You've abandoned the 'dark side.' We are drumming you out of the Sith, and now see you at the agent provocateur you obviously are. Have you always been a Jedi? Are you now revealing your true colors?
I will give you what you want. Pessimism. You got it.
Now go all in, my friend. 'cause I think you're crazy.
You've been talking this way for months now, and the market continued to decline that whole time. (Don't forget to leave out that little fact.) You started talking about 'bottoms' and then it would drop some more, and then you'd talk about 'bottoms' again, and it would drop some more.
Now you've even gone so far as to post an article in the Bulletin.
Are you so sure it won't drop some more? Especially housing prices?
Look at the Bend Economy Bulletin Board, and you'll see prices are still 99.9% down arrows. Is it really your advice to ignore that and buy now? Really?
Sure they're cheaper.
But they'll get cheaper yet.
I do believe you become so attached to Buffet's advice, you can't see what's happening. (By the way, did you notice how many billions of dollar Buffet has lost? What if he had listened to his own advice and waited until now to buy?)
Seems to me there is an inherent contradiction in your stance: you look for pessimism, but allow yourself optimism.
You're the financial guy, but it looks far from over to me.
At my store, what I think I see is people cutting back, either out of fear of losing their job, or from actually losing their job.
What I haven't seen yet, but which is inevitable, is people cutting back BECAUSE THEY'RE FLAT ASSED BROKE!! We've been so far ahead on this, that we fail to see that the reality of this recession has yet to play out.
1 week ago