Council of Economic Advisors see's the loss of 4 MILLION jobs NEXT YEAR.

Random Ramblings
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Christina Romer President Elect Obama’s choice for head of the Presidents Council of Economic Advisors admitted over the weekend that the economy has severely worsened since November 22 and in all likelyhood the U.S. will lose approx. 4 MILLION jobs in 2009. That would put unemployment at around 10%.

Tough to re-fi that Alt Arm when you don’t have a JOB.

YEA…The stock market is a real BARGAIN now. :banghead :banghead

Remember…Job losses CREATE more job losses.

Let’s review a list of UNDER ESTIMATED ECONOMIC PROBLEMS.

  1. Sub-prime is a FRACTION of the mortgage market…It’s CONTAINED and WILL NOT spread.

  2. There is NO RECESSION…They were selling this one right up until last month.

  3. Housing is turning around…This one has been used so many times in the last 3 years I’ve lost count.

  4. AIG has MORE than ample liquidity to withstand this crisis (right before they got bailed out by US)

  5. Bear Stearns is on solid ground with a strong balance sheet. (3 days before they were CLOSED by the Feds)

  6. My personal FAVORITE…Stocks are CHEAP right now…This is a once in a lifetime opportunity!!! :bs

Wait Folks…This is just starting to get interesting. A whole lot of PAIN coming in 09. SEISMIC SHIFTS in consumer trends and buying habits are on the way.

And this is going on AROUND THE WORLD.

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There’s a paper mill about 5 miles from me ( Crane & Co.). They make paper that is used to make money. I assume their business will skyrocket when we start printing all this money we’re gonna need! :shocked Perhaps we should buy stock in Smith & Wesson too! Wal-Mart’s stock could jump too.