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I Called It. But, I May be Off by Two Months.

January 18, 2008

Back in September I wrote an article on this very thing happening called, The Fall is Coming, if the Desired Affect is Seen

I don’t pretend to be an expert in the market, or a finical wiz, but I know when it does not feel right, and it does not feel right. The economy is headed down, that is for sure. The question is how bad it will get. I have heard some of the so-called experts say it will be a depression with a (little D). Yet others say it will be the worst recession we have ever seen. To me either one does not sound too good to me.

Is me, or did it seem that after The Fed Chairman Ben Shalom Bernanke gave his speech yesterday the market dropped? The same thing happened after Bush gave his speech. Although the only thing I got out of the speech Bush gave was, the housing market is slow, and it is Congress’s fault because they haven’t given him a plan to stop it.

With the dollar hitting a new low against the Yen, and euro, while Gold and Platinum were hitting a new high, one has to wonder when this administration will come clean and call it for what it is, a recession.

In a stroke of utter stupidity Bush wants to give individuals an 800 dollar tax cut, and extend the one already in place. The Democrats will go along if the can figure out how to pay for them.

APF

“Privately, the White House has discussed its support for a tax rebate of as much as 800 dollars for individual taxpayers, more than double the 300 dollar rebate featured in a 2001 effort to spur economic growth,” the Wall Street Journal said.

In a key concession to Democrats, the US administration appeared willing to accept stimulus legislation that does not include an extension of Bush’s tax cuts, the Journal said.

I really think that this administration has candy coated this one for too long, and we are past the point of no return. I think it is time to do what you think will allow you and you family to ride this one out. I know I am.

ABA

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