THE RECESSION IS COMING! THE RECESSION IS COMING!! THE RECESSION IS COMING!!! THE RECESSION IS COMING!!!!

ALL THE POLITICIANS, WALL STREET PUNDITS AND CNBC / BLOOMBERG NEWS TALKING HEADS TALK ABOUT THE STOCK MARKET JUST MAKING A NORMAL CORRECTION , THIS IS A BUYING OPPORTUNITY, THE FUNDAMENTALS ARE GOOD, OIL PRICES ARE DROPPING, UNEMPLOYMENT IS LOW BLAH BLAH ETC ETC. DO NOT BE MISLEAD BY THESE FOLKS WITH THE SIX TO SEVEN FIGURE SALARIES AND SUPER SIZED BANK ACCOUNTS. THIS MAKE THEM OUT OF TOUCH WITH THE MAN ON THE STREET IN THE MIDDLE CLASS....US!!!

I AM SORRY TO BE THE BEARER OF OMINOUS WARNINGS BUT AS THE BOY SCOUTS SAY ..."BE PREPARED". BELOW ARE MY FIVE MAIN REASONS.

1) THE ECONOMY IS NOT DOING WELL. EVERYONE THAT I TALK WITH BEMOANS THAT BIZ IS EITHER DOWN OR BARELY LEVEL TO PRIOR YEARS. EVERYONE IS LOOKING TO CUT COSTS, SERVICE / VALUE IS SECONDARY. COMPETITION IS BRUTAL IN ALL SECTORS EXCEPT THE TRULY HIGH END. JOB ANXIETY IS AT THE WORST I HAVE EVER SEEN. THE ECONOMY HAS BEEN ARTIFICIALLY PROPPED UP BY OUR US GOVERNMENT SPENDING APPROXIMATELY TWO BILLION DOLLARS PER WEEK ON THE "WAR" EFFORT IN AFGHANISTAN & IRAQ OVER THE LAST FOUR YEARS. THINK ABOUT THAT TWO BILLION DOLLARS PER WEEK!!

2) DON'T LET THE MELTDOWN IN "SUB PRIME" LENDING FOOL YOU. THINK ABOUT IT. THESE LOANS WERE MADE WITH BASICALLY NO MONEY DOWN. MOST PEOPLE THOUGHT THAT THEIR PROPERTY WOULD SKYROCKET UP IN VALUE. NOW THAT THESE HOMES ARE WORTH WAY LESS THAN THE PURCHASE PRICE, WHAT INCENTIVE IS THEIR FOR FOLKS TO PAY THE MORTGAGE? THEY COULD JUST STAY THERE TILL THEY GET EVICTED BY THE LOCAL SHERIFF RENT FREE FOR AT LEAST A YEAR. THERE IS SUCH A GLUT OF PROPERTIES NATIONWIDE AND THE BIG HOME BUILDERS ARE JUST FINISHING PROJECTS AND HAVE HUGE INVENTORIES. HOW ARE THE LENDERS GONNA UNLOAD THESE PROPERTIES? DON'T FORGET ALL THE SPECULATORS AND INVESTORS STUCK WITH CONDOS AND THE LIKE THAT THEY WERE UNABLE TO FLIP. THESE FORMER DAY TRADERS ARE NOW LANDLORDS. LETS SEE HOW THAT WORKS OUT! IN FACT YOU CAN BUY HOMES IN THE DETROIT AND OTHER DEPRESSED AREAS FOR THE PRICE OF A LUXURY CAR. HOW MANY PEOPLE TRADED UP TO A BIGGER HOUSE AND A BIGGER MORTGAGE, BANKING THAT THE HOME WILL BECOME THEIR RETIREMENT NEST EGG? THE HOUSING COLLAPSE WILL INDEED GET WORSE, A LOT WORSE BEFORE IT GETS BETTER. FIGURE ON AT LEAST A TWO TO THREE YEAR DECLINE BEFORE IT LEVELS OFF.

3) STUDENT LOANS ARE AT THE HIGHEST DEFAULT LEVELS EVER! THIS IS HAPPENING WHEN THE ECONOMY IS DOING WELL ACCORDING TO THE PUNDITS. IT IS ALSO INTERESTING TO NOTE THAT COLLEGE ATTENDANCE AS WELL AS TUITION IS AT AN ALL TIME HIGH IN OUR GREAT COUNTRY.

4) SPEAKING OF DEBT; AMERICA'S TOTAL DEBT LOAD HAS CLIMBED TO OVER FORTY FOUR TRILLION DOLLARS. I CAN'T EVEN FIGURE OUT HOW MANY ZEROS THAT IS!! I DO KNOW THAT IT IS OVER THREE HUNDRED PERCENT OF GDP. THE LAST TIME IT WAS THIS HIGH IN THE GOOD OLD USA WAS DURING THE GREAT DEPRESSION. THE CHINESE HOLD ALMOST ONE TRILLION DOLLARS OF DEBT IN THE FORM OF US TREASURIES WITH THE JAPANESE NOT TOO FAR BEHIND THAT NUMBER. DOESN'T THAT MAKE YOU FEEL GOOD?

5) OIL PRICES CONTINUE TO STAY AT HIGH LEVELS DUE PRIMARILY TO VARIOUS PERCEIVED POLITICAL INSTABILITY AROUND THE WORLD ESPECIALLY IN IRAN. THE NEWEST CRISIS IN IRAN IS IN MY HUMBLE OPINION AN ARTIFICIAL ONE CREATED BY THE IRANIANS TO PROP UP OIL PRICES. THE IRANIAN ECONOMY IS IN SUCH SHAMBLES THAT THE LUNATICS WHO RUN THE COUNTRY HAVE NO CHOICE LESS THEY LOSE THEIR IRON GRIP ON THE PERSIANS. THEY NEED THE MONEY TO KEEP THINGS GOING! EVER WONDER WHY THE RUSSIANS NEVER HAVE THESE PROBLEMS EVEN THOUGH THEIR POLITICS AND INTERFERENCE IS THERE AS WELL? IT IS BECAUSE THERE WOULD BE NO TEHRAN IF THEY PULLED THESE STUNTS WITH OUR FORMER COMMUNIST FRIENDS. THERE IS A SIMILAR SITUATION IN VENEZUELA, WHERE THE OIL DOLLARS (IN PART) FLOWING TO THE MASSES KEEPS CHAVEZ IN POWER. IF OIL PRICES GO BACK TO BELOW $30 PER BARREL BOTH THESE COUNTRIES ECONOMIES WOULD SUFFER GREATLY, THUS CREATING EVEN MORE TURMOIL .

THE PRESIDENTIAL ELECTION IN 2008! LOOK AT THE CANDIDATES THAT HAVE ALREADY DECLARED. IS ANYONE INSPIRED BY ANY OF THESE PRESIDENTIAL PRETENDERS? CLINTON, GIULIANI, ROMNEY, HUCKABEE, DODD, EDWARDS, & 2 THOMPSONS! THE BEST OF THE LOT ARE OBAMA, MCCAIN & HAGEL BUT I DOUBT THEY MAKE IT. THEY MAY BE A BIT TOO HONEST!

THE GOOD NEWS IS BASEBALL IS BACK AND THE YANKEES HAVE WON THEIR HOME OPENER. ALL IS WELL NOW!