Remember the rampant bull market in bottom callers a year
ago?
"The recession is over..." - James Cramer, TheStreet.com, December 19, 2001
"The market is looking forward...we're looking forward to a recovery in the first or second quarter of next year, and we want numbers that will confirm that data..." - Peter Gottleib, First Albany Asset Management, Yahoo, December 21, 2001
"The evidence continues mounting that the economy has already bottomed..." - Ed Peters, PanAgora Asset Management, Yahoo, December 21, 2001
"The deterioration in economic conditions appears to be reaching a plateau." -- Lynn Franco, Director of Conference Board Consumer Research Center, CBS News, December 28, 2001
President Bush said on Friday an economic stimulus package may turn out not to be needed and that he may act unilaterally to help the nation's unemployed after negotiations with Congress broke down..."We're continuing to get mixed signals. Hopefully, the economy will be good'' he added. - Reuters, December 21, 2001
"This is going to be the mildest recession in post-war history."
- National Federation of Independent Business Chief Economist William Dunkelberg, January 28, 2002
"We're probably a little closer to the end (of the recession) than we are the beginning. There are the signs that we're beginning to turn the corner..."
- U.S. Commerce Secretary Donald Evans, Meet the Press, NBC, January 13, 2002
"We're in the recovery process and we're in the beginning of the positive real growth period.''
- Paul O'Neill, Treasury Secretary, January 9, 2002 (Bloomberg)
Pre-bottom? Pre-mid-bottom? Mid-bottom? Post-mid-bottom? Pre-post bottom?
"...The economy is giving signals of being near or at the bottom...(whether we are) in the middle of the bottom or right after the bottom is unclear..."
- William McDonough, President, New York Federal Reserve, Ananova, January 8, 2002
"I think there are signs of recovery ... but the recovery is likely to be weak".
- Glen Hubbard, Economic Aide, White House Council of Economic Advisors, Reuters, as reported on Yahoo, January 5, 2002 |
