The Economic Cycle Research Institute is saying the economic indicators are now so pervasively bad that another economic calamity is unavoidable. "The vicious cycle is starting where lower sales, lower production, lower employment and lower income [leads] back to lower sales." The weakness in leading economic indicators, and they use a dozen for the U.S. alone, has become a "contagion" that is spreading like "wildfire."
COMMENTS:
Like I have been saying consistently, don’t buy anything you
don’t absolutely need and don’t buy anything on credit. Yes, things are already ugly in this country
and they are about to get a whole lot uglier.
The country does not have the leadership in the White House or in the
Congress to even begin to deal with it; either they are incapable or they simply don't give a damn.
We’re obviously screwed until we can make some changes in November 2012.
TODAY’S QUERIES & ANSWERS:
Q. What’s your opinion of the New York City protestors?
(Uncle Ben ~ Whiskeytown, CA)
A. They have every right to protest, but it is too bad they
are not protesting the Mosque or the economy or unemployment or
government. They are misguided and
ill-informed. They’ll probably be voting
for Obama and four more years of this
crap.
Q. I can’t believe that Kodak is facing bankruptcy. They have been part of my life ever since I
can remember. (Molly ~ Boston, MA)
A. When digital came along, they did not diversify quickly
enough. When you think of a digital
camera, you don’t think of Kodak. But,
given good management and a strong vision for the future, they could
recover. Look at what happened to bananas
Apple.
Q. I heard a funny story that YAHOO might be purchased by a
Chinese business and renamed MAHOO. Is
there anything to this wild story? (Wally
~ Phoenix, AZ)
A. The business is Alibaba and it is owned by Jack Ma. Yahoo is for sale; if they don’t find a buyer
soon, they could change their name to Boohoo.
TODAY’S QUOTE:
“In a world filled with hate, prejudice,
and protest, I find that I too am filled with hate, prejudice, and protest.” ~ Bob Gibson
TODAY’S VIDEO:
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