Yes, we are headed for a second dip in this recession. The prevailing wisdom is 3rd/4th quarter 2010 no matter assurances to the contrary from Tim Geithner et.al.

I’m not an economist but you’d have to be blind not to see what’s happening.

Keep an eye on the no-value euro, which George Soros and others who know say is a very basic economic problem that will strongly and negatively affect global markets.

Also, the housing market has its problems. We hit a new low this month in new home sales, charted against variables and tracked since 1963.

Then there’s the commercial RE market and predictions that the stock market will sell off 40-50% of current highs. I am also hearing that 50% of homeowners will be under water on their mortgages by this summer.

And then there’s that old favorite, unemployment, which is at +/- 22% (shadowstats.com)no matter what bogus number they try to sell us in Washington. Yeah, that Washington, where they must finally realize we can’t tax nor spend our way out of this.

I have a friend who is whispering Bilderberg Group in my ear. I’m far from a conspiracy theorist, but I’m just sayin’ . . . Things that make you go hmmmm.

Here’s something John Maynard Keyes said more than 80 years ago:

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“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

– John Maynard Keynes
(1883-1946) British economist

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Chills my bones.

Hang on tight. This isn’t over by a long shot. Another friend whispers in my ear,”Preservation of capital.”

I will be at home waiting this out. Preserving what I have left.

I have been cleaned out once. Once is enough.

Posted by Patty Soffer under Business & Economy & Uncategorized |