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Message: The picture now is actually worse than it was in early 2007

The picture now is actually worse than it was in early 2007

posted on Jan 08, 2010 01:56PM

maybe I am just looking for negative stuff.....but there seems to be a lot of it latey

http://seekingalpha.com/article/181488-here-it-comes-consider-yourself-warned?source=article_sb_popular

Interesting article... a bit long

The picture now is actually worse than it was in early 2007. In early 2007 we had solid employment, we still had a reasonable housing market although it had slowed some, GDP was positive and we had just come off a GREAT Christmas season with extraordinary profits and sales. In addition we were running ~350 billion in deficits, not $1.6 trillion (estimated for FY10) nor did we have to roll and issue over $2 trillion of treasury debt (to someone!) in the next 12 months.

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