One would suspect that the credibility or even the inevitability of a second recession has now strengthened among the more pessimistic.
This will certainly put a dent in today's market activity.
Reuters: May new home sales plunge to record low
The Commerce Department said sales dropped a record 32.7 percent to a 300,000 unit annual rate, the lowest level since record keeping started in 1963, from a downwardly revised 446,000 units in April. The fall unwound two months of gains, which had been inspired by a government tax credit for home buyers.
2 comments:
Soros is predicting a second deeper Recession and Roubini says were going to avoid it. OY, who to believe. I'm seeing some small green shoots of jobs appearing again after a yr. and half of nothing at all. I even had an interview last week. I think things are starting to recover slightly but it's very weak and very fragile at this pt. and just about anything could derail it. What's you take friend?
I'm glad you are getting some bites. Eventually something will open up for you. Persistence is the the thing that always furthers.
My take is similar. There are lots of naysayers, and on the other side many who are confident. I try to keep in touch with as much as I can. That's part of the reason why I follow the markets so much. Personally what I have done is significantly reduce debt and try to live cheaper. I ride my bike a lot, really.
My guys say that the next recession will not be as bad as the present. Maybe that's the middle position, a recession but not as bad or deep.
Post a Comment