6/14/2006

06-14-06 - 1

06-14-06

Yikes, stocks have gone down the crapper. Almost all the gains of the last year have disappeared in one month. And it may yet get much worse. I've been predicting for a while that various factors are approaching to create a perfect storm for a nasty recession : pop in the housing bubble destroying consumer buying power and the real estate engine, rising oil prices undermining industry, raises in the Fed's interest rates constricting the economy, huge federal budget and trade defecits, consumer debt piling up constricting consumer buying power (undermining by no longer having home value to refinance), continuing growth of India & China in skill jobs, etc. etc.

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old rants