January 28, 2009
– Comments (6)
FED says it see's an economic recovery later this year.
Don't fall in love with a banker of low integrity.
He'll only leave you broken-hearted.
And your money just a fond memory.
Just like original earnings targets for this year were almost twice the latest revisions.
The Fed can't save this economy as evidenced by repeated rate cuts. Neither can Obama prevent the inexorable market lows which must result to flush away the excesses of the latest and greatest bubble of them all.
The Fed is wrong, that said, I'm not a permabear, things will get better--just not now.
This Just in.
Punxatawny Ben did not see his shadow....12 months of recovery ahead! yippiee
Oh wait we already heard that one in June 07
2009 is done and it is only January. Median homepricing still has another 15% to fall to be within the normal relationship with median income. Stabilization the first quarter of 2010 and pretty much flat from there for a long time to come.
I am still just as bearish, I don't care what the FED says or does. Short at resistance until it stops working.