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The House of Cards that American Financial Habits Built December 23, 2007

Posted by Who? in Random.
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This is why I am cautiously, and increasingly, bearish.  I just  don’t think that this kind of stuff (along with everything else see “Market, Trades & Watches 12/18/07”) can be ignored forever– there HAS to be a correction.  Doesn’t there???  I don’t want to be a downer-bear, but more stories like this and I’ll soon be shitting in the woods.

Part of me thinks that this house of cards HAS to come down and will come down soon.  But another part of me says, who cares–don’t worry about trying to catch it before it happens; just party till the keg runs out and be ready to change direction as soon as the proverbial-shit hits ze fan.  This second strategy would be fine if I could avoid, potentially catastrophic, losses if I were in substantial positions when the market takes a hard look at the data and realizes “Uhh…Houston, (*psscchhh*)we have a problem.”

 I don’t want to see people lose money or the economy slip into a negative state but I think the longer data/behavior like this is ignored, the greater the damage is going to be.  I don’t really care which way the market is moving as long as I feel comfortable in taking an educated guess.  Anywho, just thought that was a cheery story for the holidays.

You mean you have to pay back credit card balances?

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