My dear friends,
I have told you a number of times during the past 24-36 months, ” do not believe the short term rallies in the market.”
The economy is in bad shape, and still needs another 18 months to bottom out.
This is assuming that Obama does not get reelected.
If he wins a second term, all bets are off.
When I say bottom out, the last part of this shakeout will be the worst part. As a people we Americans are very adaptable, and have a short memory.
They have gotten us used to a lower standard of living. Gas at 3.75 a gallon is better than 4.25, but still better part of .80-.90 higher than last year.
We are told to drive less, to carpool, and to stock up on sweaters for the winter. …And we do it, setling into a less comfortable standard of living.
We are told the rest of the World will love us again if me freeze in the winter, sweat in the Summer, eat less , and stock up on foods that are generic, and cheaper, meanwhile less fresh and healthy.
Well the rest of the world does not love us, and eating cheap fatty foods is well represented in the spreading rear ends of the American population.
I don’t want to be cold in the winter. I don’t like bulky sweaters. I’ve worked all my life and feel that i’ve earned the right to wear what I want, and heat and air condition my surroundings any way that I choose.
All we have to do is find or keep a job, and pray that inflation and a dropping Stock Market doesn’t wipe out what little we have leftafter loosng our homes.
Sell this bill of goods to someone else.
Beware the Market, especially if the Tax and spend party wins again and does its thing.
America we are in trouble