The 7000s DOW might be the new 8000s.
Look at the bright side, only 6 more weeks of winter, pretty soon springtime.
Reuters: Stock futures sink on renewed earnings woes
South Korea's exports tumbled by a third, Australian house prices fell and news of more crippling losses hit Japanese electronics stocks on Monday, all adding to mounting evidence of a deepening global downturn.
3 comments:
On of the factors in a deflation over looked is that people suddenly realize that they have most of what they need and decide to NOT purchase anymore. I believe that's a factor here but there is another more insidious factor. This so called deflation isn't just a deflation it's hiding a worse condition called Stagflation.How could all these things be happening at once? Easy, food, medical Ins., Pharm., are all still inflating!! At a slightly slower rate to be sure but they've been rising at double digit rates for the last 3 or more yrs. I believe for the average person this is the real underlying reason things are spiraling down. When u add the effect this has on everything else it's pretty obvious why nothing else is growing. Now even energy is starting to climb again as well. People talk about deflation and it's true were seeing the rest of the economy deflate but that's because many folks can no longer afford anything but the basics and many others cannot even afford that are using credit cards to survive.
I know myself that I have cut back on a lot of things even though at the moment things are stable.
Maybe its a type of group think.
There were periods in my life when I really needed a credit card to get by. You pay for it through the nose.
The group think idea works for me. I was walking on the beach yesterday and I took pictures of a flock of sandpipers all in a herd on the beach. I watched and photoed them for about 10 mins. Then they took to the air in a group. Every move of the group was like watching synchronized swimmers. Maybe, at times of perceived peril we act like that flock as well? Here's the problem. over spending and over leveraging ( gambling) got us here and now we all are trying to get out by saving in a hurry whether we need to or not. over reaction? yes, and a bad one. The pie is now shrinking fast and this means many will not get a slice no matter what they do.
Post a Comment