Tuesday, March 3, 2009
How Far is Down?
The Dow, which Suze Ormond predicted could go as low as 8000 before bouncing back, is headed for new predicted lows of 6000. HSBC, Beneficial Household and Finance, is shutting down all eight hundred of its loan offices nationwide. 6100 jobs are gone.
The National Association of Realtors reports pending home sales are at a record low.
Gerald Celente, one of the gloomiest economic prophets out there, now announces in his Trends Report that "the greatest Depression has begun".
Unemployment is up, people are reportedly reluctant to accept job offers, preferring the bird in the hand. Mortgage lenders say the bubble of subprime mortgage foreclosures has moved on - now they're dealing with people who've lost their jobs.
It's pretty dim. So here's a question for you:
What, in your opinion, are the bright spots? What policies do you think show promise? Or more personally, how are you handling this onslaught of bad news...and when do you think things will begin to improve?