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.