What a day on Wall street and the European exchanges. Tonight I’m watching the credit worries hit the Asia markets. The markets have been on a real roller coaster the past few weeks. In my opinion, the near/mid term upside potential for stock market is extremely poor. For those still on the coaster, you are in for a rough ride.
Are you folks reading Bloomberg? Businessweek? Marketwatch? Look what is going on! Nearly EVERY STORY is about the Credit Crunch, housing woes, etc. I talk to many folks who are completely unaware of what is going on. The average Joe seems to be oblivious to what is going on and the impact on his life. He will continue to be oblivous one day he notices his ARM resets, unable to refinance he goes into foreclosure. In 10 years, we will probably all look back and say “it was so obvious, how did we miss the elephant in the room?”
