2008 was a terrible year, the worst for the stock market since 1931. It was so bad that trillions were lost world wide. Not just in stocks, but housing went down and so did commodities like oil, which went from a high of $147/b down to $34/b.
This may seem like good news, but the problem is that we live in a world where a deflationary depression is worse than what we had before. Yes, gasoline was expensive, but most people had jobs, n0ow it is cheap but the ax is swinging.
Expect massive layoffs in 2009 as firm try to stay above water, many will fail. Other will emerge far smaller and leaner than before. Prices of houses will go down as more and more people are unable to pay and banks foreclose. This will in turn hurt the banks even more.
In fact, things will get real bad real fast.
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment