Monday, October 12, 2009

80% of economists...

...are probably wrong.

More than 80 percent of economists believe the U.S. recession is over and an expansion has begun, but they expect the recovery will be slow as worries over unemployment and high federal debt persist.

Foreclosures are up, unemployment is up, retail sales are down for the year. Does that sound like a recovery to you?

My personal belief is that this is far from over. Watch the sales numbers as we come into the fullness of the Christmas shopping season; they will tell the story. Avoid debt, pay off debt, build stores of cash and the necessities of life. If things do get better, then you're well-positioned to take advantage of the good times. If they don't, you're positioned to survive the bad times. Either way, you win.

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