It’s the Economy, Stupid
Bill Bonner (January 8th, 2009) Writes:
he economic news continues to bring bad tidings…consumer bankruptcies were up 33% in 2008…The financial crash is causing an economic crash, which will cause a worse financial crash…and around and around we go…Who will spend their savings in ‘09?…the CBO puts the budget deficit at $1.2 trillion for this year - and that’s not counting stimulus programs…and more!
“Psst…we’re breaking out of this joint…Saturday night…pass it on….”
Yes, dear reader…we’re breaking out… We’re not going to let these prison bars stop us. A whole generation of American investors is being fattened for slaughter…we’re not going to be among them.
Let’s look at yesterday’s headlines just to see what is going on.
The Dow rose 62 points yesterday. Oil held steady at $48. Gold went up $8. Yields are rising…but you still get paid nothing when you lend money to the U.S. government.
The economic news tells us that things are getting worse. Alcoa said
...Alcoa, Barack Obama, Big retailer;, Britain, bush administration, Congressional Budget Office, contrarian profits, Dow 30, Elizabeth, energy, equity finance;, Federal Reserve System, finance, food, Market Commentary, Marks & Spencer;, Oil Prices, Soviet Union, Thanksgiving, The Daily, Toyota, Turkey, United Kingdom, United States, Us Government, USD, wall street, worst car sales;


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