I Hate Being Right
This is getting old. For weeks now we've been hearing that the recovery was right around the corner... and for weeks now we've (me, vox, several others) have been telling you that the worst is yet to come.
And here we are... its almost May... The administration has fired every bullet in its gun. The Fed hasn't started shooting yet... because it knows if it does it risks something far worse than a mere depression.
So here we sit... waiting. And I'm getting really sick of it.
The other day I stopped by a little pool business here in town. Its run by two hardworking people... a man and his wife. They've made money their whole lives by the sweat of their backs. Now?
Now they're on food stamps... and 10 grand behind on their rent.
I know industrial mechanics... tool and dye... electricians... all out of work. Been out of work for months. No jobs in sight... and to many government obstacles to start their own businesses. I don't see how this ends well.
And all the while the jackasses on TV tell us the recovery is right around the corner... What do you think their gonna do when fall rolls around and things are still on the decline?
Well I'll tell ya one thing... if you've managed to recover some of your losses in your 401k you better get out soon. We're not gonna be flirtin' around with 8000 to much longer. We're at or near the peak right now. You may be able to wait a little while... but just remember... when it drops this time... its gonna drop big.
Keep your powder dry boys... if ya have any.