“Stocks are clearly having trouble extending their gains,” reports today’s Wall Street Journal. And that a number of key market health indicators are flashing red right now. When were these indicators flashing green? We don’t recall.
Most investors want to abandon everything and run for cover thanks to all the bad news, stock collapses and recession. Can it get any worse? Sandy Franks of the Taipan Publishing Group says, “no.” So what do you do with your money now?
he economic news continues to bring bad tidings…consumer bankruptcies were up 33% in 2008…The financial crash is causing an economic crash, which will cause a worse financial crash…and around and around we go…Who will spend their savings in ‘09?…the CBO puts the budget deficit at $1.2 trillion for this year – and that’s not counting stimulus programs…and more!
Retail sales crashed 2.8% in October, exceeding market expectations and underlining the severity of this downturn.
This from Marketwatch:
Sales were quite weak across a broad swath of the retail sector in October, an indication that the fourth quarter could be worse than the just completed third quarter, when inflation-adjusted consumer spending fell at the fastest pace in 28 years. Retail sales account for about half of consumer spending and about one-third of domestic demand. Retail sales are down 4.1% in the past year. Sales fell a downwardly revised 1.3% in September. Sales in August were also revised lower to a 0.7% decline. The dismal report confirms what the business sector has been saying: Consumer spending is falling rapidly.
…