Word: stockely
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...year ahead, events that may not be on Wall Street's radar but nevertheless have good chance of occurring. His prescience on market issues has won him a wide following. In an interview with TIME contributing editor John Curran, Wein reviews his 2009 list and opines on the stock market's prospects...
TIME: The stock market is acting horribly. Is another big sell off in the cards? Wein: I thought the market made a pretty good bottom in November, and clearly we didn't. I don't think it's over yet. We are still in a dangerous area because the good news hasn't started yet and the bad news is still coming through...
When will good news start to appear? We will start to see some good news on the macro level by the end of the year. The stock market will anticipate that well in advance, and by mid-summer the market will be doing better. It's kind of a confusing period where the fundamentals, such as employment, are getting worse. And yet we're still far away from the positive effects of the American Recovery & Reinvestment program [i.e., the government stimulus], so the market is apprehensive about discounting those expected positive developments too early. But I do think...
...United States currently faces an approximately 20 percent probability of entering into an economic depression, according to a Wednesday Wall Street Journal opinion piece penned by Harvard Economics professor Robert J. Barro. Drawing upon the financial statistics of 251 previous stock-market crashes and 97 depressions, Barro wrote that “the odds are roughly one-in-five that the current recession will snowball into the macroeconomic decline of 10% or more that is the hallmark of a depression.” Barro also wrote that he was skeptical about the effectiveness of the current federal stimulus package...
...recession is deepening and Japan's Prime Minister Taro Aso said there is "no bottom in sight" for his sinking country, many investors turned to China for a measure of hope. There have been glimmers of stability recently in the world's third-largest economy, and Asian stock markets briefly climbed midweek amid reports that Beijing would announce additional stimulus measures on top of the $586 billion it has already said it will spend to revive its slowing economy...