Bad Moon RisingPosted on June 13, 2012
It is starting to feel like 2008 all over again. Has anyone seen a "Black Swan" of late? Banks are queasy. They don’t want to lend. Bankers are nervous. Job data is not positive. The IPO market has been crushed and the window for new IPOs is shut tight. News from Europe is not good – the situation in Greece is a true mess. Retail sales data won’t make people smile. I bet gas prices rise soon. The spiral is going down – after a blip of good news. Is this a double dip? Sad to say, fasten your seat belts. This will be a very bumpy ride. This economy won’t improve until after the general election in November. One side wants the economy to be bad to make a point on the campaign trail, while the other side can’t make any big decisions to help because the acts can be used against him in a campaign or debate. So we are deadlocked and we stay stuck in idle for the next six months. Not good. It is a buyer's market now. Sellers beware – your expectations on value wont be met. Hunker down all – get through the year and come up for air in the New Year is my advice.