Sunday, March 15, 2009
- Hang on, the bottom isn’t here yet…
- China voices concern over dollar holdings
- Slump in global trade most severe ever recorded
- When is a reduced trade deficit a bad thing?
- US government fiscal deficit explodes
- Tax receipts at an all time low
- Print, print, print (Switzerland and the UK)
Hang on, the bottom isn’t here yet…
As I see it, my work in preparing and sending these reports is to provide a different view from the mainstream press outlets, which I frequently regard as being overly optimistic or pessimistic, often at the same time. For now, there is a lot of talk that "the bottom is in," and I wish to illustrate why I am convinced that the risk for additional downside is much higher than the chance that we’ve bottomed and are now on the road to recovery. In this report, I will the case that the bottom is not in on the economy, recent stock market action notwithstanding.