My husband deals with a lot of brokers on a daily basis because he's a professional athlete and the majority of them are selling short on everything which is a strong indicator that we're heading towards a recession. Oil prices have almost doubled since last year, the unemployment rate is skyrocketing, layoffs are everywhere. These sure are signs of troubled times ahead.
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To me, it looks like were already there. Once the analysts pull their heads out of their asses and stop being so overly optimistic we may actually get some factual data but for the most part, we're already in a recession.
It doesn't seem like the fed rate cut earlier this week had much impact because even though the market had a few good days afterwards, it's going back down again today.
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Jan 07, 2008, 07:20:43 AM
