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2008 could be a tough year
Posted by Chris Knudsen on September 27th, 2007
The economy is a real mixed bag right now. World political issues will surely play a roll in what the economy will do in 2008. The stock market has experienced wild swings in the last quarter due to a weak dollar and housing market. Here are some other headlines:
- America is clearly heading towards a war with Iran. Foreign wars since 9/11 have now cost future generations almost $1 trillion.
- New home sales are at their lowest rate in seven years.
- Oil prices are through the roof.
- The dollar is worthless.
- Corporate quarterly profits show their smallest gains in five years.
- The unemployment rate remains low as do new jobless claims but companies are not hiring as fast as they have been. Many are holding off on hiring plans because they believe 2008 may bring a recession.
- The sub-prime crisis, which is causing so much turmoil in the markets, will not peak until the spring of 2008.
- Experts from both parties claim the US is spending its way into financial collapse.
- The Fed is grossly mismanaging the current money crisis.
I don’t want to sound negative but this has all the signs of some very bad things in the near future. The message I’m trying to get across here is be prepared for future turmoil. Most of what happens in the world is out of your control so it makes no sense to worry about it. Just be prepared and be positive.
Have you seen any similar headlines that interest you? Please submit them in the comments.
I save most relevant articles I come across in my delicious: http://del.icio.us/cboyack/economy - a simply skimming of the article titles shows the danger we face. Hold on tight!
Left by Connor on 09/27/2007According to my wife, the economy follows a cycle with skirt length. The shorter the skirts, the better the economy. Longer skirts are making a comeback this fall… Something to consider.
Left by Brad on 10/01/2007[…] Chris posted some good links on the economy/dollar here. […]
Left by Connor’s Conundrums » Our Dollar on 10/29/2007