Thursday, October 9th, 2008...1:58 pm
Seven Reasons To Be Bearish
Reasons to be bearish are legion, but here are my top 7:
1. Unemployment increasing from 3 to 6.1% in a blink.
2. National Debt at an unprecedented 10T (ten TRILLION dollars [say it like Dr. Evil])
3. Business out-migration due to US corporate taxation (which is now the highest in the G-7)
4. US consumers (approx. 70% of global spending) spending habit reversal (from net deficit to net saving, 1st time in 10 yrs)
5. Inflation (A LOT)
6. Weak US Dollar
7. Equity investing moving out of the country to foreign exchanges. (this means that your equity-based retirement accounts [and the stock market in general] will not return to last year’s value for 20 years [based on the Great Depression recovery]).
Watch for solutions and answers and citations to be added to this article over the next 3 days.
Something to believe in (for Phil, who is the #1 fan of this band) :
