If you thought 2008 was bad, welcome to 2009 and beyond.
If there was any doubt in your mind that this terrible economic market was going to be here for a long time—the recent events should have erased them all ...
Just yesterday, the Dow Jones fell to new, 6-year lows, crashing through the lows that were made last year during the worst days of the current banking crisis.
The markets are threatening today to reach lows not seen since 1997! Think about this now…This current bear market has wiped out the profits of the last twelve (12) years and guess what—it’s just getting started!
Also this week, the Federal Reserve reversed their “promise” that the U.S. Economy would grow in 2009 and they are warning that the economy will continue to decline throughout 2009.
The Fed also acknowledged that the accelerating slide in housing, international trade, spending, production, and employment will “More Than Offset” any positive impact of the stimulus plan.
Investors have flatly REJECTED President Obama’s stimulus and housing plan by pulling money out of the market. The stock market has plunged over 12% in just the thirty (30) days he has been in office.
There are troubles brewing in the States & Cities being strapped for cash. And there is a serious threat of GM & Chrysler going bankrupt…not to mention the threat Citigroup and Bank Of America being Nationalized.
The Market is saying that another major down phase is here…The Federal Reserve as well as President Obama has stated that this economic decline will be here for some time.
I continue to say, no scream, develop your Entrepreneurial Skills, if you invest think of vehicles that provide a "Safe Haven" from a falling economy. I like Gold, which is over a thousand dollars an ounce today and Silver, which will outperform gold in the long run.
It is now more important than ever that you “Hope” for the best, but “Prepare” for the worst.
Bro. Bedford
'Conversations With Black Millionaires'
http://www.conversationswithblackmillionai...
Posted By: Bro Bedford
Friday, February 20th 2009 at 2:50PM
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