The Nightmare Begins!!!!!
June 21, 2008
– Comments (9)
Retailers shutting down by the thousands. Jobs being lost by the millions. Assets crashing at speeds never seen before. Prices for food going up up up. Food riots all over the world. Fuel prices going up even faster. Who knows which jobs will be cut tomorrow.
Cities across America experiencing negative job growth. Unemployment going up because people now going back to work looking for jobs...can you believe that....now that people need the money and are looking for jobs, the unemployment rate is exploding. Just wait until the other half of the population starts looking for work...we could be at over 40% unemployment.
Never thought about that one did you? Unemployment low because people not looking for work.....wow!!!!
Commercial vacancies going up. Foreclosures at rates we have never seen before. Luxury condo buildings infesting with squatters. We built an infastructure for a easy credit economy....now the credit is drying up and we simply can't support the infastructure.
You have many new shopping centers that are less than 1/3 occupied...and many of the new tenants are leaving due to lack of traffic. Business is sucking wind and tax revenues is slowing to our local governments.
No jobs. No Assets. Lots of debt. Who knows where this is going.
The chirping chimp is lying through his teeth to you. He is cancelling all his picks because he knows the market is about to crash and wants to preseve his points. You think he closed out his first wife and told his second wife they were going to have a top 100 marriage? He knows the HBs are dead but simply won't admit to his mistake...so he keeps a few green to save face while not killing off too many points.
The truth sometimes sucks but its still better than the alternative....right now the economy is crashing at a pace that it has never before and someone has to talk about it. If we just sit there with our thumbs up our backsides....pretty soon drinking bloody marys won't even be that much fun....and that would really suck.
How do we prepare....not by listening to the chirping chimp and his toe sucking friends. Yes Alstry may be the bad boy of CAPs, but he tells it exactly as it is....and whenever I say something that may be interpreted wrongly, top dogger blogger demondoug is there to chew out my ass. But my ass is looking pretty good lately....I just wish I could say that about the outlook for our economy.
The next few months could be nuts...banks shutting down, retailers going dark, sales evaporating, jobs being cut by the hundreds of thousands. The system is shutting down and we just sit still likes frogs in boiling water. If we keep sitting there, pretty soon we will be appetizers for some foreigner buying up our country.
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