Zachary Scheidt

New Oriental Education and Tech: An Expensive Short Opportunity

woohooo!!! the recession is over! I guess we're out of the woods now despite the fact that unemployment is continuing to rise, wages are falling, credit lines are contracting, credit defaults are rising, construction loan defaults are increasing, government debt issuance is huge and consumers are hunkered down and saving.

As I said, any GDP growth in Q3 will be a result of government spending and not a truly sustainable economic rebound. I'm still in that camp and expect the long-term recover to be much more difficult than many analyst predict.

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