Depression

Well folks, the "D" word is back!!  Seems like old times!  The financial news is replete with reports that many economists seem to be suggesting that soup lines are imminent.  Among the most notable is Paul Krugman who is no dummy and announced yesterday that we are actually now in a depression and that it will get worse.  It's enough to get an already depressed person even more depressed. The market is plunging amid the gloom and once again doesn't seem to matter much if a company is undervalued – it's just sold.  Gloom is now champion.  Consumers are pulling back and housing remains dead.  Forget trying to get a job.Deflation looms and that can be a real problem.  In sum, the global economy is in deep doo-doo right now, and the chances of a double-dip US recession is increasing in with each lousy economic report. Perhaps good corporate earnings which begin rolling in the next few weeks will change attitudes?  You can always hope.

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