Lunchtime with the handheld. Time to blog about my pet peeve–writing about the economy.

I read a lot of financial news. It’s not as if I have any investments. But I’ve found a number of patterns emerge in the thirty-plus years of study. A main pattern I’ve found is the inability to call a financial spade a spade, especially when the evidence is right there in your face.

For example, the recession. It’s here. Been here for a while. But all news about the economy is couched in terms that state it may or may not be here. I guess they are afraid of scaring investors.

I think investors need to know the truth. The economy stnks. And it’s only going to get worse. I’m waiting for all the second mortgage foreclosures to kick in. That’s next, after the subprime stuff tails off. It doesn’t take a rocket scientist to see that when your loan balances vs. your home value gets to 100 percent, and the values are still dropping, that spells potential trouble.

Start coming up with your plan now. It’s not going to get better.

It’s Here Already

4 thoughts on “It’s Here Already

  • March 13, 2008 at 23:32
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    I agree. I personally think there’s a concerted effort among certain governmental agencies and certain financial agencies to “keep the lid on” and deflate things slooooowly. But the Fed dropped the interest rates big-time and the stock market stayed up for a few weeks…then the Fed dropped the rates again, and that time the market stayed up for a week…then the Feds said they were injecting $200 billion into propping up mortgage companies, and the stock market managed to stay up for two whole days. Now we’ve got S&P claiming that all the write-offs are pretty much over with…and the stock market managed to end up all of 35 points.

    In San Diego, there were 1954 home sales in February. At the same time, there were 3202 notices of default and 1398 trustee’s sales. This ain’t good.

  • March 13, 2008 at 23:32
    Permalink

    I agree. I personally think there’s a concerted effort among certain governmental agencies and certain financial agencies to “keep the lid on” and deflate things slooooowly. But the Fed dropped the interest rates big-time and the stock market stayed up for a few weeks…then the Fed dropped the rates again, and that time the market stayed up for a week…then the Feds said they were injecting $200 billion into propping up mortgage companies, and the stock market managed to stay up for two whole days. Now we’ve got S&P claiming that all the write-offs are pretty much over with…and the stock market managed to end up all of 35 points.

    In San Diego, there were 1954 home sales in February. At the same time, there were 3202 notices of default and 1398 trustee’s sales. This ain’t good.

  • March 14, 2008 at 19:59
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    Like you said Carol, they can refuse to call it a recession all they want. If it walks like a duck and quacks like a duck… chances are pretty darn good that it’s a duck.

  • March 14, 2008 at 19:59
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    Like you said Carol, they can refuse to call it a recession all they want. If it walks like a duck and quacks like a duck… chances are pretty darn good that it’s a duck.

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