Doom and Gloom
posted on
Feb 14, 2009 06:11AM
Engineering, procurement, construction & management of crude oil refineries.
Lets do a quick recap of what is going on in the world.... below is out of newspapers, BNN, Radio, TV...not fabricate from my gray matter
- every significant country around the world has, or is in, the process of putting together an economic stimulus package. For some countries, multiple packages will be required.
- real estate prices are falling. sales are falling and morgage forclosures.
- next round of defaults will be car loans and lease, and mortgages on commerical property.
- no good news coming out the auto industry. huge retraction
- no big projects for oil companies
- oil storage farms around the world are full of oil, and there are full oil tankers bobbing around the oceans and ports with no place to unload.
- financial institutions can not find enough Joe blows with good credit rating to loan money.
- WalMat cutting whitecollar jobs in th ehead office
- U.S of America will need to hire counterfeiters to keep up with printing of money.
- Value of US$$$ will hit rock bottom.
- Gold soars...buy gold stock
- Canadian Banks, for first time in history, may reduce dividend payout...ouch.
- economist are estimating more bad news to come.
- Stock market indexes hitting new lows
- street muggings and home invasions are expected to rise.
Okay, as I said, this is stuff from newspapers, TV, radio, ... it sounds like doom and gloom, because it is crappy out there. But we know it will blow itself out sometime in the next 9 to 12 once the stimulus packages start to kick in, and personal debt is paid down or written off.
Madison007 has a good point...right now, no decent investor will take the time to look at WWF unless MF has enormous wow factor up his sleeve. So far, I have not been wowed.
I am not seeking safe harbour...take a shot at me, if you want....