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Before the economy gets better it has a lot of downside yet to go. You simply can't turn things around on a dime - it's a slow moving turn. People gauging the speed of the turnaround by how quickly the stock market dropped are out of touch with reality. That's just a leading indicator - now begins the difficult and slow part...and the stock market will flounder based on dozens of factors that no one can easily predict, e.g. revenue/earnings, credit availability, unemployment, payroll, consumer confidence, housing sales, housing foreclosures, bankruptcies, M&A activity, presidential election, Fed rates, etc., etc. There are simply way too many unknowns right now and no clear indication of near-term events. We absolutely do have economic trouble ahead...
"What we're experiencing right now are the outer bands of a hurricane with an eye that likely won't hit us for another year or two. In the meantime, there will be plenty of sunny days, but they'll just distract us from what's coming. Stay focused on what your gut tells you is still churning just offshore." from the link
"As you wait, do what those in the path of a real hurricane do: prepare." again from the link.
The Fed has pushed that hurricane off shore a bit but it is still headed our way. We have more time. What are we going to do?
The economy will be in the doldrums for about 10 years, as was the Japanese economy in the 1990s and European and North American in the 1930. Some will make money by latching onto the forbidden knowledge that predicts the trends, but for the rest of us there will be a decline in living standards and lot of unemployment.
The economy will be in the doldrums for about 10 years, as was the Japanese economy in the 1990s and European and North American in the 1930. Some will make money by latching onto the forbidden knowledge that predicts the trends, but for the rest of us there will be a decline in living standards and lot of unemployment.
Japan didn't have one lost decade it had two. And counting.
At least Japan didn't have an unemployment crisis like the West does today.
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we all know the gubment got the bailouts covered
