Warren Buffett says.... - Page 2

xoxoxoBruce · 08-02-2008, 11:09 AM

It means some people are making money, just not us.

Undertoad · 08-02-2008, 11:47 AM

It means that the media and tw have to come up with other reasons to report that the US in a recession, other than the dictionary definition of it which says it is not. It means the economy is in decent shape to weather the remaining storms it has to see through. It means our trading partners can relax a little. It means LJ will stay busy doing deals. Hopefully it means the job market can stop shrugging off jobs.

GDP = Gross Domestic Product, roughly how many dollars moved around that period. Dictionary definition: The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports. Dictionary definition of recession: A period of general economic decline; specifically, a decline in GDP for two or more consecutive quarters.

This latest set of numbers revised the 4th Q 2007 to -0.2%, 1st Q 2008 to +0.9%, 2nd Q 2008 Estimate to +1.9%. Since the final numbers don't indicate two consecutive quarters of negatives, there was not a "dictionary definition" recession, or there is not one yet ongoing.

deadbeater · 08-06-2008, 07:55 PM

Quote:

Originally Posted by xoxoxoBruce

It means some people are making money, just not us.

Particularly those who short real estate and went long on oil.

lookout123 · 08-07-2008, 10:22 AM

you didn't have to go short to make money on it. selling along the way locking in profits worked as well. being long on energy has been a pretty intelligent idea for a very long time so nothing really new there.

08-02-2008, 11:09 AM	#16
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	It means some people are making money, just not us. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

08-07-2008, 10:22 AM	#19
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	you didn't have to go short to make money on it. selling along the way locking in profits worked as well. being long on energy has been a pretty intelligent idea for a very long time so nothing really new there. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

08-02-2008, 11:47 AM	#17
Undertoad Radical Centrist Join Date: Jan 2001 Location: Cottage of Prussia Posts: 31,423	It means that the media and tw have to come up with other reasons to report that the US in a recession, other than the dictionary definition of it which says it is not. It means the economy is in decent shape to weather the remaining storms it has to see through. It means our trading partners can relax a little. It means LJ will stay busy doing deals. Hopefully it means the job market can stop shrugging off jobs. GDP = Gross Domestic Product, roughly how many dollars moved around that period. Dictionary definition: The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports. Dictionary definition of recession: A period of general economic decline; specifically, a decline in GDP for two or more consecutive quarters. This latest set of numbers revised the 4th Q 2007 to -0.2%, 1st Q 2008 to +0.9%, 2nd Q 2008 Estimate to +1.9%. Since the final numbers don't indicate two consecutive quarters of negatives, there was not a "dictionary definition" recession, or there is not one yet ongoing.

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