a humans a nice round number to remember.

 

[target2019]

What's an algos? If you meant algorithm, is that forward-looking? I believe that using algorithm WRT the stock market implies there is something fixed about this. Is that what you meant?

 

[Free bird]

Fixed? No. Managed yes.

 

[Chuckanut]

"Humility is not denying your strengths, but accepting your weaknesses" -- Rick Warren

But, but, but what if a person does not see that he has any weaknesses? Just perfection all around.

I have known a number of people like that - Rarely right, but never in doubt is the way I describe them.

Remember the Dunning-Kruger effect?

https://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect

The cognitive bias of illusory superiority comes from the inability of low-ability people to recognize their lack of ability. Without the self-awareness of metacognition, low-ability people cannot objectively evaluate their actual competence or incompetence.[

IOW, they are so stupid they don't know they are stupid.

Back to the topic....

We should all learn a lesson from the 2008 debacle. If we can't prevent another one, at least we can protect ourselves and our loved ones. But, it would be a big mistake to assume history always repeats itself in the same way. We don't know what economic mistakes/excesses/failures may bring on the next big recession.

 

[razztazz]

"Humility is not denying your strengths, but accepting your weaknesses" -- Rick Warren

But, but, but what if a person does not see that he has any weaknesses? Just perfection all around.

Not only that but not denying your strengths does not mean you have to go around blowing on and on about them all the time either. Not denying doesn't mean constantly advertising.

 

[NW-Bound]

... Not denying doesn't mean constantly advertising.

People find that hard to control too. Hence, they tweet.

 

[bclover]

There is an old flight training rule regarding failed-engine landings at night:

As you get close to the ground, turn on your landing light. If you don't like what you see, turn it off.

When the market is going up I tend to watch it and smile. When it's going down, I'm a long-term investor, landing light off.

that's great and I am not above stealing good quotes.

Thanks

 

[unclemick]

There is an old flight training rule regarding failed-engine landings at night:

As you get close to the ground, turn on your landing light. If you don't like what you see, turn it off.

When the market is going up I tend to watch it and smile. When it's going down, I'm a long-term investor, landing light off.

Let me hear an amen!

heh heh heh - full auto since 2006 via Target Retirement.

 

[NW-Bound]

... When the market is going up I tend to watch it and smile. When it's going down, I'm a long-term investor, landing light off.

Not here.

When the market goes up and up, I worry about it crashing.

When it goes down, I double up on watching it, trying to see if there's any dot-com-like stock that I own inadvertently.

And usually, after the fact I kick myself for not doing more, meaning selling more when the market is high, and buying more when the market is low.

Overcoming greed and fear is very tough. Hence, it is often advocated that people do not look. But I do. I want to know what's going on.

When I was diagnosed with a life-threatening health issue a few years ago, I researched to know the prognosis and the survival rate. I learned all that I could, and when the specialists talked to me about the surgeries and treatments, I already knew all what they were going to do. And I knew about my chances too.

No closing my eyes to the danger here.

 

[Free bird]

Elections will be history soon along with the uncertainty. New highs will be manufactured by year end. Apple has a new computer. By January it will be fun to count your money again.

 

[NW-Bound]

I count my money every day. Recently, it takes less time to count.