Thursday, March 05, 2009
It's official - I'm a doomsayer
I've tried to be positive, hoping for an economic turnaround in 2010, but I officially don't believe that's gonna happen anymore. Lots of bad things are happening now, all of which will make other bad things happen, which will in turn make other bad things happen. You know, people losing their homes, not buying stuff, losing their jobs, which makes more people lose their homes and not buy stuff, which makes more stores and businesses go broke, which makes more people lose their jobs...you get my drift. I had predicted that probably Chrysler would go belly up this year. But after all the financial prep and studies the carmakers have done, it appears GM is the one that isn't viable. GM! I don't know where the bottom is, but we're not there yet. I had predicted, with not a lot of certainty, that we'd bottom out at 12% unemployment in December. California has already topped 10%. International trade has dropped 48%. Ford and GM sales are also down 48%. Holy crap! Now I'm just hoping things will begin to turn around before Obama runs for re-election.
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