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Market Currents

Tuesday, September 15, 2009
6:03 PM TweetThis
  • Irwin Kellner shrugs off long-range estimates that peg the federal deficit at $9T over the next 10 years. "Somehow or other, unexpected developments have a way of changing what seems to be a certainty. In today's case, it could be such developments as stronger growth, greater productivity, innovation and technology."

This news story has 9 comments:

  •  
    Kellner has to one of the largest virtual imbeciles on planet earth , and thats saying something. if you've ever been forced to read his nepotistic drivel on MarketKvetch, you'd almost die laughing he's been soooo wrong, its almost as good a contrarian indicator as Prechter.....when they say sell,,, YOU BUY.....
    Sep 15 06:15 PM | Link | Reply
  •  
    Yes for sure and the other side of the argument is "MAYBE NOT"
    Sep 15 06:26 PM | Link | Reply
  •  
    Great...now we're getting economic advice from a fool who essentially hopes that "something good" will come down the pike & create robust economic growth. And this passes for sound economic advice?
    Sep 15 07:02 PM | Link | Reply
  •  
    "Don't trust the weather man".

    "Carry an umbrella in the boot regardless".

    "Zero sum models are often wrong".

    "Don't trust the predictions and promises of people with a vested interest in the outcome of a complex endeavor".

    He sounds just like my great uncle, sweet man, who could make almost anything except money.
    Sep 15 07:35 PM | Link | Reply
  •  
    Or it could be more printed money, lets be real
    Sep 15 09:14 PM | Link | Reply
  •  
    I am also not a big fan of Irwin, however all gloomy pessimists should heed his message because he has history on his side on this one. Also, it is interesting to note that even John Mauldin made a similar statement during an interview when he was discussing that quantitatively we would need to see 9-10% GDP over a series of year in order to bring unemployment back down to around 5%. However, John qualified this statement by saying that he believes unemployment will come down to that level again sooner than most people believe even without the unrealistic 9-10% GDP growth because unforeseen innovations and new industries will develop which will create jobs that we cannot necessarily even conceive of today. He says that is why he is optimistic.
    Sep 15 09:48 PM | Link | Reply
  •  
    Hey, since I *might* be getting a raise in the future and *maybe* even win the lottery, I think I'll go buy a car I can't afford and a new TV too!!!
    Sep 15 10:34 PM | Link | Reply
  •  
    I want to know what he is smoking.
    Sep 15 10:39 PM | Link | Reply
  •  
    Well, if we don't get the unforeseeable developments, we'll just eliminate the 9T with inflation.
    Sep 15 11:35 PM | Link | Reply
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