Wednesday, April 29, 2009
Wait. Wait. Did it move? Just a little? Do you feel something? See that slight shift in the soil? Could it be a green shoot?
Nope. The GDP numbers are bad, really bad
. If I were a short term investor, I would be so out of this market. I personally feel, as Miss South Carolina might say, that the economy is going to get a lot worse before it gets better, if it gets better. The banks are not getting fixed, credit is not flowing freely, taxes are apparently on their way up, and both a carbon tax and health care "reform" are looming disasters. These are not things that promote investment. I suspect we are in the economic equivalent of the phony war period. Just wait. But I could be wrong and I hope I am. But kid not yourself. These GDP numbers are awful.