Is there a new crisis coming?
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August 5th, 2011, 18:22
I'm expecting a significant downturn. I don't think it will be "falling off a cliff" like 2008/2009 where we went from moderately slow to end-of-the-world within the span of a couple weeks, but I figure we're in for another significant slowdown. Probably until the 2012 election.
With the tragically overinflated influence of the financial sector, these things tend to be self-fulfilling prophesies. Over the past month, all the news has been negative. Reality hasn't exactly been great, but nowhere near as bad as the analysts and talking heads would have us think. Stock market takes a crap because some pinhead in New York doesn't like the slope on his chart and the herd starts to follow. Corporations pull in the reins to cook their books and prop the stock price back up. Slowdown leads to some manpower reductions. Consumers suddenly get spooked over job losses and stop spending. Economy takes a serious crap. Pinhead in NY throws a parade because he was so good at predicting the future.
Been there, done that. Expect to see it again very soon.
Sorry. No pearls of wisdom in this oyster.
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