CNBC - US To Face Poor Economy for 10-15 Years: Robertson

[touchring]

Not exactly domain news, but the current topic right now.

So, are we all gona wait 10-15 years for the next domain boom?


US To Face Poor Economy for 10-15 Years: Robertson

By CNBC.com | 13 Oct 2008 | 03:27 PM ET

Multi-millionaire investor Julian Robertson told CNBC that the United States is "just getting into the recession," and that the poor economy will last as long as 10 to 15 years.

Last year, Robertson had said that the U.S. economy was in for "a doozy of a recession." He said the reason was the credit situation was worse than anyone had thought.

"Doozy’s a tough one and long one, I think that’s what we’re headed for," said the chairman of Tiger Management.

(Watch the accompanying video for the full interview with Julian Robertson...)

"I don’t mean to imply that this is going to last quite as long as what’s been happening in Japan, but when they went into their decline in 1990, almost 20 years ago, their people were loaded with savings—but [Americans are] all broke," he said. "...If we leave out the home in the calculations, I’d say that 80-85 percent of Americans are broke. So they have to cut back on their spending."

http://www.cnbc.com/id/27165599

 

[stock_post]

Is CNBC and MSNBC the same or are they different?

CNBC partnered with Microsoft is MSNBC is that correct?

Then they run the two versions?

 

[Yusio]

Regarding the first post.. I'd believe it. And i think the bailout is only going to make it worse.

 

[stock_post]

Today’s market move is surprisingly against that news.
I am not an expert but it looks like we have seen the bottom at DOW 8000
Hopping the economy is going to go forward.

 

[Gregcyber]

Love Wins

 

[Poker]

CNBC is used as a contrarian indicator by those in the know. There are a very few select people that are worth listening to when they are put on cnbc, but for the most part what most people say on air there (talking heads and so called gurus) is worthless when it comes to market direction. When cnbc finally says "doom and gloom" or "market in crises" etc...expect a bounce and possibly a bottom

 

[theinvestor]

Today’s market move is surprisingly against that news.
I am not an expert but it looks like we have seen the bottom at DOW 8000
Hopping the economy is going to go forward.

How could we have reached a bottom? Bottoms occur when there is a large volume of buying power on the low. You don't miss bottoms. There is always a chance to buy on bottoms.

I hope you don't get fooled by thinking the market has recovered. We are not even technically in a recession yet. There cannot be a bottom without at least TWO quarters of negative GDP. If this is going to happen, expect us to go lower.

 

[H2FC]

I would agree we will have a poor economy for many years except for one big reason....

We have already begun a green revolution and we are electing a new President and administration that intends to follow through to firmly establish it. The development and implimentation of clean new alternative energies will provide this country with more jobs and opportunities than any boom we've ever had before.

A new green economy will be established and the whole world will benefit from it. Money will stop flowing to those who would destroy us and our climate change problems caused by burning fossil fuels for energy will be solved forever. Health problems caused by polution will be greatly reduced thus saving many more trillions$$ worldwide.

We have a lot to look forward to and to be thankful for....

 

[DomainsInc]

SO whats gonna happen in 10-15 years to change it? These kind of predictions are just based on things that happened elsewhere, he might as well be checking with the magic 8 ball.

 

[JMJ]

H2FC the only way those you are referring to are going to allow a move off of oil is a different type of revolution.

We aren't anywhere close to the bottom. When more large companies go out of business and merge with each other in turn eliminating hundreds of thousands if not millions of people's retirements and health leaving them to just to their SSI and public health. Then you're talking bottom. And since the baby boomers hitting retirement age is just around the corner I think this guys forecast is right.

 

[tonyfloyd]

same clown that got his *** handed to him in 2000??.....

http://money.cnn.com/2000/03/30/mutualfunds/q_funds_tiger/

 

[stewie]

Come on in, the water is fine....LOL don't worry about those sharks they won't bite!!!

Dow was up 936 to 9387

 

[tonyfloyd]

Dow was up 936 to 9387

Was in Celebration of Columbus Day!...

 

[JMJ]

Was in Celebration of Columbus Day!...

Yeah and the banks were closed today. Maybe thats a sign. We close all the banks down and the water is fine.

 

[rebirth]

10-15 years?

Sheesh, he was only making a scene. In 5 years, everything will go back to normal.

 

[Theo]

Once again, it'll take a democrat president to undo the republican mess.

 

[H2FC]

H2FC the only way those you are referring to are going to allow a move off of oil is a different type of revolution.

We aren't anywhere close to the bottom. When more large companies go out of business and merge with each other in turn eliminating hundreds of thousands if not millions of people's retirements and health leaving them to just to their SSI and public health. Then you're talking bottom. And since the baby boomers hitting retirement age is just around the corner I think this guys forecast is right.

JMJ, there are many who believe as you do and thats because the present administration has not paid much attention, and in fact, has ignored the great necessity and benefits of moving to a clean green economy. This will change with a new President.

Most all economists have agreed that an all out drive pushed and supported by government to develop and impliment new alternative energies will have a very positive impact on our economy. In my opinion this is where the majority of new jobs and businesses will come from. It has been estimated the overall value of a new clean alternative energy economy will be from 10 to 100 times the value of our present day internet.

In regards to the bottom, I believe we are near it now. I think we will have some ups and downs for several months before the lower rates, bailouts/handout changes take full effect....but it will be measured in months.....not years. The new clean economy will be the spark that puts us back on track....imho.

 

[Theo]

We are not near the bottom. The real estate market is fubar. It was the first domino to fall and it will be the last to get up.