From Greater Fool regarding what to expect in the upcoming year.
Actually, you should remember these months. They’ll be unique. Interest rates at zero. People hoarding cash, buying gold, trusting nobody. Politicians doing extreme, unscripted and unresearched things. Giant corporations teetering. Neighbourhood stores shuttering. Real estate, investment, banking and government spokespeople preaching calm and confidence. Media boosterism.
In this environment it will be challenging to discern the truth. Hopefully 2009 will end better than the last one did, but at this point I doubt it. Stock markets may well have bounced off the bottom, but real estate will still be in decline. The big story of the year will be unemployment, the effects of which will clobber retail sales, the car biz and, of course, housing. As I have said here before, Wall Street is a leading indicator while Main Street is a lagging one.
New video on Friday with Peter Schiff basically predicting worse things to come. It’s really hard not to pay attention to this guy because he was one of the few who predicted everything that happened last year. In addition, this guy makes to much sense not to listen to him.
Finally a good read from Howard Lindzon that shares my view of Nassim Taleb as being very difficult to read. Oh, that reminds me that I have a Taleb audiobook that I received for Christmas that I have yet to return. The title of this article alone will make you click…