It's funny that the justification for having a central bank is supposed to be that it can minimize short-term economic fluctuation through monetary policy. According to supporters of a central bank, the business cycle is supposed to be a failing of an unrestrained free market, not a properly regulated one.<p>The economic history of the United States is a powerful argument against that assertion.
Does anyone besides me expect grunge to make a come back?<p>How's the job market in the Seattle area?<p>We old gen X folk enjoyed the Seattle Sound when the economy was crap.<p>Do the millennials (gen Y) get to live through their own version of the early 90s job market?<p>Cheer up gen Y, it will turn around, and you just might get some good music out of it.<p>P.S.<p>Get off my lawn.
welcome to the L-shaped recession. welcome to the secular bear market. a secular bear market periodically shows amazing % gains in stocks, but always ending down. look at the dow in the 30s, the nikkei in the 90s (and now)...even cyclical gains of 100% or more could not stem the larger down trend<p>forget all this garbage of now being a great time to max out ten credit cards to build a website. there is only one rule for secular bear markets - preserve wealth. there is no value in planting in an economic winter. don't fight it, wait for an economic spring to appear in the economy and have capital ready for a more appropriate climate. we have years to go. this will end only when all excess debt is deleveraged and governments, consumers and companies alike have healthier balance sheets purged of debt.
Before people go off screaming <i>Recession</i> I would like to note that we've been in a recession and secular bear market since 2000. Only due to central bank intervention did it seem to get any better... and the intervention delayed the normal business cycle and deepened the contraction.
It's funny how the news reporters work so hard to find every reason under the sun for why the stock market is going down - except that traders in general prefer republicans, and they are not happy obama won. But reporters can't say that.<p>Not directly related to unemployment I know.