Recession Naysayers Hold Out
Taking a contrarian view can be a grizzly experience.
It is for MKM Partners' economist Michael Darda, who believes all the recent hype in the markets about a recession is overblown. Darda, a frequent business television guest, appeared on CNBC Jan. 2 sporting a new beard. Darda told TheStreet.com that he will not shave the beard "until the recession talk ends or housing recovers, whichever comes first."
Darda is a member of a small and increasingly frustrated crew of economists and market strategists who refuse to jump onto the recession bandwagon, despite its increasing popularity.
Since 2008 began, market participants have become ever more pessimistic about prospects for the U.S. economy to pull out of the current housing and financial crisis without contracting. The housing market continues to decline as borrowers face more mortgage-rate resets and as bad loans mount on lenders' and banks' balance sheets.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV