Economists' outlook darkens: They see 30% chance of recession

We made up lost GDP by massive deficit spending. The banks are not well capitalized. Look at losses the FDIC has taken on past failures. Assets overvalued by 40% and it lots of cases even more. We didn't fix anything with the banks. We just got rid of mark to market and let them lie about the true worth of their assets.

For example: Bank of America is trading at a third of its book value. Liabilities of a bank are pretty well defined. Why is the market heavily discounting the value of BoA's assets? Are you a buyer of BAC?
 
not to mention, it was 15% a cpl months ago and the main reason for increasing the probability is because of consumer sentiment...driven by fear mongering headlines

lol self serving prophecy is self serving
 
Until people are back at work, comfortable, and not in fear of losing their job daily we can forget it. Those with excess will horde, those without will hang on to what little they have or use it on necessities. Until people feel comfortable spending up a storm again the US is shit out of luck
 
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