Wednesday, December 31, 2008

CNN Has One of the Dumbest Headlines of the Year

2009: Nowhere to go but up

Um, no, bucko. There is still plenty of room to go down. The Dow could really tank. Unemployment could double. There could be civil unrest.

There are a number of ways that things could get a hell of a lot worse. Hopefully that won't happen. But saying "there's nowhere to go but up" shows an astonishing lack of awareness of how bad things could become.
on or about

1 comment:

  1. BadTux1/01/2009 5:23 PM

    Real estate prices are going to go down by another 20% or so in 2009, as foreclosures continue at all-time highs. Right now the dollar is being propped up by folks overseas grabbing dollars in order to repay debts denominated in dollars, but that's going to end and shortly the dollar is going to resume its plunge, causing imports -- everything we use to live on, nowdays -- to become outrageously expensive. Unemployment is going to continue to increase because we're a nation of real-estate salesmen selling ourselves our own real estate over and over again, and that's spinning down like a friggin' turd down a toilet bowl. Plenty of down left to happen, and I don't expect any "up" to start happening until early 2010.

    - Badtux the Prognostician Penguin

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