The latest declaration:
Not sure that I buy all that hype though. Anyone out there think we are in a full blown depression? I mean I understand there are people hurting, but from the stories I have heard regarding The Depression, things were a LOT bleaker than what we are witnessing now.
Something else to note is that Rosenburg is using his "fiduciary duty" to declare this, so it isn't exactly like he is just making waves for an article. This is stuff he is telling his investors.
This snippet is pretty interesting:
"The 1929-33 recession saw six quarterly bounces in GDP with an average gain of 8 percent, sending the stock market to a 50 percent rally in early 1930 as investors thought the worst had passed."
And he closes with this:
"How's that for a reality check," Rosenberg said. "It's not too late, by the way, to shift course if you have stayed long this market."
Fool it on down the line,