June 13, 2008
– Comments (1)
There's plenty to be bearish about in the US these days...
The price of oil (and gas) is high... http://www.wtrg.com/prices.htm
The value of the dollar is low... http://mwhodges.home.att.net/exchange_rate.htm
The national debt is high... http://www.brillig.com/debt_clock/
Consumer confidence is low... http://thinkprogress.org/2008/05/16/consumer-confidence-at-lowest-level-since-1980/
Personal debt is high... http://www.khouse.org/enews_article/2008/1315
Personal savings rates are low... http://www.washingtonpost.com/wp-dyn/content/article/2007/02/01/AR2007020101276.html
The unemployment rate is rising... http://gregmankiw.blogspot.com/2008/05/us-unemployment-rate.html
House prices are falling... http://www.efinancialnews.com/tradingandtechnology/index/content/2350776881/restricted
Subprime crisis is still playing itself out, for example, as HELO's which haven't been factored in yet... http://www.nytimes.com/2008/03/27/business/27loan.html?pagewanted=print
We're in an unnecessary and costly war... http://money.cnn.com/2008/06/11/news/economy/iraq_war_hearing/index.htm?postversion=2008061212
Global warming may already be irreversible... http://www.commondreams.org/headlines04/0315-04.htm
And let's not forget this guy... http://politicalhumor.about.com/library/images/blbushworry2.htm
I'm hopeful things will turn around in the not-so-distant future, but for now, I'm staying bearish.
How about banks not able to lend money?
How about who is going to pay all this debt back now that revenues are evaporating?