I’m one of the ones hanging on ,,, my thinking is if I can make it til 2q ‘10 things will have gone downhill again (probably to a significantly lower level than we have yet seen) and something drastic will have been proposed or passed and monetarily “nothing” will really matter except survival. The middle class is stressed as you stated ,, there are no “lifelines” left , the 401k’s have run dry , taxes are going up (especially state taxes).. I disagree that the markets are overvalued ... I feel the high valuations are merely a reflection of the falling dollar,, I do agree that this 4q ‘09 could be bloody as people try to hold onto gains by selling ... we’re certain to have hundreds of “worst Christmas ever” news stories ...
I agree. We have the illusion of stability as the dollar collapses. Meanwhile people will start noticing anything imported will start getting real expensive (the trade balance hit a new negative record in July), meaning that we won't be able to buy oil or Chinese goods like we have in the past. No wonder all those freighters are sitting empty off Singapore when they should be ferrying over our Christmas purchases right about now.
I am sorry to hear that and I hope things improve for you.
As far as the media running worst Christmas ever?
Oh ye of little faith in the liberal news media!
We will hear all about Kwanza at the White Hut and whatever Muslims practice at Christmastime.
We will read stories have Muslims feel persecuted during Christmas.
We will hear all about green shoots and Michelle’s winter wardrobe.