0 votes

Did anybody see David Rosenberg on CNBC today? The guy all but said we are headed for 1930s style depression.


hit link for video ...


Rosenberg calls current economic conditions "a depression, and not just some garden-variety recession," and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered "euphoric response."

"Such is human nature and nobody can be blamed for trying to be optimistic; however, in the money management business, we have a fiduciary responsibility to be as realistic as possible about the outlook for the economy and the market at all times," he said.

The 1929-33 recession saw six quarterly bounces in GDP with an average gain of 8 percent, sending the stock market to a 50 percent rally in early 1930 as investors thought the worst had passed.

"False premise," Rosenberg said. "And guess what? We may well be reliving history here. If you're keeping score, we have recorded four quarterly advances in real GDP, and the average is only 3%."


Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

We're already in the 1930's.

This is it. We're living it. It's just not as painful because we're a wealthier society now.

My favorite people in the world: Ron Paul, Glenn Beck, Peter Schiff, Judge Napolitano, Milton Friedman, Bob Barr, and John Stossel

Yes, and don't forget...

Yes, and don't forget... everyone who goes on TV is to be believed without question because they are smarter than us. :)

Excellent discussion on gold

Excellent discussion on gold and silver prices and the mining companies as well. This is a great find!

Cuimhnigh orm, a Dhia, le haghaidh maith.

good find Rhino

bump & Thanks.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15